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Food Flavors Market by Type, Application, Origin, Form And Region - Global Forecast to 2023

Food Flavors Market: Global Forecast until 2023

  • August 2018
  • 204 pages
  • ID: 3250913
In this report:
According to International Monetary Fund, World Economic Outlook Database, April 2017, the FMCG market in India is estimated to grow at a CAGR of ~##.##% from 2012 to 2022, to reach USD ## Billion, which is considered to be a high growth.
According to the United States Department of Labor, Bureau of Labor Statistics on Consumer Expenditures in 2016, US consumers spend around ##.##% of their annual income on food of which ##% is spent on eating out; spending on processed food accounted for ##.##%.

Summary

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The food flavors market is estimated to rise at a compound annual growth rate of 4.80 percent.

The food flavors market is projected at ~$13.6B in 2018 and is projected to extend ~$17.1B by 2023, at a compound annual growth rate (CAGR) of 4.80 percent from 2018 to 2023. The industry is primarily influenced by trends including increase in consumer awareness regarding food safety and diseases caused by consuming harmful synthetic flavors. Other increase factors contain the growing demand for processed foods and beverages.

Elements such as the high cost and availability of raw materials for natural flavors are affecting the increase of the market. These issues have been restraining the increase of the food flavors market to some extent.

The fruits & nuts segment is expected to rise at the maximal rate during the estimate period.

On the basis of class, the fruits & nuts segment is expected to grow at the highest compound annual growth rate (CAGR).The food processing sector is increasing in developed as well as emerging economies.

The sector is helping significantly to the GDP of emerging countries, owing to which the governments of these countries are also launching favorable policies for industry growth. This factor is, in turn, driving the sector for food flavors across the globe.

The beverage segment is intended to be the quickest-increasing during the forecast period.

Established on application, the beverages segment is forecasted to be the quickest-rising during the forecast period.Beverages including energy drinks are in demand due to their health benefits.

Consumption of beverages is rising in developing economies due to the growth in disposable income in these countries.

The liquid segment is envisaged to be the faster-growing during the forecast period.

Established on form, the liquid segment is planned to be the faster-growing during the forecast period.Liquid flavors are in demand because these flavors easily mix together and give better results.

The beverages segment is the leading application for liquid flavors.

Natural segment is forecasted to grow faster during the forecast period.

Established on origin, the natural segment is intended to be the faster-growing during the forecast period. Natural flavors are in demand due to their health benefits while also imparting flavor.

South America area is expected to register the maximum growth rate during the outlook period.

South America region is forecasted to be the quickest developing market between 2018 and 2023.Improvements in the food export and import sector have opened new opportunities for the food & beverage market, leading to the increase of the food flavors market in this area.

Emerging economies including Brazil and Argentina (AR) play an important role in supplying food flavors.The increase in urbanization and change in food habits of consumers have led to an increased demand for packaged foods in South America area.

The leading market actors for food flavors in the Asia Pacific area are Givaudan, International Flavors and Fragrances, Frutarom, Sensient, Grupo Saporiti, Citromaxflavors, and Dohler.

Break-up of Primaries:

• By Company category: Tier 1 - 28.0 percent, Tier 2 - 33.0 percent, and Tier 3 - 39.0 percent

• By Description: C-suite executives - 49.0 percent, Director-level - 21.0 percent, and Others* - 30.0 percent

• By Area: Asia Pacific (APAC) - 35.0 percent, North America continent - 25.0 percent, Europe (EU) - 25.0 percent, South America region - 5.0 percent, and rest of the world - 10.0 percent

*Others includes sales managers, marketing managers, and product managers

Segment Research

The document breaks down the food flavors market established on category, application, form, origin, and area. In terms of insights, this market research has emphasized different levels of analyses-competitive landscape, end-use review, and organization profiles-which together comprise and discuss the basic overviews on the emerging & high-growth segments of the food flavors market, high-growth areas, territories, government actions, drivers, market restraints, alternatives, and opportunities.

Why acquiring this study can help you:

• To get a comprehensive overview of the food flavors market

• To benefit wide-ranging information about the top actors in this market, their products review, and top strategies approved by them

• To benefit business insights about the main countries/localities in which the food flavors market is prospering

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