Biotech Flavors Market - Forecast(2021 - 2026)
Biotech Flavors Market size is estimated to be $37.3 billion in 2019, growing at a CAGR of 6.8% during the forecast period 2020-2025.Increasing awareness of nutritional benefits from biotech , rising use of biotech flavors in cakes & confectionary, use of biotech in pharmaceutical and cosmetic is a major factor driving the Biotech Flavors Market during the forecast period 2020-2025. Futher more, recent developments in microorganisms and transgenic research have spawned numerous studies in the use of metabolic engineering of biosynthetic pathways to produce high-value secondary metabolites that can enhance the flavors of food products. In addition it is playing an important role in breeding of food crops for enhanced flavor. With a larger section of the employed population, the demand for convenience flavored foods is higher which is likely to boost the economic income of the biotech flavors market in the coming years.
Report Coverage
The report: “Biotech Flavors Market Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Biotech Flavors Market.
By Type-Vanilla, Fruity, Sweet, Savory and Others
By Form- Liquid, Powder, Paste and Others.
By Application-Food, Dairy, Beverages, Nutraceuticals, Cosmetic, Detergents and Others.
By Geography-North America, Europe, Asia Pacific and RoW.
Key Takeaways
Vanilla accounted for the largest market share in 2019 owing to the various products of cakes used in celebration is driving its market growth during the forecast period 2020-2025.
The Beverages is projected to be the fastest growing application with a CAGR of 5.3% during the forecast period 2020-2025. This is owing to the increasing consumption of beverages around the world.
North America dominated the Biotech Flavors Market in 2019 owing the increasing awareness of nutraceuticals, increasing demand of flavored drinks & beverages in that region.
Increasing awareness among consumers regarding nutritional benefits of biotech flavor is a significant factor driving the biotech flavor market during the forecast period 2020-2025
By Type of Product- Segment Analysis
By Type the Biotech Flavors Market is segmented into Vanilla, Fruity, Sweet, Savory and others. Among these the vanilla accounted for the largest market share in 2019 owing to the various products of cakes & confectionary used in celebration is driving its market growth during the forecast period 2020-2025.Moreover, the use of ricotta cheese cakes which contains ricotta cheese is considered to be as light as compared to any other cheese. In addition it is healthy as it contains nutrients like protein, phosphorous, vitamin A, vitamin B and zinc. Increasing health concern along with changing lifestyle and rapid urbanization is driving the biotech flavors market during the forecast period 2020-2025.Futhermore, vanilla is rich in antioxidants which helps to repair the body at the molecular level. In addition they have been leaser risk to various diseases such as cancer and diabetes. Furthermore, they reduce the effect of aging and promote more vibrant skin.
By Application - Segment Analysis
The Beverages is forecast to be one of the fastest growing segments of biotech flavors owing the increasing consumption of beverages around the world. Furthermore, changing lifestyle and the preference of people for energy drinks, fruit juices along with their nutritional benefits is contributing to its market growth. Moreover, drinking beverages such as milk provides an excellent source of protein rich in nutrient necessary for strengthening bones as well as teeth. Calcium is also important for strengthening bones conditions like osteoporosis and arthritis. Furthermore, the growth is driven by the rising demand of convenience food products with different flavors to save both customers time and effort, given their hectic schedules. Owing to these benefits of biotech flavors, there is an upsurge in the demands of these products and the market and is estimated to witness significant growth during the forecast period 2020-2025.
Geography- Segment Analysis
North America dominated the Biotech Flavors Market in 2019 accounting for 41% of the market by region. This is owing to the increasing awareness of nutrition benefits, increasing demand of flavored drinks & beverages in that region. Furthermore, the ingredients such as fruits, herbs, and vegetables used bakery processes also depend largely on this unique freezing procedure whereby promoting the growth of biotech flavors market to be driven. Furthermore, the presence of major players such as IFF and Sensient Technologies Ltd is also contributing to its market growth.
Drivers – Biotech Flavors Market
Increasing Awareness Among Consumer Regarding Nutritional Benefits of Biotech Flavors
Increasing awareness among consumers regarding nutritional benefits of biotech flavor is a significant factor driving the biotech flavor market during the forecast period 2020-2025.Moreover, the ingredients such as vanilla and fruity used in the bakery process largely depend on its unique freezing procedure thereby driving its market growth. Furthermore the increasing demand of fruit juices and beverages is also contributing to its market growth. Growing developments in biotechnology in the world is a major factor driving the Biotech Flavors Market during the forecast period 2020-2025.
Cost-Effectiveness
Cost-effectiveness is a major factor driving the Biotech Flavors Market during the forecast period 2020-2025. Changing lifestyle along with the growing the health concern and hectic schedules of people around the world is further driving its market. Furthermore, the wide acclamation in celebratory events and household occasion there is a demand for cakes and pastries at affordable prices which is further contributing to its market growth.
Challenges – Biotech Flavors Market
Low-Shelf Life of Biotech Flavors
Some of the factors that is set to impede the growth of Biotech Flavors Market are the low shelf life of biotech flavors and the price of raw materials for bakery products during the forecast period 2020-2025.Moreover, owing to its low shelf life there are chance of the products getting spoiled earlier thereby restraining its market growth.
