Increasing urbanization, the rising working population as well as changing lifestyle has boosted the food processing segment over the last decade. There is an increasing demand for processed food due to its ease of access and less cooking time in this paced world. Thus the market for processed food is growing at a rapid rate. Value addition is one of the promising sectors of the food processing industry. Value addition is increasing the flavor or the nutrients provided by food. Flavor enhancement thus has an important place in the food industry. Flavor carrier are ingredients that carry the flavoring agents or are mixed with flavors that are imparted to various food and beverage products. Flavor carriers offer various benefits like protection of flavors, manufacturing safety, controlled release of flavors, as well as convenience. Flavor carriers are thus, used widely in the manufacturing and processing of several food products and beverages. Thus with the increasing applications and demand from the food and beverage sector, the demand for flavor carriers is expected to rise during the forecast period.
Increasing Demand for Flavor Carrier from the Food and Beverage Sector
There is an increased use for various flavoring agents, thus ultimately rising the demand for flavor carrier. The increasing trend, as well as the demand for innovative recipes, increased preference, and consumption of food and beverages are some of the drivers of the flavor carrier market. Factors like changing lifestyle, increase in urban population, rise in disposable income, changing eating habits of people are some of the other drivers of flavor carrier markets. Flavoring and seasoning agents are increasingly used by the hotel and restaurants in developed and developing countries to impart the food recipes with the desired flavor to attract the tourist as well as foodies, thus boosting the demand for flavor carriers. Flavor carriers are used to protect the flavoring agents used in various instant and ready to cook food products. With busy and hectic work life of people, especially in the urban region has increased the demand for instant and convince food and thus having a positive impact on the flavor carrier market. The increasing popularity of flavored beverages and juice directly increases the demand for flavor carriers. The increasing demand for flavored baby food, as well as nutritional mixes and supplements, ultimately has a positive impact on the flavor carrier market. With the increasing demand and rising number of application, the global flavor carrier market is expected to grow positively in the terms of value and volume during the forecast period.
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Global Flavor Carrier: Market Segmentation
On the basis of form, the global Flavor Carrier market has been segmented as-
On the basis of Type, the global Flavor Carrier market has been segmented as-
On the basis of nature, the global Flavor Carrier market has been segmented as-
On the basis of End Use, the global Flavor Carrier market has been segmented as-
Global Flavor Carrier Market: Key Players
The global flavor carrier market is growing at a good pace. Some of the key players in global flavor carrier market include Cargill, DuPont Tate & Lyle Bio Products, Givaudan, International Flavors and Fragrances, Symrise, Sensient Technologies, Döhler, Firmenich, Senomyx, and others. Many other companies are taking interest to invest in the flavor carrier market.
Opportunities for Market Players
The demand for flavor carrier is rising across the world and thus creating a number of opportunities for the market participants. The manufacturers of flavor carriers are inclined towards the profitability and hence are investing in R&D department in order to develop efficient as well as cost-effective products. The companies are also focused on technological advancements in order to increase production as well as provide better quality to the consumers. There is a rising number of health concern people and thus increase in demand for low-calorie products, especially for nutraceuticals and functional, thus flavor carrier manufacturers are launching innovative products as per consumer needs.
Global Flavor Carrier Market: Regional Outlook
The global flavor carrier market is regionally segmented as Asia-Pacific, North America, Europe, Latin America, and MEA. APAC is expected to dominate the global flavor carrier market due to high population concentration in this region, there is an increasing demand for flavors used in the food, pharma, and nutraceutical segments especially from China and India. North America and Europe are expected to exhibit steady growth in the flavor carrier market.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.
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