Press release
Biotech Flavors Market Size, Share, Growth, Analysis, Trend, and Forecast Research Report by 2029
The biotech flavor market worldwide is anticipated to grow at a compound annual growth rate of approximately 9% during the forecast period 2019-2029. The expected valuation for the biotech flavor market is likely to be close to US$ 3 Bn by the end of the forecast period.
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Uncertain Weather Condition & Political Instability Affecting Raw Material Supply
Erratic supply of raw materials due to unfavorable weather conditions, seasonal or crop violations, natural calamities, and political instability is a big problem for natural flavor manufacturers in growing regions. Consistent supply of raw material and quality of flavoring agents dramatically influence the final product quality and consumer acceptance. Enhanced flavor production through the traditional plant breeding process is currently not a mechanism preferred by flavoring agent suppliers, as it does not produce quality flavor.
The flavor production system based on plant tissue culture (PTC), microbial fermentation, or bioconversion, overcomes many of these limitation. These bio-tech processes provide the industry with consistent quality and unlimited production capacity at reduced cost. Furthermore, with the introduction of the biotech process, food and beverage manufacturing companies can now produce new compounds or convert low-value substances into high value compounds by bio-transformation. Since flavors are generally expensive as compared to other ingredients of processed foods, the flavor industry is adopting the bio-technology-based system.
Global Biotech Flavors Market: Competitive Landscape
Key players in the global biotech flavors market have been profiled in the biotech flavors market report. Some of the main players in the biotech flavors market include Givaudan, Sensient Technologies Corporation, Bell Flavors and Fragrances, Symrise AG, International Flavors & Fragrances, Inc., Takasago International Corporation, Frutarom Industries Ltd., Naturex group, Firmenich S.A., and Kerry Group Plc, and many more.
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Global Biotech Flavors Market: Segmentation
The global biotech flavors market has been segmented into form, flavor, application, and region.
Biotech Flavors Market by Form
Liquid
Powder
Paste
Others
Biotech Flavors Market by Flavor
Vanilla & Vanillin
Fruity Flavors
Essential Oils
Microbial Products
Others
Biotech Flavors Market by Application
Dairy Products
Beverages
Confectionery Products
Non-dairy Ice Cream
Bakery Products
Nutraceuticals
Others
Fruity, Vanilla & Vanillin Flavors Expected to Witness Most Demand in Future
The food and beverages industry has always found it difficult to manufacture products that are both good to taste as well as have health and environmental benefits. Hence, biotech flavors are emerging as a solution to improve the flavor in food items without causing harm to the health and environment.
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The global biotech flavor market has several types of flavors such as vanilla and vanillin, essential oil, microbial products, fruity, and others. Among them, fruity as well as vanilla and vanillin have been identified as the flavors in most demand. It is estimated that the demand for fruity flavor will increase because of the large demand for processed food and beverages worldwide.
The demand for biotech flavors primarily witnesses demand from bakery products, nutraceuticals, dairy products, non-dairy ice creams, confectionaries, and beverages. Among them, it has been observed that biotech flavors have been used in beverages and the rise in demand for flavored beverages has propelled the biotech flavor market.
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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