Biotech Flavors Market Industry Outlook
Product Launches, Merger & Acquistion, joint ventures and R&D activities are key strategies adopted by the players in Biotech Flavors Market. Biotech Flavors Market top 10 companies are Bell Flavors and Fragrances Inc, Givaudan SA, International Flavor & Fragrances Inc, Sensient Technologies Corporation, Symrise AG, Kerry Group, Firmenich, Naturex, Takasago International Corporation and Frutarom Industries.
Acquisitions/Product Launches
September 2019: Bell Flavors & Fragrances EMEA launched a range of new products for the development of authentic natural products.
Report Coverage
The report: “Biotech Flavors Market Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Biotech Flavors Market.
By Type-Vanilla, Fruity, Sweet, Savory and Others
By Form- Liquid, Powder, Paste and Others.
By Application-Food, Dairy, Beverages, Nutraceuticals, Cosmetic, Detergents and Others.
By Geography-North America, Europe, Asia Pacific and RoW.
Key Takeaways
Vanilla accounted for the largest market share in 2019 owing to the various products of cakes used in celebration is driving its market growth during the forecast period 2020-2025.
The Beverages is projected to be the fastest growing application with a CAGR of 5.3% during the forecast period 2020-2025. This is owing to the increasing consumption of beverages around the world.
North America dominated the Biotech Flavors Market in 2019 owing the increasing awareness of nutraceuticals, increasing demand of flavored drinks & beverages in that region.
Increasing awareness among consumers regarding nutritional benefits of biotech flavor is a significant factor driving the biotech flavor market during the forecast period 2020-2025
By Type of Product- Segment Analysis
By Type the Biotech Flavors Market is segmented into Vanilla, Fruity, Sweet, Savory and others. Among these the vanilla accounted for the largest market share in 2019 owing to the various products of cakes & confectionary used in celebration is driving its market growth during the forecast period 2020-2025.Moreover, the use of ricotta cheese cakes which contains ricotta cheese is considered to be as light as compared to any other cheese. In addition it is healthy as it contains nutrients like protein, phosphorous, vitamin A, vitamin B and zinc. Increasing health concern along with changing lifestyle and rapid urbanization is driving the biotech flavors market during the forecast period 2020-2025.Futhermore, vanilla is rich in antioxidants which helps to repair the body at the molecular level. In addition they have been leaser risk to various diseases such as cancer and diabetes. Furthermore, they reduce the effect of aging and promote more vibrant skin.
By Application - Segment Analysis
The Beverages is forecast to be one of the fastest growing segments of biotech flavors owing the increasing consumption of beverages around the world. Furthermore, changing lifestyle and the preference of people for energy drinks, fruit juices along with their nutritional benefits is contributing to its market growth. Moreover, drinking beverages such as milk provides an excellent source of protein rich in nutrient necessary for strengthening bones as well as teeth. Calcium is also important for strengthening bones conditions like osteoporosis and arthritis. Furthermore, the growth is driven by the rising demand of convenience food products with different flavors to save both customers time and effort, given their hectic schedules. Owing to these benefits of biotech flavors, there is an upsurge in the demands of these products and the market and is estimated to witness significant growth during the forecast period 2020-2025.
Geography- Segment Analysis
North America dominated the Biotech Flavors Market in 2019 accounting for 41% of the market by region. This is owing to the increasing awareness of nutrition benefits, increasing demand of flavored drinks & beverages in that region. Furthermore, the ingredients such as fruits, herbs, and vegetables used bakery processes also depend largely on this unique freezing procedure whereby promoting the growth of biotech flavors market to be driven. Furthermore, the presence of major players such as IFF and Sensient Technologies Ltd is also contributing to its market growth.
Drivers – Biotech Flavors Market
Increasing Awareness Among Consumer Regarding Nutritional Benefits of Biotech Flavors
Increasing awareness among consumers regarding nutritional benefits of biotech flavor is a significant factor driving the biotech flavor market during the forecast period 2020-2025.Moreover, the ingredients such as vanilla and fruity used in the bakery process largely depend on its unique freezing procedure thereby driving its market growth. Furthermore the increasing demand of fruit juices and beverages is also contributing to its market growth. Growing developments in biotechnology in the world is a major factor driving the Biotech Flavors Market during the forecast period 2020-2025.
Cost-Effectiveness
Cost-effectiveness is a major factor driving the Biotech Flavors Market during the forecast period 2020-2025. Changing lifestyle along with the growing the health concern and hectic schedules of people around the world is further driving its market. Furthermore, the wide acclamation in celebratory events and household occasion there is a demand for cakes and pastries at affordable prices which is further contributing to its market growth.
Challenges – Biotech Flavors Market
Low-Shelf Life of Biotech Flavors
Some of the factors that is set to impede the growth of Biotech Flavors Market are the low shelf life of biotech flavors and the price of raw materials for bakery products during the forecast period 2020-2025.Moreover, owing to its low shelf life there are chance of the products getting spoiled earlier thereby restraining its market growth.
Biotech Flavors Market Industry Outlook
Product Launches, Merger & Acquistion, joint ventures and R&D activities are key strategies adopted by the players in Biotech Flavors Market. Biotech Flavors Market top 10 companies are Bell Flavors and Fragrances Inc, Givaudan SA, International Flavor & Fragrances Inc, Sensient Technologies Corporation, Symrise AG, Kerry Group, Firmenich, Naturex, Takasago International Corporation and Frutarom Industries.
Acquisitions/Product Launches
September 2019: Bell Flavors & Fragrances EMEA launched a range of new products for the development of authentic natural products.
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