South Africa Food Flavor and Enhancer market- Growth, Trends and Forecast (2020 - 2025)

South Africa Food Flavor and Enhancer market- Growth, Trends and Forecast (2020 - 2025)

South Africa Food Flavor and Enhancer market is projected to grow at a CAGR of 5.1% during the forecast period (2020-2025).

  • Globalization and modernization have changed the lifestyle of the people which in turn changed the food habits, thus increasing demand for the 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.
Key Market Trends

Growing Demand for Natural Flavors

Due to the demand for healthy food and awareness associated with the consumption of synthetic flavors have given rise to the adoption of natural flavors. Furthermore, changing consumer preference and lifestyle, the growing purchasing power of consumers is favoring the demand for natural flavors in their food. Younger consumers are driving the trend towards more natural and organic flavors as they read labels and are interested in finding the origin of the ingredients. Manufacturers are continuing to develop more natural formulations and brands realizing that consumers are willing to pay a premium price for the natural and sustainably sourced.

Increased Application in Beverages

Food flavor application in beverages includes alcoholic beverages, carbonated drinks, coffee & tea, energy drinks, flavored water, juice-based drinks, and sports drinks. New innovations in functional beverages and flavoring are attracting health-conscious consumers as companies functioning in the beverages sector are using natural and healthy ingredients that are perceived by the consumers as healthy due to the safety concerns regarding artificial flavors. Flavor derived from fruits and vegetables are underutilized in the beverage industry and thus there are several opportunities available to manufacturers interested in integrating fruit flavors into products. ‚Äč

Competitive Landscape

South Africa Food Flavor and Enhancer market is consolidated with the major players holding the maximum share in the market. The key strategies adopted by the companies are new product innovation, mergers, and acquisitions, partnerships, and expansion. The major players are Givaudan, Firmenich, Kerry Group, International Flavors and Fragrances Inc. and Koninklijke DSM N.V. among others.

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1 INTRODUCTION
1.1 Study Assumptions & Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Flavors
5.1.1.1 Natural Flavors
5.1.1.2 Nature-Identical Flavors
5.1.1.3 Synthetic Flavors
5.1.2 Flavor Enhancers
5.2 By Application
5.2.1 Bakery
5.2.2 Confectionery
5.2.3 Dairy
5.2.4 Beverages
5.2.5 Savory Snacks
5.2.6 Soups and Sauces
5.2.7 Others
6 COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Position Analysis
6.3 Company Profiles
6.3.1 Givaudan
6.3.2 Firmenich
6.3.3 Kerry Group
6.3.4 International Flavors and Fragrances Inc.
6.3.5 Koninklijke DSM N.V.
6.3.6 Symsrise AG
6.3.7 Fruition
6.3.8 Teubes oils out of Africa
7 MARKET OPPORTUNITIES AND FUTURE TRENDS

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