Global Flavors & Flavor Enhancers Market: Trends and Opportunities (2013-2018)
The report titled “Global Flavors & Flavor Enhancers Market: Trends and Opportunities (2013-2018)” provides an in-depth analysis of global flavors and flavor enhancers market with regional focus on major markets like Europe and North America; emerging markets like Asia Pacific, Middle East & Africa. It also accesses the key opportunities and underlying trends in the market and outlines the factors that are and will be driving the growth of the industry in the forecasted period (2013-18). Further, key players of the industry like Givaudan, Firmenich, International Flavors and Fragrance, Inc. (IFF) and Symrise AG are profiled.
Middle East & Africa
International Flavors and Fragrance, Inc. (IFF)
Flavors and flavor enhancers are key building blocks that impart taste in processed food and beverages products. Flavors segment is the largest component of overall food ingredients market and the segment can be characterized as highly technical, specialized and innovative in nature. In comparison to other categories within the food and beverage market, this industry is highly competitive and concentrated. The companies that operate in the flavor and flavor enhancers industry develop and supply a variety of flavor and flavor enhancing ingredients and components to food and beverages, pharmaceuticals, food industries as well as to the suppliers of household products. Moreover, this industry is also region-specific and complex in nature with high variance in product formulations from country to country, as well as from region to region within countries. Processed foods, their flavors and textures, are made in accordance with local preference. Local or traditional foods have unique flavors evolving from the indigenous climate and land.
In recent years, the global flavors and flavor enhancers market is on the threshold of enormous growth. The growth of the segment is driven by expansion of global beverage industry, increase in demand for convenience food, changing consumer lifestyle and increase in number of sensory oriented consumers around the world. However, factors such as mounting raw material prices, regulatory limitations, high entry barrier and price pressure on manufacturers due to consolidation are affecting industry’s growth. Major trends prevailing in the market are consolidation in the industry, ‘No artificial flavors or colors’, emergence of biotech flavors and sensory trend.