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BIO-TECH FLAVOR MARKET ANALYSIS

Bio-Tech Flavor Market<br>

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BIO-TECH FLAVOR MARKET ANALYSIS

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  1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker

  2. BIO-TECH FLAVOR MARKET ANALYSIS Bio-Tech Flavor Market, By Flavor Type (Vanilla & Vanillin, Fruity Flavor, Microbial Produced Flavor, Essential Oils), By Form (Liquid, Powder, Spray Dry, Paste), By Application (Food (Dairy Product, Bakery Products, Confectionery Products, Savory), Beverages(Alcoholic, Non-Alcoholic), Nutraceuticals), By Source (Fruit & Fruit Juice (Berries, Citrus, Drupes, Pepos, Pomes, Others),Vegetable & Vegetable juice Plant & Botanical(Spices, Herbs, Others), Meat & Seafood (Meat & Poultry, Seafood), Dairy (Dairy products, Edible East)), and By Region (North America, Latin America, Europe, Asia-pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027

  3. Bio-Tech Flavor Market 2017–2027Bio-tech flavors are basically produced from advanced food science technology such as biotechnology. This method is the best alternative process of synthetically prepared flavors by using chemicals. Bio-tech flavors have numerous health benefits such as enhanced anti-oxidants level and reduced risk of the metabolic disorder as these flavors do not contain any artificial preservatives. Apart from food and beverage bio-tech flavor also finds application in the nutraceutical products. However, bio-tech process flavors are claimed to have a very low shelf-life.The global bio-tech flavor market is anticipated to reach US$ 2.8 billion by the end 2027, growing at a CAGR of 11% during • Drivers • Uncertain whether conditions coupled with the political barriers associated with the natural food product is expected to foster the market growth of the bio-tech flavors. Unfavorable weather conditions may lead to irregular supply of raw materials due to seasonal or crop violation and political instability are some of the major factors that are propelling the demand for flavor production by using bio-tech process as this technology can overcome such challenges and also reduce the cost of the flavor, thereby fueling the market growth. • The rising number of players entering into biotechnology process flavor market is expected to serve as one of the major driving factors to the market of bio-tech flavors. For instance, in September 2019, BASF strengthens biotechnology footprint by acquiring Isobionics, an innovation leader in biotechnology which is serving the global market for natural flavors and fragrances (F&F), and through a cooperation agreement with Conagen to enters the market for natural F&F ingredient • In 2018, North America region accounted for a market share of 35.2%, which is largest in terms of revenue, followed by Europe and Asia-Pacific, respectively. The rising trend for clean label in products among consumers is driving manufacturers to use organic and minimum ingredients in food & beverage products as a result of which the bio- tech flavor market is expected to grow substantially in upcoming years.

  4. Figure 1. Global Bio-Tech Flavor Market – Revenue Share (%), By Region, 2018

  5. Market Restraints • Low shelf-life of the bio-tech based flavor is expected to hinder the market growth of the bio-tech flavor. Bio-tech flavors have a lower shelf life because it doesn't contain any artificial preservatives that increase the shelf life and average shelf life of bio-tech product is around six months to one year. Hence, lower shelf-life of the bio-tech based flavors is expected to restrict the adoption of across consumer, thereby restraining the market growth. • The high cost of the raw materials used in bio-tech based flavor is projected to inhibit the market growth. Moreover, bio-tech flavors are comparatively expensive than artificial flavors due to high cost related to processing, production, and preservation of natural and bio-tech flavors are expected to restrict the demand for bio-tech based flavor. This factor is expected to hinder the market growth of bio-tech flavor over the forecast period.

  6. Market Opportunities • Increasing demand for spicy flavors is expected to offer potential growth opportunities over the forecast period. For instance, in May 2019, Doritos launched new spicy wings flavor. The new flavorful Spicy Wings Flavor is Doritos’ newest invention that will see the band launched into the meaty flavor segment, thereby pushing the envelope of corn snacks. Hence, increasing the launch of spicy such hot chili flavor is expected to propel the market growth of the bio-tech flavor over the forecast period. • Increasing penetration of bio-tech flavor in alcoholic beverages is expected to fuel the market growth in the near future. For instance, in September 2016, United Spirits, India's largest spirits firm, has introduced the country's first homegrown flavored whiskey to target beer drinkers who find the regular drink too strong or overwhelming. The new brand — Silk, a honey-flavored drink under the McDowell's portfolio — is the first product launch after. Therefore, rising demand for flavored alcoholic beverage is expected to foster market growth.

  7. Figure 2. Global Bio-Tech Flavor Market – Market Opportunity Analysis Among flavor type segment, vanilla & vanillin flavor dominated the global bio-tech flavor market in 2018, and accounted for 34.2% share in the market, followed by fruity flavor and essential oils, respectively.

  8. Key Takeaways • Increasing demand for protein-based flavor among athletes is gaining traction in the market, for this major player is introducing protein-based flavor, which in turn propelling the market growth over the forecast period. For instance, in March 2019, CytoSport Inc., the makers of EVOLVE plant-based protein products announce the launch of their new Protein & Greens product line. CytoSport's EVOLVE brand is part of the leading sports nutrition company's portfolio that also encompasses Muscle Milk premium protein products. • Shifting consumer preference towards a new blend or combination of flavors such as heat and tangy flavors due to growing popularity for different and unique flavors especially Europe and East Asia is expected to fuel the market growth in the near future. At present, beef jerky and snack products such as chips heat are being available in heat and tangy flavor is a major trend in U.S and Europe region. In January 2016, Green Dot Health Foods Ltd. launched hot African Piri chili with tangy lemon flavored nachos crisps. Hence, shifting preferences of consumers towards a unique and new combination of flavor is expected to propel the market growth.

  9. Figure 3. Global Bio-Tech Flavor Market – Revenue Share (%), By Application, 2018

  10. Competitive Section: • Players active in the market are Givaudan S.A, International Flavors & Fragrances Inc., Firmenich SA, Symrise AG, Takasago International Corporation, Sensient Technologies Corporation, Kerry Group, and Frutarom Industries Ltd. • Few Recent Developments • International Flavors & Fragrances Inc. • In February 2015, the company announced plans to establish a new flavors facility in the U.S., in order to increase the supply of natural & bio-tech flavor to the food and beverage industry in the greater Chicago area • In March 2015, the company expanded its flavor facility in Isando, South Africa to meet the increasing demand for bio-tech flavors in the country • Firmenich SA • In January 2016, Firmenich SA and Veolia Environment SA collaborated with Mars, Incorporated and Danone SA to invest over US$ 135 million for helping farmers in Africa, Asia, and Latin America. This investment is expected to enhance the production of natural fruits and vegetables, which in turn will smoothen the supply of raw materials for bio-tech flavors.

  11. Request Sample Report • Request Customization • Download PDF Brochure • Talk to Analyst • Buy Now • Reference: https://www.coherentmarketinsights.com/market-insight/bio-tech-flavor-market-3309

  12. About Us Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. What we provide: • Customized Market Research Services • Industry Analysis Services • Business Consulting Services • Market Intelligence Services • Long term Engagement Model • Country Specific Analysis

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