The latest intelligence report published by Report Ocean, titled “Global “Flavors (Food and Beverages) Market“2023: Increase in Demand and Opportunities,” offers valuable insights into the industry. The report provides a comprehensive analysis of research and information from various sources, empowering decision-makers worldwide to make a significant impact on the global economy. With a dynamic vision of the market size, statistics, and competitive landscape, the report presents a complete overview of the industry. It covers future trends, growth factors, consumption, production volume, CAGR value, opinions, profit margin, pricing, and industry-validated market data. This report assists individuals and market competitors in predicting future profitability and making crucial decisions for business growth.
The global flavors (food & beverages) market was valued at $12,474 million in 2016, and is expected to reach at $18,126 million in 2023, growing at a CAGR of 5.5% from 2017 to 2023. Flavors are essential part of the food processing industry that help to maintain the taste of a product. Food flavors are made of three components taste, smell, and color. Food & beverage industries require flavor for different purposes, such as new product development, addition of new product line, and change in the taste of existing product. High demand for new flavors from food & beverages industry, increase in demand from fast food industries, and continuous innovation have driven the global flavors (food & beverages) market. However, rise in health awareness among the global population is expected to hamper the market growth.
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Companies are expanding their geographical operations in the developing regions to maintain their growth rate. For example, Givaudan SA has recently started its manufacturing plant in Nigeria to increase its customer base. Key market players are also expanding their product portfolio to maintain the market profitability. For example, Kerry Group has added barbeque flavored meat snacks brand, Meateors, which is launched to target the male consumer between the age group of 20-32.
The report offers incisive information on other market strategies, such as collaboration, acquisition, and innovation. In addition, provide a deeper understanding of the segments of the global flavors (food & beverages) market based on type, end user, and geography. The type segment includes natural flavor and artificial flavor market, while the natural flavors are expected to be used in their natural form or processed form. Beverage companies in the U.S. and Europe prefer to use natural flavors. Artificial flavors are chemically derived and widely used in beverage industries. The end user segment consists of beverages, savory & snacks, bakery & confectioneries, dairy & frozen products, and animal & pet foods.
Beverages is the leading end user industry within the global flavors (food & beverages) market. Geographically, the market is segmented into Asia-Pacific, North America, Eastern Europe, Western Europe, LAMEA. Asia-Pacific is the largest market for food flavor followed by North America and Western Europe.
KEY BENEFITS FOR STAKEHOLDERS
The study provides an in-depth analysis of the global flavors (food & beverages) market and the current and future trends to elucidate the imminent investment pockets.
Major countries in each region are mapped according to individual market revenue.
The report provides information regarding key drivers, restraints, and opportunities and their impact analyses.
Quantitative analysis of the current market and estimations for the period of 2015-2023 have highlighted the financial caliber of the market.
Porter’s Five Forces model and SWOT analysis of the industry illustrate the potency of the buyers and suppliers participating in the market.
Value chain analysis in the report provides a clear understanding of the roles of stakeholders involved in the value chain.
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Major players operating in this market include the following:
Firmenich SA
Frutarom Industries Ltd.
Givaudan SA
Huabao International Holdings Limited
International Flavors & Fragrances Inc.
Kerry Group, Plc.
V. Mane Fils SA
Robertet SA
Sensient Technologies Corporation
Symrise AG
Takasago International Corporation
KEY PLAYERS
Wild Flavors, Inc,
T. Hasegawa Co., Ltd.
Bell Flavors and Fragrances, Inc.
Evolva Holding S.A.
Isobionics B.V.
Naturex S.A.
Nestec S.A.
The Chemical & Food Aromatic Plant LLC.
Flavors (Food & Beverages) Market Key Segments:
By Type
Natural
Artificial (Synthetic)
By End User
Beverages
Hot Drinks
Soft Drinks
Alcoholic Drinks
Dairy & Frozen Products
Dairy Products
Meat
Bakery & Confectionery
Bakery
Chocolate
Confectionery
Ice Cream
Savory & Snacks
Savory
Snacks
Animal & Pet Food
Animal Feed
Pet Food
By Geography
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
North America
U.S.
Canada
Mexico
Western Europe
UK
Germany
France
The Netherlands
Spain
Belgium
Rest of Western Europe
Eastern Europe
Russia
Poland
Czech Republic
Rest of Eastern Europe
Latin America
Brazil
Argentina
Colombia
Chile
Rest of Latin America
Middle East
Turkey
Israel
Iran
Saudi Arabia
Rest of Middle East
Africa
Morocco
South Africa
Nigeria
Rest of Africa
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Table of Contents:
- Introduction and Scope
- Definition and Forecast Parameters
- Methodology and Forecast Parameters
- Information Sources
- Latest Trends Summary
- Regional Trends
- Product Trends
- End-Use Trends
- Business Trends
- Industry Insights
- Industry Fragmentation
- Industry Landscape
- Vendor Matrix
- Technological and Innovative Landscape
- Market by Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
- Company Profiles
- Company Overview
- Financial Elements
- Product Landscape
- SWOT Analysis
- Systematic Outlook
Market Dynamics:
Drivers:
- Increasing emphasis on self-care and wellness, particularly among women. A
- Growing awareness of the health and beauty benefits offered by dietary supplements.
- Rising disposable incomes and willingness to invest in premium health and beauty products.
- Influence of social media and beauty influencers shaping consumer preferences.
- Changing lifestyles and health concerns driving the demand for supplementary nutrition.
Restraints:
- Lack of regulatory oversight and quality control in the supplements industry.
- Consumer skepticism and confusion regarding product claims and effectiveness.
- Potential risks and interactions with other medications or health conditions.
- Limited accessibility and affordability of supplements in certain regions.
Opportunities:
- Increasing demand for natural and organic supplements.
- Untapped market potential in the Asia-Pacific region.
- Development of innovative formulations and delivery methods.
- Collaborations with beauty brands or influencers for product endorsements.
- Integration of technology to personalize nutrition and enhance consumer experience.
Challenges:
- Intense competition among market players.
- Navigating regulatory complexities and meeting regional standards.
- Building trust and credibility with consumers.
- Educating consumers about the benefits and proper usage of supplements.
- Addressing concerns and skepticism regarding the safety and efficacy of supplements.
The report will include answers to the following key questions:
- What are the key current trends that can impact the product life cycle and return on investment?
- How do regulatory changes affect corporate, business, and functional strategies?
- Which initiatives by major players in micromarketing are likely to attract investment?
- What are the recommended frameworks and methodologies for conducting PESTLE analysis?
- In which areas are there emerging opportunities for growth and development?
- Which game-changing technologies will be instrumental in capturing new revenue streams in the near future?
- What operational and tactical frameworks are different players adopting to foster customer loyalty?
- What is the current level of market rivalry, and what is the expected degree of competition in the coming years?
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