Accordingto a new study by TMR, the sales of biotech flavors are estimated to reach134,422 metric tons in 2019. The biotech flavors market is projected to record aY-o-Y growth of ~9% during the forecast period. Growth of the biotech flavorsmarket remains driven by a slew of aspects, which range from increased marketdemand for clean label products and changing regulations in the food andbeverage industry, to growing awareness among consumers.
In this report, the biotech flavors market is classified on the basis offlavor, form, application, and region. The biotech flavors market in NorthAmerica is expected to contribute ~US$ 1 Bn to the global biotech flavorsmarket by the end of 2029. The beverages segment among the applications in thebiotech flavors market is expected to remain dominant during the forecastperiod in terms of value and volume, due to high usage in the biotech flavorsmarket. Among the form segments of biotech flavors, the liquid segment isexpected to account for relatively high value and volume share of the biotech flavorsmarket during the forecast period.
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Uncertain Weather Condition & PoliticalInstability Affecting Raw Material Supply
Erratic supply of raw materials due to unfavorable weather conditions,seasonal or crop violations, natural calamities, and political instability is abig problem for natural flavor manufacturers in growing regions. Consistentsupply of raw material and quality of flavoring agents dramatically influencethe final product quality and consumer acceptance. Enhanced flavor productionthrough the traditional plant breeding process is currently not a mechanismpreferred by flavoring agent suppliers, as it does not produce quality flavor.
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The flavor production system based on plant tissue culture (PTC),microbial fermentation, or bioconversion, overcomes many of these limitation.These bio-tech processes provide the industry with consistent quality andunlimited production capacity at reduced cost. Furthermore, with theintroduction of the biotech process, food and beverage manufacturing companiescan now produce new compounds or convert low-value substances into high valuecompounds by bio-transformation. Since flavors are generally expensive ascompared to other ingredients of processed foods, the flavor industry isadopting the bio-technology-based system.
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Global Biotech Flavors Market: CompetitiveLandscape
Key players in the global biotech flavors market have been profiled inthe biotech flavors market report. Some of the main players in the biotechflavors market include Givaudan, Sensient Technologies Corporation,Bell Flavors and Fragrances, Symrise AG, International Flavors &Fragrances, Inc., Takasago International Corporation, Frutarom Industries Ltd.,Naturex group, Firmenich S.A., and Kerry Group Plc, and many more.
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