Global Flavors Market: By Source (Natural, Synthetic), By Type (Fruits, Nuts, Chocolate, and Others), By Application (Bakery & Confectionery, Dairy & Frozen Products, Beverages, Savory & Snacks, and Others), and Geography – Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2017 and Forecast 2018-2024
Global Flavors Market Was Valued At US$ XX Mn In 2017 And Expected To Grow At 5.8% Compound Annual Growth Rate (CAGR) Over 2018 To 2024
Market Outline: Flavors Market
Flavor is determined majorly by the taste, smell, and chemical sense. It is the sensory impression of food. Flavors are the intense preparations added in the food products, to enhance the flavor after processing. Flavors are recommended in small amounts and cannot consumed alone. Flavors are generally derived from natural and artificial sources. The natural sources for flavors include herbs, spices and many others. These flavors are available in powder, liquid, powder, and paste forms.
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Market Dynamics: Flavors Market
Increase in the demand for convenience food is the key factor expected to drive the growth of the flavor market. The growth in the food and beverage industry and technological advancements are adding scope for the further development of new products which is likely enhance the growth of the flavor market. The mounting purchasing power and increasing research and development activities for the development or introduction of new flavors are providing an opportunity for the manufacturers to expand their portfolio. However, the stringent government regulations are hindering the growth of the market. The side effects of artificial flavors are likely to hamper the growth of the flavor market over the forecast period.
Market Scope: Flavors Market
Flavors market has been segmented on the basis of source, type, and application.
Based on the source, the market is segmented into the following:
- Natural
- Synthetic
Based on the type, the market is segmented into the following:
- Fruits
- Nuts
- Chocolate
- Others
Based on application, the market is segmented into the following:
- Bakery & Confectionery
- Dairy & Frozen Products
- Beverages
- Savory & Snacks
- Others
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Regional Analysis: Flavors Market
Geographically, global flavors market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Europe flavor market to keep the top spot in the global market. The burgeoning food and beverage industry are enriching the growth of the market in this region. North America follows Europe in the flavor market. The Asia Pacific is projected to grow exponentially over the forecast period. The developing technologies in the emerging economies such as China and India are expected to drive the growth of the market. The expansion of manufacturers into the emerging economies is expected to boost the growth of the market in this region.
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Competition Assessment: Flavors Market
Some of the players in the global flavor market include:
- Robertet SA (France)
- Archer Daniels Midland Company (U.S)
- Döhler GmbH (Germany)
- Huabao International Holdings Limited (China)
- Hasegawa Co. (Japan)
- Koninklijke DSM NV (Netherlands)
- GOLD COAST INGREDIENTS, INC. (U.S)
- Givaudan S.A (Switzerland)
Notable Market Developments: Flavors Market
- In December 2017, Parker Products has launched 2018 feature flavors for ice cream.
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