According to a new study by TMR, the sales ofbiotech flavors are estimated to reach 134,422 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 isclassified on the basis of flavor, form, application, and region. The biotechflavors market in North America is expected to contribute ~US$ 1 Bn to theglobal biotech flavors market by the end of 2029. The beverages segment amongthe applications in the biotech flavors market is expected to remain dominantduring the forecast period in terms of value and volume, due to high usage inthe biotech flavors market. Among the form segments of biotech flavors, theliquid segment is expected to account for relatively high value and volumeshare of the biotech flavors market during the forecast period.
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Uncertain Weather Condition &Political Instability Affecting Raw Material Supply
Erratic supply of raw materials due to unfavorableweather conditions, seasonal or crop violations, natural calamities, andpolitical instability is a big problem for natural flavor manufacturers ingrowing regions. Consistent supply of raw material and quality of flavoringagents dramatically influence the final product quality and consumeracceptance. Enhanced flavor production through the traditional plant breedingprocess is currently not a mechanism preferred by flavoring agent suppliers, asit does not produce quality flavor.
The flavor production system based on plant tissueculture (PTC), microbial fermentation, or bioconversion, overcomes many ofthese limitation. These bio-tech processes provide the industry with consistentquality and unlimited production capacity at reduced cost. Furthermore, withthe introduction of the biotech process, food and beverage manufacturingcompanies can now produce new compounds or convert low-value substances intohigh value compounds by bio-transformation. Since flavors are generallyexpensive as compared to other ingredients of processed foods, the flavorindustry is adopting the bio-technology-based system.
Global Biotech Flavors Market:Competitive Landscape
Key players in the global biotech flavors markethave been profiled in the biotech flavors market report. Some of the mainplayers in the biotech flavors market include Givaudan, SensientTechnologies Corporation, Bell Flavors and Fragrances, Symrise AG,International Flavors & Fragrances, Inc., Takasago InternationalCorporation, Frutarom Industries Ltd., Naturex group, Firmenich S.A., and KerryGroup Plc, and many more.
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Foodand Beverages Sector
The world hasundergone a major shift in the way of living since the COVID-19 pandemicstruck. A notable change in the functioning of various businesses and sectorshas influenced their working mechanisms extensively. The food and beveragesector is no stranger to this change. Transparency Market Research (TMR) hasstudied many aspects concerning the difference between the trends in thepre-pandemic and post-pandemic world across the food and beverage industry.
