The report on global biotech flavors market provides qualitative and quantitative analysis for the period of 2015 to 2023. According to the report the global biotech flavors market is projected to reach USD X.XX billion by 2023, growing with a CAGR of 9.5% from 2017 to 2023. The global biotech flavors market was worth USD 435.5 million in 2015.
Figure: Global Biotech Flavors Market by Value 2015-2023
The report identified that the global biotech flavors market is driven by factors such as high consumer awareness regarding the nutritional benefits of biotech flavors coupled with rising health consciousness among consumer. Moreover, biotech flavors market is driven by biotech processes such as plant tissue culture, microbial fermentation, and bio-conversion enable conversion of fruits and vegetables ingredients into flavors without having any adverse impact on nutritional value. On the other hand, the restraining factor identified in the study includes low-shelf life of the biotech flavors.
Various health benefits associated with biotech flavors such as reduced risk of metabolic disease and enhancement of antioxidant level anticipated showing growth opportunities for leading player. Increasing the shelf life of biotech flavors is the major challenge for manufactures to expand further
The report segments the global biotech flavors market by flavor, by form, by application and region. The segmentation based on flavor includes vanilla and vanillin, fruity flavor, and other flavors. On the basis of form, the market is segmented as liquid, powder and paste. On the basis of application market is segmented into dairy products, confectionery products, non-dairy ice-cream, bakery products and neutraceuticals.
Geographic Coverage and Analysis:
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2015 – 2023. North America dominated the global biotech flavors market, with market share of more than 32% in 2015 and likely to continue its dominance over the forecast period. Growth in this region is attributed to high awareness among consumers regarding the benefits of biotech flavors. APAC is the second largest biotech flavors market and it is anticipated to witness high growth rate over the forecast period. Strong demand for biotech flavors from emerging economies, such as China and India and health and wellness trend have driven the demand for biotech flavors in this region. Increasing demand for beverages in APAC region is expected to show huge opportunities for leading players over the forecast period.
The companies covered in the report include Givaudan, Sensient Technologies Corporation, Bell Flavors and Fragrances, Symrise AG, International Flavors & Fragrances, Inc.
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand of biotech flavors globally as well as regionally. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter’s five forces analysis and DRO analysis of biotech flavors.
Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the biotech flavors market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market. This report will help manufacturers, suppliers and distributors of the biotech flavors market to understand the present and future trends in this market and formulate their strategies accordingly.
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