Food Flavors Market Drivers, Restraints, Opportunities & Challenges

The global food flavors market size is estimated to be valued at USD 16.4 billion in 2020 and is projected to reach USD 20.7 billion by 2025, recording a CAGR of 4.8% during the forecast period. The market is strongly driven by shifting consumer preferences, introduction of various novel flavors, the growing millennial population, and increase in supplementary income among consumers. With the upcoming new technologies and innovative food & beverage options, the demand for food flavors is increasing currently.

Download PDF Brochure; https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=93115891

Drivers: Shift in consumer base

Consumer base shift has been observed in the past few years on various scales such as physical activities, health awareness, connoisseurs, and food choices about including meat or vegan diet. Due to this reason, the demand for a wide portfolio of flavors is rising for various categories of food & beverages. To match this consumer demand, food manufacturers are constantly striving in R&D to achieve an innovative product portfolio.

Restraints: Side-effects of added flavors, both natural and synthetic

There are major health effects of a few chemicals that make up natural and artificial flavors. For instance, the benzaldehyde compound contains hydrogen cyanide, which can cause central nervous system depression and convulsions. Several synthetic flavors made with amyl acetate (pear and banana) may cause indigestion, chest pain, headaches, fatigue, and irritate mucus membranes. Similarly, benzyl acetate may also cause gastrointestinal, bronchial, skin, and eye irritation. There are few more compounds, such as butyric acid and carvacrol, which are used in synthetic flavoring, which can cause health problems. Also, there are certain toxins, such as monosodium glutamate (MSG), diacetyl, and castoreum, present in natural flavors extracted through fruits or plants. Such toxins can be harmful to the human body and cause health hazards if not treated properly. These effects restrain the market growth.

Opportunities: Innovative raw material sources

The consumption of natural foods is becoming a trend, and the food industry strives to introduce new sources of flavors. Castoreum extract, a natural flavoring that is obtained from the anal glands of a beaver, is used as a natural flavor in beverages, confectionery, dairy, and desserts. Knowledge regarding the biogenesis of plant volatiles, their enzymes, and genes will pave the way for the production of innovative food flavors.

Microorganisms have a higher capacity for the production of natural pigments and extracts. Marine sources are used on a commercial level for flavor extraction; seaweed is one of the most innovative sources that are used by well-established flavor houses. Varieties of superfruits from rainforests are in demand for the use of natural flavors. Such innovations present opportunities for market growth.

Challenges: Compliance with quality & regulatory standards

The food flavors industry faces a legal obligation to abide by the norms and standards of various regulatory standards. These regulatory standards vary by country; however, they have a common goal of ensuring the safety of consumers. The regulations set by different countries also emphasize on the usage of flavors and proper labeling of food products. These stringent regulations can delay or prevent the launch of new products, increase the prices of any new product introduced in the market, and may lead to product recalls. Therefore, the implementation of new regulations and modifications in the existing regulations negatively affect the growth of the market.

Make an Inquiry: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=93115891

Key players in this market include DuPont (US), Archer Daniels Midland (ADM) (US), Givaudan (Switzerland), Kerry Group (Ireland), International Flavors & Fragrances (US), Firmenich (Switzerland), Symrise (Germany), MANE (France), Taiyo International (Japan), and T. Hasegawa (Japan).

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

This release was published on openPR.