Flavouring Agents Market 2019 Insights, Growth, Forecast 2024

Global Market Insights, Inc. has added a new report on Flavouring Agents Market that provides a comprehensive review of this industry with respect to the driving forces influencing the market size. Comprising the current and future trends defining the dynamics of this industry vertical, this report also incorporates the regional landscape of market in tandem with its competitive terrain.

Strong growth in global food & beverages spending coupled with an increasing demand towards convenience and RTE food will drive the flavoring agents market growth. Rapid rate of modernization and globalization in European countries have increased the necessity for flavoring agents in the food processing industry. The increasing consumption of low carbohydrate, low fat, and low salt food is the prime factor for increased flavored food demand and consumption.

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Strong business outlook as manufacturers have shifted their focus on acquiring a bigger industry share by formulating customized flavors, since flavors are country and region specific. Moreover, factors such as growing consumer awareness, increasing popularity of flavored beverages, a conducive regulatory scenario for fortified products, clean product labeling, and increasing demand for organic products are likely to propel flavoring agents market. However, the rising cost of raw materials for manufacturing natural flavors is a key challenge faced by industry participants.

Flavor manufacturers are constantly focusing on product innovation to better serve the food and beverage industry and expand their revenues. For instance, in 2018, Symrise AG introduced nutty flavors to enhance its product portfolio. Technological advancement and distribution channel expansion are among the key strategies adopted by industry participants to gain a competitive advantage in the global market. For instance, In November 2018, Givaudan introduced an innovation platform named MISTA, to collaborate with the food & beverage manufacturers by helping them to better understand and cater to the developing needs of the flavoring agents market.

Beverages hold a significant share of over 30% in the global flavoring agents market in 2018. Stiff competition in the beverage industry owing to high demand for flavored alcoholic and non-alcoholic beverages particularly in Asia Pacific, Latin America, and Middle East & Africa will augment the segment share over the forecast period. Additionally, strong demand for organically fortified beverages along with penetration of gluten-free beverages is expected to be the major growth driver for industry growth.

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Natural flavoring agents market are projected to witness the fastest growth at over 5% from 2019 to 2025. Stringent labeling norms owing to improved consumer awareness regarding products ingredients are urging the food & beverage manufacturers to use natural flavors in their products. Natural ingredients have a better chance of gaining customer’s attention, thus food manufacturers are gradually shifting their focus towards plant-based ingredients and additives. Dairy, beverages, confectionery, and convenience food providers are among the key consumers adopting natural flavors.

Asia Pacific flavoring agents market is expected to witness gains at over 5% CAGR up to 2025. Key aspects such as low cost of flavors and penetration of global food & beverage manufacturers contribute to the industry growth. Economic growth, rapid urbanization, along with busy lifestyles is augmenting the flavoring agents demand over the forecast timeframe. The increasing adoption of processed food and meat in the region is expected to drive product penetration in the regional industry. For instance, the processed food industry in India is projected to grow at over 14% over the next few years. Also, In February 2019, leading manufacturer Givaudan, has opened a flavor production facility in the country to increase its market share.

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The global flavoring agents market share is highly consolidated with the top four multinational players accounting for over 50% of the industry share. Key industry participants include International Flavors & Fragrances, Givaudan, Sensient Technologies Corporation, Firmenich, Robertet, MANE, T. Hasegawa, and Takasago International Corporation. New product development, investments on enhancing production capacity, and mergers & acquisitions are among the key strategies adopted by industry players to capture a higher industry share.

Partial Table of Content

Chapter 3. Flavoring Agents Industry Insights

  • 3.1 Industry segmentation
  • 3.2 Industry landscape, 2013 – 2025
  • 3.3 Industry ecosystem analysis, 2018
    • 3.3.1 Raw material suppliers
    • 3.3.2 Manufacturers
    • 3.3.3 Distribution channel analysis
    • 3.3.4 Profit margin analysis
    • 3.3.5 Vendor matrix
  • 3.4 Technology landscape
  • 3.5 Raw material analysis
  • 3.6 Global food and beverage industry outlook
  • 3.7 Regulatory landscape
    • 3.7.1.1 North America
    • 3.7.1.2 EU
    • 3.7.1.3 APAC
    • 3.7.1.4 LATAM
  • 3.8 Pricing analysis, 2013-2025
    • 3.8.1 Regional pricing
      • 3.8.1.1 North America
      • 3.8.1.2 Europe
      • 3.8.1.3 APAC
      • 3.8.1.4 LATAM
      • 3.8.1.5 MEA
    • 3.8.2 Cost structure analysis, 2018
  • 3.9 Industry impact forces
    • 3.9.1 Growth drivers
      • 3.9.1.1 North America
      • 3.9.1.2 Europe
      • 3.9.1.3 APAC
      • 3.9.1.4 LATAM
      • 3.9.1.5 MEA
    • 3.9.2 Industry pitfalls & challenges
  • 3.10 Growth potential analysis, 2018
  • 3.11 Porter’s analysis
  • 3.12 Competitive landscape, 2018
    • 3.12.1 Company market share analysis, 2018
    • 3.12.2 Strategy dashboard
    • 3.12.3 Key stakeholders
  • 3.13 PESTEL analysis

Chapter 4. Flavoring Agents Market, By Application

  • 4.1 Global flavoring agents market share by application, 2018 & 2025
  • 4.2 Beverages
    • 4.2.1 Market estimates and forecast, 2013 – 2025
    • 4.2.2 Market estimates and forecast, by region, 2013 – 2025
  • 4.3 Bakery
    • 4.3.1 Market estimates and forecast, 2013 – 2025
    • 4.3.2 Market estimates and forecast, by region, 2013 – 2025
  • 4.4 Dairy
    • 4.4.1 Market estimates and forecast, 2013 – 2025
    • 4.4.2 Market estimates and forecast, by region, 2013 – 2025
  • 4.5 Savory & convenience foods
    • 4.5.1 Market estimates and forecast, 2013 – 2025
    • 4.5.2 Market estimates and forecast, by region, 2013 – 2025
  • 4.6 Confectionery
    • 4.6.1 Market estimates and forecast, 2013 – 2025
    • 4.6.2 Market estimates and forecast, by region, 2013 – 2025
  • 4.7 Meat
    • 4.7.1 Market estimates and forecast, 2013 – 2025
    • 4.7.2 Market estimates and forecast, by region, 2013 – 2025
  • 4.8 Oral Hygiene/ pharmaceutical
    • 4.8.1 Market estimates and forecast, 2013 – 2025
    • 4.8.2 Market estimates and forecast, by region, 2013 – 2025
  • 4.9 Snacks
    • 4.9.1 Market estimates and forecast, 2013 – 2025
    • 4.9.2 Market estimates and forecast, by region, 2013 – 2025
  • 4.10 Others (Tobacco, infant food, and animal feed)
    • 4.10.1 Market estimates and forecast, 2013 – 2025
    • 4.10.2 Market estimates and forecast, by region, 2013 – 2025

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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