DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/lmkq4x/global_food) has announced the addition of the "Global Food Flavor And Enhancer Market - Growth, Trends, Forecast For The Period (2015-2020)" report to their offering.
The global market size in 2014 was estimated $8.43 billion dollar in 2014 and is estimated to increase at a compound annual growth rate (CAGR) of 3.5% and reach nearly $10 billion by 2020.
Globalization and modernization has changed the lifestyle of people which in turn changed food habits, thus increasing demand of flavors and enhancers.
The major manufacturing hubs in the globe are North America and Europe which constitute the majority share in the food flavors and enhancer market. The other three regions are Asia Pacific, South America and Africa. In the European market, beverage consumes around 31%, Snack and confectionery 14%, Bakery 13%, Meat and savory 12%, bakery 13% and culinary 5% and rest are others. The European market is a mature market and has several regulatory bodies to regulate stringently the use of food flavors and enhancers, thereby taking care of the consumers of the nations. Germany constitutes the major share having 24%, followed by the UK (23%), Spain (10%), Netherlands (5%) and Italy (9%). $823 million US is the market size by value of the synthetic flavors and $755.65 million US is the market size by value of natural flavors in the year 2014.
Strong growth in low-fat and low-carbohydrate foods and beverages will increase demand in the North American flavor and fragrance market. However, Asia will gradually overtake the North American market due to increased growth estimated for this region. Growth in Europe, on the other hand, will continue to be moderate because of market maturity as well as consolidation in the industries that use food flavor and enhancers.
Key Topics Covered
2. Key Findings
3. Market Overview & Dynamics
5. Market Segmentation by Type
6. Competitive Landscape Overview
7. Company Profiles
- Archer Daniels Midland (ADM)
- Corbion Purac
- D.D. Williamson & Co
- International Fragrance and Flavours (IFF)
- Kerry Group
For more information visit http://www.researchandmarkets.com/research/lmkq4x/global_food