Global Food Flavors Market has been estimated at USD 21.3 Million in 2016 and is projected to reach USD 30.5 Billion by 2022, at a CAGR of 6.36% during the forecast period from 2016 to 2022.
Hyderabad, India -- (SBWIRE) -- 03/01/2018 -- The Global Food Flavors Market was priced USD 21.3 Billion in 2016 and calculated to be growing at a CAGR of 6.36%, to achieve USD 30.5 Billion by 2022, within the mentioned forecast period. The Global Food Flavors Market is principally driven by factors such as increasing awareness about health among individuals and rising demand for the organic food products.
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Other prominent factors attributing to the growth of the market are continuous innovation to develop new flavors for food and beverages industry. Increase in purchasing the flavoured food products among individuals is fuelling the market growth. However, awareness among customers regarding problems associated with intake of synthetic food additives is hindering the market growth.
The Beverage section from origin segment accounted the largest share of the market in terms of revenue, and it is closely followed by bakery & confectionery and savory & snacks flavors segments.
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North America accounted the biggest share of Food flavors market across the world and it is followed by Europe. In Food Flavors Market, the North American witnessing an immense growth owing to rise in packaged food consumption in developed economies. Because of increasing demand for healthy food products, ready-to-eat meals, and technological innovation, the Asia-Pacific region is predicted to grow at the best CAGR.
Some of the major firms dominating the Global Food Flavors Market are Givaudan, DohlerGroup, SunOpta, Inc, Kerry Group, Frutarom Industries, SVZ International B.V, Firmenich, Archer Daniels Midland Company, AGRANA Group, Sensient Technologies Corporation, and Symrise AG.
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