Global Food Flavoring Market: Rise in Disposable Income to Boost Demand, Says TMR

According to a new research report by Transparency Market Research (TMR), the increasing trend of urbanization and the significant rise in the purchasing power of consumers have boosted the global food flavoring market substantially.

The report, titled “Food Flavoring Market - Global Industry Size, Market Share, Trends, Analysis, and Forecast 2016–2024,” further states that the market will gain considerably from the significant surge in disposable income, worldwide, and the augmenting western influence on diets in emerging countries over the forthcoming years.

Although the market demonstrates lucrative potential for future growth, a number of factors may restrict its growth trajectory in the years to come. The main amongst them is the rising number of cases of adverse effects on consumers caused by synthetic flavors. The augmenting awareness level among people about natural ingredients is reflecting negatively on the demand for synthetic flavors and, consequently, food flavoring products, notes the study.

In this research report, the global market for food flavoring products has been broadly assessed on the basis of the type of the product, application, and the geographical presence of this market. Based on the type of the product, the market has been categorized into artificial flavorants, natural flavorants, and synthesized flavorants. Based on the application, the market has been classified into bakery, beverages, dairy, savory and snacks, confectionary, and frozen products.

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In terms of geography, the report has segmented the market into Europe, Asia Pacific, North America, and the Rest of the World. With the increased preference among consumers for food flavoring products for healthy yet tasty food, North America has surfaced as the leading regional food flavoring market across the world. Analysts anticipate this market to remain on the top over the period of the forecast.

Among other regional markets, Asia Pacific is expected to report a healthy rise in the demand for food flavoring products in the next few years, thanks to the rising disposable income and the increasing impact of the western culture on the eating habits of consumers, states the research report.

The competitive analysis of the global market for food flavoring has also been offered in this research report. The market appears highly concentrated and competitive, thanks to the presence of vendors in a large number. Some of the key vendors of food flavoring products across the world mentioned in this report are Hasegawa Co. Ltd., Wild Flavors GmbH, V. Mane Fils SA, Firmenich SA, Kerry Group Plc., Sensient Technologies Corp., Givaudan SA, Symrise AG, International Flavors & Fragrances Inc., Frutarom Industries Ltd., Huabao International, and Takasago International Corp.