Food additives or ingredients are essentially different classes of flavors that are used to provide a distinctive flavor profile to various food items. The flavor market has gradually grown due to the incorporation of new and innovative flavors in different food products. Flavors are also used to a great extent in applications such as nutraceutical, cosmetic & personal care, and other end-use applications apart from the food and beverage sector. The growth of technology and innovations in terms of product development the market has been demonstrating stable growth in the forecast period. Changing preferences of consumers are among the major factors that will be driving the development of the market in the forecast period.
Major Key Players
The prominent market players in the Flavour Market chiefly are Firmenich SA (Switzerland), Givaudan SA (Switzerland), S H Kelkar and Company Limited (India), International Flavors & Fragrances Inc. (U.S.), Kerry Group (India), Takasago International Corporation (Japan), Synergy Flavors, Inc. (U.S.), Symrise AG (Germany), Wild Flavors, Inc. (U.S.), Sensient Technologies Corporation (U.S.), Mane SA (U.S.), T.Hasegawa Co., Ltd (Japan) and Huabao International (Japan).
Flavour Market has been segmented on the basis of product type, application and country. The segmentation of the market on the basis of product type comprises of synthetic and natural. The natural segment is projected to develop swiftly as compared to the synthetic segment in the course of the forecast period from 2017 to 2022. On the basis of application, the flavour market has been segmented into beverages, food, cosmetic & personal care tobacco, and pharmaceutical. The countries included in the segmentation of the market comprises of India, Bangladesh, Sri Lanka and Nepal