Will Encapsulated Flavors and Fragrances Market witness rapid growth by 2024? Eminent Players are Symrise AG, Firmenich, Cargill, Ingredion, Tate & Lyle

Global Market Insights, Inc. has launched a report on Encapsulated Flavors and Fragrances Market that elucidates an in-depth synopsis of this business vertical over the forecast period. The report is inclusive of the prominent industry drivers and provides an accurate analysis of the key growth trends and market outlook in the years to come in addition to the competitive hierarchy of this sphere.

Increased utilization in numerous consumer industries has boosted the encapsulated flavors and fragrances market globally, with products being employed by businesses ranging from food and personal care to textile. An upward push to the disposable income across the world has amplified the spending on consumer goods, while raising the penchant for fast food and ready to eat meals where artificially added flavors make the food item more acceptable.

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Key Players:
• Symrise AG
• Firmenich Incorporated
• FrieslandCampina Kievit
• Cargill Incorporated
• Ingredion Incorporated
• Tate & Lyle PLC
• Aveka Inc
• Nexira SAS
• Mane
• Synthite Industries Ltd
• Sonarome
• Sensient Technologies Corporation
• Lycored Group

The unprecedented rate of economic development has aided the rapid progression of manufacturing technologies and marketing or distribution networks, allowing for the dispersion of the encapsulated flavors and fragrances industry in a multitude of trade verticals. Owing to beneficial features such as ease of use, undesirable odor & flavor masking and effective delivery of nutrients, the encapsulated flavors and fragrances market amassed a remuneration of more than USD 6 billion in 2017.

The total population of the world has crossed 7.6 billion people as of this July, representing a massive demand for food that could prove quite lucrative for the encapsulated flavors and fragrances market. As the lifestyle and work culture keeps evolving, more people are experiencing frantic daily routines and have less time for cooking meals at home. According to statistics, worldwide around USD 570 billion is generated from the fast food segment, which is considerably higher than the entire GDP of many countries. In the U.S. alone the segment contributed USD 200 billion in 2015, with experts predicting a 2.5 percent annual growth over the next few years.

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With the upsurge in income, it is being observed that the focus of consumers has gradually shifted towards taste and followed by price and quality. This has created a favorable customer base for the encapsulated flavors and fragrances industry that is building up profits from over 200,000 fast food restaurants all over the U.S. The burst in technological advancement throughout diverse segments in the country has further helped the encapsulated flavors and fragrances industry’s penetration into different food categories.

A U.S. based encapsulated flavors and fragrances manufacturing company, Sensient Technology has product offerings such as sweet flavors, natural flavor extracts, beverage flavors and also fragrances for home or personal care products. Sensient’s fragrance encapsulation technology allows for controlled release of a perfume and provides a long-lasting fragrance experience, with uses in fabric care liquids, dish washers and oral care solutions besides being effective in elevating the fragrant value of perfumes. The company assures that their encapsulated flavors deliver superior flavor protection, precise flavor release and the ability to attain visual enrichment. These are sold to different sorts of food segments including ice-cream, yogurt, baked goods, ready-to-eat meals, dairy culture, carbonated and flavored drinks, among others for giving excellent taste experience to consumers.

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Elaborating the industry benefits further, encapsulated flavors are also being engineered by North American companies for better ingredient preservation of dietary supplements along with enhancing the release of nutrients and improving the product shelf life. This trend can be attributed to the growing health concerns in the region which has led to more number of people consuming fitness products and following healthy routine. Factoring in the prevalence of quick service restaurants, the availability of innovative encapsulation technology and the move towards healthy eating habits, North America accounted for more than 30% share of the global encapsulated flavors and fragrances market in 2017.

With key players in the encapsulated flavors and fragrances market probing at opportunities to extend their encapsulation portfolio, several application areas including cosmetics, bio nutrients and energy drinks is expected to stimulate the overall industry. The extensive popularity of artificially flavored soft drinks, easily prepared cakes and confectioneries and aromatically enriched perfumes will bolster the encapsulated flavors and fragrances market, estimated to witness 4.5% CAGR from 2018 to 2024.

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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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