PORTLAND, Oregon, May 12, 2015 /PRNewswire/ --
A new report by Allied Market Research, titled, "Global Flavors (Food and Beverages) Market - Size, Share, Trends, Analysis, Opportunities, Growth, and Forecast, 2014 - 2020", forecasts the global flavors market to reach $15.2 billion by 2020 at a CAGR of 4.3% from 2015 to 2020. In 2014, Natural flavors segment taken over the lead to hold the majority of share in terms of value. Strong demand for organic processed food & beverages remained the major growth thrust for natural flavors market segment. The growth outlook for natural flavors remains strong while synthetic flavors may witness negative growth.
To request more information about the report, visit the website at http://www.alliedmarketresearch.com/flavors-market
Demand for organic and healthy food products, changing consumer preferences, introduction of new and enhanced flavors, and demand growth of processed food products has been instrumental in the growth of flavors market. Further, expanding purchasing powers, changes in eating habits, hectic work schedule and improper diets would supplement the market growth. On contrary, factors such as stringent food safety regulations and few adverse effects on human health would pose a major challenge for the market growth. However, natural flavors has been able in addressing such concerns and would be growing further on this account.
North America currently is the largest consumer of natural flavors; however, by 2020, Asia Pacific would catch-up and marginally lead the natural flavors market segment. In addition, the developing and advance developing nations would render the faster growth for the natural flavors market. Nevertheless, North America and Europe will continue to hold over half of the revenue share for natural flavors segment till 2020. Despite overall negative growth in synthetic flavors market, the outlook will remain slightly positive in Latin America, Middle East and Africa. Asia Pacific will remain the largest market for synthetic flavors by 2020.
Beverage flavor products segment is the largest in terms of revenue, closely followed by bakery & confectionery and savory & snacks flavors segments. In contrast, the growth for dairy and frozen product flavors would be highest during the forecast period largely due to high demand of meat flavor products in Asia Pacific and Latin America. Animal and Pet food segment would also gain momentum with emerging economies being at the fore front of the growth. The overall Animal & pet food flavors market segment will grow at a CAGR of 4.4% during 2015-2020.
- Asia Pacific would continue to generate maximum revenue with a market share of 31% by 2020.
- Africa would register the highest CAGR of 11.0% during 2015-2020 in the overall market, though at a small base
- Latin America would exhibit highest growth in beverage flavors product segment with the highest CAGR of 5.8%.
- Huabao International gained about 1.5% market share in 2014 over 2013.
Asia Pacific would consolidate its dominance with strong demand for Ice Cream, Soft Drinks, Dairy, Meat, and Animal Feed flavors during the forecast period. In 2015, Latin America would become the billion dollar market and will continue growing at the fastest rate of 5.8% during the forecast period. Africa, Middle East and Eastern Europe would also witness significant growth on account of growth in demand of packaged food and beverages. Western Europe will exhibit steady growth while North America would have diminishing growth.
Similar market research reports published by Allied Market Research -
Global Beer Market - Beer is a popular drink in social gatherings and parties. Its origin is approximately dated back to the early Neolithic period, and is one of the oldest prepared beverages worldwide. Beer is made from four basic ingredients namely, malted cereal grains, hops, water and yeast which are fermented over a period of time. Occasionally, other flavoring ingredients such as herbs and fruits are also used in beer. There are various beers available in the market, of which ale and lager are the two prominent beer types. The main difference between the lager and ale is the temperature level at which the drink is fermented. The trend of beer consumption is increasing due to rising disposable incomes, changing lifestyles and an increasing demand for craft beer. Heavy taxation and legal regulations pose a challenge for the market.
To view the report, visit the website at http://www.alliedmarketresearch.com/beer-market
Global Packaged Food Market - Packaged foods are made for easy consumption and they provide safety, convenience and easy handling. Packaging of food product provides protection from external environment and keeps its physical, chemical and biological structure intact. The demand for packed food is high due to growing food consumption in quick service restaurants. Food producers are gaining awareness of active packing to make products more safe and secure. Growing demand for food safety & longer shelf life, rising disposable income and changing life style are factors fueling the market growth. Additionally, innovative packaging technique and rising health awareness among consumers are also working positively towards the market growth. However, strict government regulations and increasing counterfeiting activities would restrain the market growth.
To view the report, visit the website at http://www.alliedmarketresearch.com/packaged-food-market
The flavors (food and beverages) industry is largely consolidated with top five players holding about 65% revenue share in 2014. Givaudan SA leads the global market followed by Kerry Group and Firmenich. Other key players such as Symrise AG, Sensient Technologies Corporation, Frutarom Industries, T. Hasegawa Co., International Flavors & Fragrance Inc. (IFF), Wild Flavors, Inc., Takasago International Corporation, and Huabao International have been able to maintain their market positions through innovation and market development strategies.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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SOURCE Allied Market Research