Flavors are an integral part of the beverage industry as every beverage has a certain flavor be it alcoholic or non-alcoholic beverage. The importance of flavor in beverages is high as it encompasses not only the taste but also the smell, and the physical trait in mouth such as cold or heat. Source of flavor can be natural such as fruits, trees, leaves, vegetables or it could be synthetic. The global beverage flavor Market is anticipated to witness double-digit cagr during the forecast period from 2017 to 2025 on account of the growing efforts taken by market players to come up with Innovations and aggregations in the existing flavor range.
One of the key trends that are attracting consumers towards beverages is the convenient packaging. The increasing dynamics of changing preferences of consumers regarding drinks and the growing culture experimentations with beverages will also strengthen the growth of the global beverages flavor market. In addition to this the increasing more than trade culture will also act as a fuel and accelerate the growth of the global beverages flavor market. In addition to this, market players are making use of flavors which have healthy attributes which are increasingly attracting consumers. With respect to this, the trend of consumers opting for natural and healthy organic based flavors is increasing.
There are a few issues which are anticipated to restrict the growth of a global beverages flavor Market. One of the key factors limiting the growth of this Market is the Lowe's shelf life of flavored beverages. High Cost of Premium flavors and high dosage levels as of the other roadblocks that will prevent the global beverages flavor Market to reach its true potential. The slow inclusion rates of natural flavors and colors will also hamper the growth of this market.
On the basis of geography, the global beverages flavor Market segmentation to Latin America, North America, Asia Pacific, Europe, and the Middle East and Africa. Of these, the highest growth in terms of CAGR is predicted to be witnessed by Latin America, even though the strength of Brazil's beverage flavor Market will be limited. The market for beverages flavor in North America will also deliver a double-digit CAGR during the forecast period. The Middle East and Africa, and Europe are also expected to hold promise of growth on account of their increasing consumption of beverages. Asia Pacific is also expected to witness a healthy growth within the beverages flavor market.
Leading players operating within the global beverages flavor market are: Wild flavors, Synergy, Allen flavors Inc., Beverage flavors International, Brisan ingredients, Flavorman, Blue pacific flavors, Imbibe, Wixon, and Sensient.
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