Flavors are used in a variety of ways in the food as additives to improve the test of different edible products such as bakery, different beverages, dairy products, and sauces. Flavors are used in all of the edible things prepared on the industrial and domestic levels. Natural flavors are made from different organic products such as plants and animals.
It is not hard to make natural flavors and they can be easily prepared however the market is dominated by some big flavor makers. The top four flavor makers that monopolize the market includes Symrise, IFF, Givaudan, and Firmenich. As of 2016, these four big enterprises are occupying the market and their market share is 56.2%. The remaining market has been left for other companies. Other comparatively large companies include WILD Flavors, Frutarom, Sensient, Takasago, Robertet SA, T. Hasegawa, Mane, Boton, and Kerry.
The use of natural flavors varies and they are used in a variety of edible products such as different beverages, dairy products, sweets, sauces, and many other products. The most important factor that is expanding the natural flavor industry is its demand in the market. The use of these flavors have expanded in the past few years and it will keep on expanding even in the future. The growth of this industry shows that the future of this industry will be stable and have chances to grow even more.
Taking a look at the past few years we can see that the price of natural flavors has decreased and the increasing demand for natural flavors show that the price of it will now increase. The price of natural flavor will depend on the cost of production which involves the cost of electricity, transportation, equipment used in manufacturing and the wages of employees. There is a risk of profit decline but that will only be slight.
The Global market for natural flavors is expected to roughly grow at a rate of 3.9% over the course of the next five years. In the year 2024 market will reach to 15800 million US$ and it is expected to grow at 12600 million US$ in the year 2019 according to the Study of Global Info Research (GRS). This report is focused on the natural flavors in the global market and the targeted areas include Europe, North America, Middle East, Africa, South America, and the Asia Pacific. The report categorizes the market based on the area, use of flavor, type of flavor and manufacturers of the flavors.
The report covers following manufactures of Natural flavor:
The report covers most of the regions including Asia-pacific (Korea, India, China, South East Asia, and Japan), North America, South America, Middle East and (UAE, Saudi Arabia, Egypt, South Africa, Nigeria), Europe (Italy, Russia, France, UK, and Germany). The market is divided into two types of products Plant Flavors and Animal Flavors. The market is also divided according to the use of Flavor which includes: Dairy, Beverages, Confectionery, Savoury, and Others. The fifteen chapters of this report will cover all of these factors.