ALBANY, New York, Feb. 5, 2020 /PRNewswire/ -- The food and beverages industry is witnessing tremendous demand for functional foods as consumers shift preference towards healthier variants of tasteful items. Additionally, a growing consciousness towards environmental conservation is also driving demand for biotech flavors up substantially as these are not dependent on harvest techniques for production.
The global biotech flavors market would chart a stellar growth rate of 9%, compounded annually from 2019 to 2029, surpassing market value of 134 metric tons by the end of the stated period, as per research findings compiled by Transparency Market Research.
As per TMR, "Healthful variants of flavored milk and sweeteners will govern the success of global biotech flavors market. However, players will have to focus on the economics of the products to ensure success on the racks."
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Key Findings of the Biotech Flavors Market Study
- Fruity flavors to drive high demand in the market over the forecast period owing to demand from bakery, nutraceuticals, and dairy products manufacturing
- Beverages will account for major share in applications owing to successful replacement of sugar and easy introduction of flavors in any liquid
- Asia Pacific to grow at the back of growing awareness regarding health and wellness while North America will benefit from the shift to preference for natural products over artificial options
To gain insights into trends, drivers, regional projections, and key research findings, explore 150 pages of extensive research study on Biotech Flavors Market, carried out by Transparency Market Research. Insights include information by Form: Liquid, Powder, Paste, Others; Flavor: Vanilla & Vanillin, Fruity Flavors, Essential Oils, Microbial Products, Others; Application: Dairy Products, Beverages, Confectioneries, Non-dairy Ice Cream, Bakery Products, Nutraceuticals, Others, 2019 to 2029 at, https://www.transparencymarketresearch.com/biotech-flavor-market.html
Biotech Flavors Market: Key Driving Factors
As per the findings reported in Transparency Market Research study on global biotech flavors market, need to move away from seasonal fluctuations in growing crops for crops, seeds, and other agricultural produce, and to reduce negative impact of these traditional practices such as high water use is driving significant growth. Few critical factors supporting this trend are,
- 0.42 bn. people had diabetes and 2014 worldwide, and in 2017 some 0.03 bn. were in the United States alone
- The number is rising rapidly with 1.6 mn. deaths caused by diabetes in 2016, becoming the 7th leading cause of death globally
- 1.9 bn. people were obese in the year 2016 – a figure that translates to 39% of global population - this requires healthier food options in the future for better management
- On-going research and development by players such as Evolva, which is working to produce Stevia (a Cargill) product via fermentation
Key Impediments for Biotech Flavors Market Players
One of the restraints that will keep the global biotech flavors market from reaching full potential over the forecast period is:
- Adaptation of flavors for use in solid foods as noted in the use of sugar replacements
- Sugar not just sweetens, but also crystallizes, caramelizes and provides texture to food; So far, it has been hard to find the sweet spot in combining biotechnology with taste and feel of products
- For instance, in a cake, stevia sweetens but does not help the cake taste like one
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Biotech Flavors Market: Region-wise Analysis
- Increase in penetration of biotech flavors in the United States, along with high awareness is helping United States be a lucrative market; presence of strong players propelling North American market landscape grow
- Asia Pacific to be fastest growing market over the forecast period as consumers willing to spend premium price for premium products – an outcome of improving disposable incomes in the economies marking the regional landscape
Analyze biotech flavors market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study,
The global biotech flavors market is fragmented owing to presence of a large number of players. It is worth noting here that they are actively involved in Research and Development (R&D) in order to mark off a larger share for themselves. Besides, key alliances to combine resources and know-how might emerge over the period. Besides, it is noteworthy that the global biotech flavors market players can only be driven on an upward growth curve if good economics is married to the health factor.
Some of the players that have made remarkable contribution to the field and are well-known in the market include Givaudan, Sensient Technologies Corporation, Bell Flavors and Fragrances, Symrise AG, International Flavors & Fragrances, Inc., Takasago International Corporation, Frutarom Industries Ltd., Naturex group, Firmenich S.A., and Kerry Group Plc, among others.
Transparency Market Research has segmented the global biotech flavors market report based on form, flavor, application, and region.
Biotech Flavors Market Form Outlook (Revenue, USD Million 2019-2029)
Biotech Flavors Market Flavor Outlook (Revenue, USD Million 2019-2029)
- Vanilla & Vanillin
- Fruity Flavors
- Essential Oils
- Microbial Products
Biotech Flavors Market Application Outlook (Revenue, USD Million 2019-2029)
- Dairy Products
- Confectionery Products
- Non-dairy Ice Cream
- Bakery Products
Biotech Flavors Market Region-wise Outlook (Revenue, USD Million 2019-2029)
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- Asia Pacific
- Australia and New Zealand
- Rest of Asia Pacific
- Middle East & Africa
- North Africa
- South Africa
- Rest of MEA
Explore Transparency Market Research's award-winning coverage of the global Food industry,
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