Flavoring Agents Market | Industry Analysis, Growth rate, CAGR, and Future Forecast 2020-2026
Flavoring agents are among the most significant additives used in foods and medicines in order to enhance the taste. They can be either naturally or synthetically obtained. Natural flavoring agents are substances such as essential oils, oleoresin, distillate, or any other essences acquired directly from natural products such as fruits, spices, animals, seafood, dairy, and others through a chemical process. Flavoring agents find applications in food and beverage processing, pet food, and the pharmaceutical industry.
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The Major Players Covered in this Report: Firmenich SA, Archer Daniels Midland Company ‘ADM’, Kerry Group plc, Givaudan, Symrise AG, Sensient Flavours, Frutarom Industries, International Flavours and Fragrances Inc., Huabao International, Kerry Group, Takasago International Corporation, Keva Flavours Private Limited, and Robertet SA., & more....
By Nature, Natural, Synthetic
By Application, Food processing, Bakery and confectionery, Savory and snacks, Dairy and frozen products, Beverage processing, Pet food, Pharmaceutical
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Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Flavoring Agents in the APAC Region:
Asia-Pacific region is anticipated to hold the largest market share in the global Flavoring Agents market during the forecast period 2020-2026. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia.
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The rapid increase in the number of pet adoptions in America has led to a rise in requirements for animal pet food, thereby resulting in inflated demand for flavoring agents in that region. The American Pet Products Association (APPA) reported that in the year 2015, 77.8 million dogs and 85.6 million cats were adopted in the U.S.
Need for Constant Taste Improvements in the Food and Beverage Industry, Flavoring agents find use in various applications. The food industry has transformed and evolved over the past years in order to cater to the needs and requirements of customers. Taste enhancement and improvement characteristics of flavoring agents result in their excessive use in the food and beverage industry. Flavoring agents have been a prominent part of food additives that are used to enhance the quality and satisfy the taste buds of consumers. Nevertheless, there have been certain restrictions in the quantity of flavoring agents being used in the food. Some government authorities have barred the industry from using too many flavors and have vigilantly been scrutinizing the process. The FSSAI and the European Flavour and Fragrance Association are a few organizations working in coordination with food safety policies.
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