Flavoring agents are added to the food in order to enhance the taste and texture. There are three kinds of flavoring agents- natural flavoring substances, artificial flavoring agents and nature identical flavoring agents. Natural flavoring agents are usually derived from herbs, spices, animals and microbial fermentation. They can be used for human consumption either in their natural form or in refined form, and they do not contain any flavoring agents similar to nature or synthetic. Nature-identical flavoring agents are the flavoring compounds produced by synthesis or extracted by chemical processes. They are widely used in industries such as dairy & frozen products, bakery & confectionary, beverages, among others.
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Some of the factors responsible for the growth of Flavoring Agents Market are:
- Increasing demand for the natural and authentic flavor: Natural flavor are those which are usually derived from the animal and plant sources. It is possible to obtain these flavors by heating or roasting the content of animals or plants. They are very beneficial as they add flavor to the food. Castoreum, citral, amyl acetate, benzaldehyde, among others are some of the common natural flavor found in food and beverages. Food companies use natural flavors for a variety of things such as preservatives, flavor enhancers, or oddly to compensate for the missing taste
- Increasing consumption of functional beverages: A functional beverage is a product that is specially designed to provide health benefit, generally as product which improves the performance. Nootropics, minerals, vitamins, herbs, and other are some of the common ingredients which are included in the functional beverage. Functional drinks usually include drinks such as soy beverages, sports and performance drinks, energy drinks, and ready to drink teas. These are very beneficial for the people who are health consciousness providing them with several health benefits
The global flavoring agents market is segmented into type as natural flavors & artificial flavors; and end- user as beverages, dairy & frozen products, bakery & confectionary, savory & snacks, and animal & pet food.
Some of the launches and acquisition in the Flavoring Agents Market are:
- In February 2019, Coke announced the launch of their new coke flavor: orange vanilla. This will help the company to get more variety in soda. After successful launch of Coca-Cola Zero Sugar, the beverage maker decided to add and redesign its flavor options — Cherry Coke, Vanilla Coke, Cherry Coke Zero, and Vanilla Coke Zero. This will help the company to enhance their sales and increase their revenue generation
- In April 2019, WATERLOO SPARKLING WATER CORP announced the launch of their new strawberry and grape flavor. This will help the company to meet the demand of flavored sparkling water in the American market. With its packaging, Waterloo seeks to differentiate itself from other sparkling water brands. By using traditional fonts and colors through fruit images and descriptions, the cans break away from modern designs
“According to Data Bridge Market Research, Global Flavoring Agents Market is set to witness a substantial growth in the forecast period of 2019-2026”
Few of the major competitors currently working in the flavoring agents market are Cargill, Incorporated., Archer Daniels Midland Company, Givaudan, Sensient Technologies Corporation, Kerry Inc., International Flavors & Fragrances, Inc., Tate &Lyle, Firmenich SA, MANE, Takasago International Corporation, Flavorchem Corporation, Frutarom Health, Symrise among others.
Rising popularity of processed food and increasing health awareness among population has increased the consumption of flavors which are made with fruit, seafood, wines, and other which is expected to enhance the market growth. The prevailing demand from young and geriatric population for functional beverages; this is another factor which directly impacts the market growth. All these factors enhance the growth of the market creating avenues and surging the demand in future.
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