The
growing
consumer preference for ready-to-eat food products is expected to
propel the demand for food flavorings, states Transparency Market
Research (TMR) in a research report. The report is titled “Food
Flavoring Market - Global Industry Size, Market Share, Trends,
Analysis, and Forecast 2016–2024.”
View
exclusive Global strategic Business
report:http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=1918
According
to the report, the demand for food flavoring products is expected to
gain momentum over the next couple of years owing to the high
consumption of appetizing food products. The growing consumption of
premium and gourmet food items has led to a significant rise in the
sales of good quality food flavors. Market players can capitalize on
the opportunities that are likely to arise from the shifting taste
preferences of consumers.
One
of the key drivers in the global food flavoring market is the
proliferating urbanization in developing countries. The rising
purchasing power of consumers is further expected to bode well for
this market. The escalating income levels of consumers in emerging
economies has stirred the consumption of functional and convenient
food products, thus accelerating the sales of food flavoring items.
Moreover, the westernization of food habits in developing countries
is also anticipated to drive the demand for food flavoring products.
Manufacturers
of food flavoring products are likely to gain from untapped and
emerging markets in regions such as Asia Pacific. Additionally, the
discovery of new sources of raw materials and an increase in the
demand for food flavors accompanied with health benefits are expected
to present a plethora of opportunities for market players. However,
the market is expected to face challenges from the dearth of natural
flavors and volatility in their prices. The adverse health effects of
both synthetic and natural added flavors are also expected to hinder
the demand for food flavoring products.
The
report presents a comprehensive analysis of the historical growth
trajectory, current scenario, and future growth of the global
food flavoring market. It evaluates the factors that are likely
to drive or restraint the growth of the market. The study also
estimates the revenue and volume growth of the market. It provides an
outlook of the key strategies, shares, and products of the leading
companies operating in the global food flavoring market.
Geographically, North America emerged as the dominant region in terms of the consumption of food flavoring products and is likely to retain a lead owing to the high employment of food flavoring products in the food and beverages industry. On the other hand, Asia Pacific is projected to exhibit strong growth over the forthcoming years. The leading players operating in the global food flavoring market are Symrise AG, International Flavors & Fragrances Inc., Wild Flavors GmbH, Firmenich SA, Kerry Group Plc., and Givaudan SA.
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