Encapsulated Flavours Market: Spice Flavours Segment Projected to Grow at a Relatively High CAGR

Future Market Insights (FMI), in its recent report, estimates the global encapsulated flavours market to register 1.7% CAGR, in terms of volume, during the forecast period 2017 to 2027. Global sales of encapsulated flavours is expected to reach 125,423.4 MT in 2017; and are further estimated to surpass 200,000 MT by 2027-end.

In terms of volume, Asia Pacific excluding Japan (APEJ) is expected to remain the most lucrative market for encapsulated flavours, with sales estimated to expand at a high single-digit CAGR through 2027. North America will continue to be the second largest market for encapsulated flavours, in terms of volume.

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Chocolate flavour will continue to be preferred among encapsulated flavours in the global market, followed by general fruit flavours, spice flavours, and citric flavours. In terms of volume, sales of spice flavours are estimated to register the highest CAGR through 2027, followed by exotic fruit flavours

In terms of volume, encapsulated flavours will continue to witness largest adoption for application in beverages & instant drinks, with sales expected to register the fastest expansion through 2027.

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Demand for encapsulated flavours in convenience food will continue to rise in North America. Consumer preferences in this region is shifting towards readymade meals, savoury soups, and snacks, resulting into demand for exotic, ethnic, and spicy flavourings.

With increasing spending on research & development activities, global manufacturers are now facing competition from regional players in APEJ.

Key market players identified in FMI’s report include Symrise AG, Cargill Incorporated, Nexira SAS, AVEKA Group, Naturex S.A., Archer Daniels Midland Company, International Flavours & Fragrances Inc., Sensient Technologies Corporation, Balchem Corporation, FONA International, Inc., Ingredion Incorporated, FrieslandCampina Kievit GmbH, BUCHI Labortechnik AG, Etosha Pan (India) Pvt. Ltd., Groupe Legris Industries (Central), Tate & Lyle PLC, LycoRed Limited, and Synthite Industries Ltd.

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This release was published on openPR.