According to a new study by TMR, the sales of biotech flavors are estimated to reach 134,422 metric tons in2019. Thebiotech flavors marketis projected to record a Y-o-Y growth of ~9% during the forecast period. Growth of the biotech flavors market remains driven by a slew of aspects, which range from increased market demand for clean label products and changing regulations in the food and beverage industry, to growing awareness among consumers.
In this report, the biotech flavors market is classified on the basis of flavor, form, application, and region. The biotech flavors market in North America is expected to contribute ~US$ 1 Bn to the global biotech flavors market by the end of 2029. The beverages segment among the applications in the biotech flavors market is expected to remain dominant during the forecast period in terms of value and volume, due to high usage in the biotech flavors market. Among the form segments of biotech flavors, the liquid segment is expected to account for relatively high value and volume share of the biotech flavors market during the forecast period.
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Uncertain Weather Condition Political Instability Affecting Raw Material Supply
Erratic supply of raw materials due to unfavorable weather conditions, seasonal or crop violations, natural calamities, and political instability is a big problem for natural flavor manufacturers in growing regions. Consistent supply of raw material and quality of flavoring agents dramatically influence the final product quality and consumer acceptance. Enhanced flavor production through the traditional plant breeding process is currently not a mechanism preferred by flavoring agent suppliers, as it does not produce quality flavor.
The flavor production system based on plant tissue culture (PTC), microbial fermentation, or bioconversion, overcomes many of these limitation. These bio-tech processes provide the industry with consistent quality and unlimited production capacity at reduced cost. Furthermore, with the introduction of the biotech process, food and beverage manufacturing companies can now produce new compounds or convert low-value substances into high value compounds by bio-transformation. Since flavors are generally expensive as compared to other ingredients of processed foods, the flavor industry is adopting the bio-technology-based system.
Global Biotech Flavors Market: Competitive Landscape
Key players in the global biotech flavors market have been profiled in the biotech flavors market report. Some of the main players in the biotech flavors market includeGivaudan, 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, and many more.
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Global Biotech Flavors Market: Segmentation
The globalbiotech flavors market has been segmented into form, flavor, application, and region.
Biotech Flavors Market by Form
- Liquid
- Powder
- Paste
- Others
Biotech Flavors Market by Flavor
- Vanilla Vanillin
- Fruity Flavors
- Essential Oils
- Microbial Products
- Others
Biotech Flavors Market by Application
- Dairy Products
- Beverages
- Confectionery Products
- Non-dairy Ice Cream
- Bakery Products
- Nutraceuticals
- Others
Fruity, Vanilla Vanillin Flavors Expected to Witness Most Demand in Future
The food and beverages industry has always found it difficult to manufacture products that are both good to taste as well as have health and environmental benefits. Hence, biotech flavors are emerging as a solution to improve the flavor in food items without causing harm to the health and environment.
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The global biotech flavor market has several types of flavors such asvanillaand vanillin,essential oil, microbial products, fruity, and others. Among them, fruity as well as vanilla and vanillin have been identified as the flavors in most demand. It is estimated that the demand for fruity flavor will increase because of the large demand for processed food and beverages worldwide.
The demand for biotech flavors primarily witnesses demand from bakery products, nutraceuticals,dairy products, non-dairy ice creams, confectionaries, and beverages. Among them, it has been observed that biotech flavors have been used in beverages and the rise in demand for flavored beverages has propelled the biotech flavor market.
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