Flavor Concentrates Market: Outlook

Flavor concentrates are substances that are added to foods and drinks to give it a particular taste. It generally comes under liquid and powder form, which can be easily soluble in the food products. Flavor concentrates are made from various ingredients that are mostly categorized as natural and synthetic ingredients, where natural flavor concentrates are more in demand from the consumers. Flavor concentrates are majorly used in the food and beverages industry to give a different flavor to the food products such as in bakery products, dairy products, confectioneries, snacks, drinks, and many more. This different application of flavor concentrates in the food industry fuels the growth in the global market. Therefore, the flavor concentrates market is subjected to show a lucrative growth opportunity in the forecast period.

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Increasing Trend of Natural Ingredients to Generate More Demand for Natural Flavor Concentrates

There has been rise in the consumption of natural flavor concentrates in the food industry, owing to the increasing health awareness among people around the world. People are shifting more towards natural and organic food products in their daily diet. Therefore, this shift of the population towards natural products is expected to boost the demand for natural flavor concentrate in the food industry during the forecast period. Manufacturers are also planning to develop more innovative and new natural flavor concentrates with various flavor and exotic taste that has no harm to the human health. They have adopted new & advanced technologies such as supercritical carbon dioxide extraction, solid-liquid extraction(SLE), supercritical fluid extraction, and many more. Hence, this innovation in the flavor concentrates help to drive the global market growth. Along with the above-mentioned drivers, there are some restrains in the flavor concentrates market that are likely to restrict its growth in the future such as presence of large number of players who are high performers in the market, which create a competitive restraint for the new players to enter into the market.

Global Flavor Concentrates Market: Segmentation:

The global flavor concentrates market is segmented on the basis of source, product type, forms, nature, application, and distribution channel.

On the basis of Source, the global flavor concentrates market has been segmented as –

  • Fruits
  • Vegetables
  • Species
  • Grains
  • Others (tobacco, plants, minerals)

On the basis of product type, the global flavor concentrates market has been segmented as –

  • Natural flavors concentrates
  • Synthetic flavors concentrates

On the basis of form, the global flavor concentrates market has been segmented as -

  • Liquid
  • Powder

On the basis of nature, the global flavor concentrates market has been segmented as –

  • Organic
  • Conventional

On the basis of application, the global Flavor concentrates market has been segmented as –

  • Dairy
  • Bakery
  • Confectionery
  • Snack
  • Beverages
  • Other applications

On the basis of distribution channel, the global flavor concentrates market has been segmented as –

  • Online store-based retailing
  • Store-based retailing
    • Hypermarket/Supermarket
    • Convenience stores
    • Grocery stores

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Flavor Concentrates Market: Regional Analysis

The global flavor concentrates market is majorly divided into seven regions such as North America, Latin America, Europe, South Asia, East Asia, Middle East & Africa, and Oceania. Among all these regions, the Asian countries has the largest market share in the flavor concentrate market as compare to the other regions. It is because of the high consumption of flavored confectionery, drinks, dairy, and bakery products in the region. Also, other regions such as North America, Latin America, and Europe are expected to show a high growth rate in the flavor concentrate market in the forecast period, due to growing demand for authentic & exotic food flavor concentrates from the people in the mentioned regions.

Flavor Concentrates Market: Key Participants

  • Archer Daniels Midland Company
  • Kerry Group PLC
  • Symrise AG
  • Frutarom Industries Ltd
  • Koninklijke DSM NV
  • Givaudan SA
  • Firmenich SA
  • Corbion NV
  • Takasago International Corporation
  • Sensient Technologies Corporation
  • International Flavors & Fragrances Inc.
  • FMC Corporation
  • NATCOL aisbl

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

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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