Market Research Report
Global Food Flavors Market Forecast 2019-2028
|Published by||Inkwood Research||Product code||959953|
|Published||Content info||178 Pages
Delivery time: 2-3 business days
|Global Food Flavors Market Forecast 2019-2028|
|Published: September 10, 2020||Content info: 178 Pages||
The global food flavors market is estimated to project a CAGR of 4.32%, over the forecast years of 2019 to 2028. Key factors attributed to the market growth include, the growing need for health products, the high demand for natural flavors, and the increasing demand for RTE meals and fast foods.
Food flavors are characterized by the impression of taste and smell, determined by chemical senses. Accordingly, industries utilize flavoring agents to produce distinct flavors in food products.
Over the years, there has been an increased demand for health products, commonly termed green label products, such as fruit-flavored drinks, energy drinks, and nuts. The rise in health awareness and consciousness among the masses is a prominent driver fuelling their growth. Similarly, new customers cross emerging countries are more willing to pay for health products, owing to the surging significance of physical fitness. On the other hand, the increasing prevalence of diabetes, obesity, and blood pressure, further increases the demand for health-associated food products.
The global food flavors market growth is evaluated across the Asia Pacific, Europe, North America, and the rest of the world. The Asia Pacific is the leading and dominating region for food flavors, mainly due to the rising income levels and the massive food-products consumer base. The region's market is anticipated to follow the premiumization trend, owing to the growing demand for high-quality products, and customers' rising purchasing power.
The competitive rivalry in the market is high, because of the surge in regional firms and the presence of global giants. Distinguished players operating in the market include, Frutarom Industries Ltd, The Foodie Flavours, Givaudan International SA, Synergy Flavors, Firmenich SA, etc.