Market Research Report
Asia Pacific Food Flavors Market Forecast 2019-2028
|Published by||Inkwood Research||Product code||959950|
|Published||Content info||119 Pages
Delivery time: 2-3 business days
|Asia Pacific Food Flavors Market Forecast 2019-2028|
|Published: September 10, 2020||Content info: 119 Pages||
The Asia Pacific food flavors market is predicted to record a CAGR of 5.01%, during the forecast period of 2019 to 2028. The massive consumer base, the surging income levels, and the prevalence of diverse food cultures are predicted to propel the region's market growth over the forecast years.
The Asia Pacific food flavors market growth is analyzed across China, Australia & New Zealand, Thailand, Japan, Indonesia, India, South Korea, Vietnam, Malaysia, and the rest of the Asia Pacific. Food processing in India is among the largest industries, in terms of production, consumption, and import. As a result, the country's market for food flavors is observing a significant demand, due to the increased need for food flavors across processed food products. Moreover, Indian food culture is characterized by increased use of herbs and spices, which creates a classic demand for food flavors. For instance, the Indian cuisine ensues a vast application of enhancers and flavors such as chilies, cinnamon, and asafetida, in addition to recent food flavors like ginger, garlic, and coriander powder.
On the other hand, with the rising working population, the demand for ready-made and processed food products, linked with enhanced taste and exciting flavors are steadily increasing. Enterprises that produce snack items like instant noodles, biscuits, and chips, among others, are demanding enhancers and food flavors to ensure that their products are differentiated from their competitors. Furthermore, chocolates are also being used as a flavor is numerous products, such as cakes, ice-creams, and Indian sweets, especially by snack and sweet shops, restaurants, and confectioneries. Thus, such factors are anticipated to influence the region's food flavors market growth.
Key players operating in the region's market include, Takasago International Corporation, SH Kelkar and Company, Create FLavoes, Huabao International Holdings Limited, Sensient Technologies Corporation, etc.