The
global food flavors market is
expected to post a CAGR of over 5% during the period 2019-2023, according to
the latest market research report by Technavio.
All processed foods contain some amount of natural or artificial
flavors. Hence, with the increase in demand for processed foods, the demand for
different varieties of food flavors as additives is expected to increase.
Different types of natural and artificial flavors are used to impart a
characteristic taste, which makes it more appealing to consumers. Thus, such
factors are expected to boost market growth during the forecast period.
As per Technavio, the technological advances in the food flavor
industry will have a positive impact on the market and contribute to its growth
significantly over the forecast period. This global food flavors market
2019-2023 research report also analyzes other
important trends and market drivers that will affect market growth over
2019-2023.
Global Food Flavors Market: Technological Advances in Food
Flavor Industry
Numerous local and global vendors in the food flavors market are
adopting new technologies to produce improved varieties of natural and
synthetic flavors. These vendors are increasingly engaging in several R&D
activities to introduce innovation and technological advances. Such activities
will increase the demand for food flavors. Manufacturers in the food industry
have also developed certain advances in techniques for flavor recovery in
liquid food processing to enhance the flavor profile of liquid food products.
Moreover, there is a growing interest among food manufacturers
to develop multisensory technologies for flavor augmentation, which will help
in improving the experience of consumers. Manufacturers are also seen inventing
advanced technologies for the extraction of flavors to retain the flavor
derived from natural ingredients, particularly fruits. Some of the popular
technologies include supercritical carbon dioxide technology, solid-liquid
extraction (SLE), high-power ultrasound, and supercritical fluid extraction
(SEE). Such innovations and technological advances are emerging as a popular
trend, which will help to accelerate the growth momentum of the market during
the forecast period.
“Apart from the technological advances in the food flavor
industry, the increasing number of M&A activities and premiumization in
food and beverage industry are some other factors that will boost market growth
during the forecast period,” says a senior analyst
at Technavio.
Global Food Flavors Market: Segmentation Analysis
This market research report segments the global food flavors
market by product (natural flavors and artificial flavors) and geographical
regions (Europe, North America, APAC, South America, and MEA).
The European region led the market in 2018, followed by North
America, APAC, South America, and MEA respectively. However, during the
forecast period, the APAC region is expected to register the highest
incremental growth due to the growing demand for processed food in the region.
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