Italy Food Flavor and Enhancer Market- Growth, Trends, and Forecast (2020 - 2025)
The Italy Food Flavor and Enhancer market is expected to grow at a CAGR of 4.8% over the forecast period, 2020 to 2025.
- The key building blocks in the food and beverage industry are the food flavors and enhancers, which along with growing innovation in this highly competitive market can be attributed to the growth in this segment. Region-wise and country-specific adoption to flavors & flavor enhancers by manufacturers is the trigger to innovation.
- On the other hand, a growing preference for processed foods is one of the positive trends for the food flavor and enhancers market to prosper. The market is driven by the changing lifestyle, increasing demand for a healthy ingredients, and influential trends for new exotic and ethnic flavors. With a rising preference for premium-quality products, including premium lines of seasonings and sauces, the market is growing rapidly across the region.
Key Market Trends
Natural Flavors leads the Flavoring Bandwagon
Over the past years, along with Europe, Italy has witnessed a high demand for natural food additives as food companies shift away from synthetic ingredients and consumers look for products with natural ingredients. Many food additives/flavors are from developing countries, thereby providing strong opportunities for exporters. Italian consumers are willing to pay more for high-quality and healthy products, while demand for organic food and drink is increasing in the country. On the other hand, multinational companies have developed organic lines to complement their conventional product lines.
Bakery & Confectionery and Processed foods holds a significant share
Italy has a strong tradition for bakery products and confectionery that has led to the creation of different types of baked goods, both sweet and savory. This segment has facilitated the demand for flavor and enhancers, mostly naturals. On the other hand, an increasing working women population has led to a high demand for processed food which the food manufacturers need to cater to using a combination of different flavors and enhancers. Consumption of low fat, low salt, and low carbohydrate foods are also key drivers to increase the consumption of flavors and enhancers. As flavors are region and country-specific, manufacturers are constantly innovating to hold a larger share of the pie in the market.
A significant share of the flavor and enhancers market in Italy is dominated by a leading player named Givaudan, Firmenich, IFF, and rest other inclusive of Quest, Takasago, Sensient, Danisco, are the major player. Product innovation has been one of the front running strategies adopted by leading players to dominate the market, however, the market is mature in terms of the maturity of flavor & enhancers in entire Europe, thereby, dealing with novel flavor imports from Asia.
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