Frbiz Report: China's Food and Beverage Industry Drives Flavor and Fragrance Industry Development

Oct 12, 2010, 10:00 ET from Frbiz.com

BEIJING, Oct. 12 /PRNewswire-Asia/ -- Frbiz reports that in recent years, China's food and beverage industry has seen fast development. With the urbanization process continuing to accelerate and the structure of consumer groups changing, residents' consumption structure has changed from a survival style to that of enjoyment. In such a transformation process, the obvious characteristic is an increase in the consumption of animal food and milk products, such as meat and eggs. In the future, with China's rural residents' and low-income residents' consumption ability improving, food and beverage consumption per capita will further increased.

In China, the development of the food industry drives food additives research, development, production and applications. Currently, food additives have entered a mature and steady growth period. Flavors and fragrances have also become seen steady development as part of the food additives industry.

By 2014, the food and beverage processing industry will still occupy the global flavors and fragrances market's biggest share. Analysts believe that the rapid development of the food and beverage industry will stimulate demand growth, because of flavors usually used to conceal vitamins, minerals, antioxidants and other additives' odors. In addition, fast food and other convenience food prevalence also will further stimulate flavors and fragrances' market growth.

The world spice industry's most developed countries are mainly the United States, Britain, Switzerland, the Netherlands, France, Germany and Japan. But with the spice industrial groups' mergers and reorganization, these multinational companies sales volumes are greatly improved, with more attention and funds becoming available to scientific and technological innovation. Each year of R&D costs are usually around 5-10% of sales.

For food and beverage industry growth, China's domestic flavors and fragrances industry should seize this opportunity for fast development.

Under the food and beverage industry's fast development environment, the flavors and fragrances industry should seize the opportunity to make up for deficiencies.

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