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Food Flavoring Market - Global Industry Size, Market Share, Trends, Analysis, and Forecast 2016-2024

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Thanks to the growing preference of global consumers for appetizing food items, the demand for food flavoring products has been witnessing a strong rise over the last few years. Gourmet and premium foods have led to an immense increase in the demand for high-quality food flavors. The rising shift towards fast foods is likely to help players in leveraging consumers’ interest and capitalizing on market trends over the next few years. 

At a broader level, the worldwide food flavoring market has been analyzed on the basis of the type of product, application, and the geographical presence. Based on product type, the market has been classified into natural flavorants, artificial flavorants, and synthesized flavorants. By application, beverages, savory and snacks, dairy, confectionary, bakery, and frozen products have been identified as the key segments of this market. Geographically, the market has been categorized into North America, Europe, Asia Pacific, and the Rest of the World.

This research study has been specially compiled with an objective to provide a better understanding of the current as well as the future status of the global food flavoring market to participants in order to assist them in making important strategies for further expansion.

Overview of the Global Food Flavoring Market

The rising urbanization and the augment in the purchasing power of people across the world have prompted a dramatic shift in their eating habits. The escalating levels of incomes, globally, and the westernization of diets in emerging countries have fueled the demand for rich and tastier food. The swift spread of fast food retail chains and restaurants all around the world is strengthening these patterns, creating a huge requirement for flavor enhancement in food and beverages. As a result, the consumption of food flavoring products has increased substantially in the recent times.

North America has emerged as the key consumer of food flavoring products across the world and is expected to remain the same in the coming years. The increased preference for healthy yet tasty food is propelling the usage of flavoring products in food and beverages in this region, inducing significant momentum in North America food flavoring market.

Asia Pacific, on the other hand, is likely to record strong growth in the demand for food flavoring products in the near future. The rise in the disposable income and the growing influence of western culture is likely to boost the usage of these products in Asia Pacific in the years to come.

Overall, the market exhibits significant potential for future growth. However, several factors may hinder its progression over the forthcoming years. The main among them is the increasing incidence of adverse effects caused by synthetic flavors. The growing awareness among people regarding natural ingredients is reducing the demand for synthetic flavors in particular and food flavoring products at large.

A number of stringent government regulations implemented in several economies across the world, limiting the usage of added flavors, are also expected to influence the worldwide flavoring market negatively over the next few years.

Companies Mentioned in the Research Report

The global market for food flavoring demonstrates a highly concentrated and competitive landscape due to the presence of a large pool of market players. Wild Flavors GmbH, Firmenich SA, V. Mane Fils SA, Kerry Group Plc., Givaudan SA, Sensient Technologies Corp., Symrise AG, Frutarom Industries Ltd., International Flavors & Fragrances Inc., Huabao International, Hasegawa Co. Ltd., and Takasago International Corp. are some of the leading companies operating in this market.

Major regions analyzed under this research report are:

  • Europe
  • North America
  • Asia Pacific
  • Rest of the World

The report offers a comprehensive evaluation of the market. It does so via in-depth insights, understanding market evolution by tracking historical developments, and analyzing the present scenario and future projections based on optimistic and likely scenarios. Each research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology developments, types, applications, and the competitive landscape. 

The study is a source of reliable data on:

  • Key market segments and sub-segments
  • Evolving market trends and dynamics
  • Changing supply and demand scenarios
  • Quantifying market opportunities through market sizing and market forecasting
  • Tracking current trends/opportunities/challenges
  • Competitive insights
  • Opportunity mapping in terms of technological breakthroughs 

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
  • Eastern Europe (Poland, Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, North Africa) 

TMR estimates the market size of various sectors using a combination of available data on the number and revenue of companies within each sub-sector and tiers of companies. The basic components used to determine market size and forecast for a specific product area are not only limited to supply-side data, but are also related to demand, industry trends, and the economic outlook. All the above data points are utilized to generate a statistical model targeting the sector marketplace. More than 300 TMR analysts across the world integrate these elements into a framework to determine the subsector market size for a base year and then forecast growth within each market. 

TMR regularly interviews technology and business professionals as an ongoing effort to track the latest developments within each sector. These continuous surveys are stratified by company size and industry segment and weighted to reflect the global market place.  All data are collected on an ongoing effort through a structured questionnaire rolled over the web or conducted via telephones. This provides the TMR team opportunities to request for detailed question sets, complex skip patterns, and real-time calculations, which assists respondents in answering questions involving numbers and percentages. Respondents, who are interviewed as experts, are screened and qualified based on certain criteria in addition to their decision-making authority and the scope of activity within their organizations.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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