Food Flavors Market In-Depth Analysis and Marketing Strategies by 2027 | Frutarom Industries Ltd., Huabao International Holdings Limited, Kerry Group, Plc., Robertet SA

Food Flavors Market garnered $14.6 billion in 2019, and is estimated to reach $17.4 billion by 2027, registering a CAGR of 4.6% from 2020 to 2027. The report offers an extensive analysis of the key market dynamics, driving forces & opportunities, key segments, pricing, product portfolio, and competitive scenario.

Covid-19 scenario:
• The global lockdown has offered numerous challenges to the global food flavoring industry. Where on the one hand, various companies are witnessing a shortage of lab workers, on the other hand, it has become difficult to tackle the disruptions in the supply chain.
• Moreover, various regions are entering in recovery phase and initiating to continue their procedures. to manage the availability of the essential requirements.

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Rise in demand for RTE meal and fast foods, increase in use of health products, and surge in income levels drive the growth of the global food flavors market. Moreover, rapid technological advancements supplemented the market growth. However, increase in side effects of artificial flavors, stringent government regulations, and surge in health awareness among consumers hamper the market growth. On the contrary, untapped potential in unpenetrated and under-penetrated developing countries is expected to create lucrative opportunities for the market players in the coming years.

Based on end-user, the beverages segment contributed to the largest share in 2019, accounting for nearly one-third of the total market share, and is estimated to maintain its highest share during the forecast period. However, the savory and snacks segment is projected to register the highest CAGR of 6.3% during the forecast period.

Based on type, the artificial segment accounted for the highest share in 2019, accounting for more than two-thirds of the total revenue, and is estimated to maintain its lead position throughout the forecast period. However, the natural segment is expected to portray the highest CAGR of 5.6% from 2020 to 2027.

Based on region, Asia Pacific held the largest market share, accounting for nearly one-third of the total share in 2019, and will maintain its dominance during the forecast period. However, Asia-Pacific is estimated to grow at the highest CAGR of 6.0% during the forecast period.

Leading players of the global food flavors market analyzed in the study include Frutarom Industries Ltd., Huabao International Holdings Limited, Kerry Group, Plc., Robertet SA, S H Kelkar and Company Limited., Firmenich SA, Sensient Technologies Corporation, Symrise AG, Takasago International Corporation, and Givauda International SA.

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