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Health-conscious population has augmented global biotech flavours mkt growth
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Friday, 04 October, 2019, 08 : 00 AM [IST]
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The sales of biotech flavours are estimated to reach 1,34,422 metric tonne in 2019. These were the findings of Transparency Market Research’s recent report on the biotech flavours market, which projected that the segment will record a year-on-year (Y-o-Y) growth of about nine per cent during the forecast period.
Growth of the biotech flavours market remains driven by a slew of aspects, which range from increased market demand for clean label products and changing regulations in the food and beverage industry, to growing awareness among consumers.
In this report, the biotech flavours market is classified on the basis of flavor, form, application, and region. The biotech flavors market in North America is expected to contribute approximately $1 billion to the global biotech flavours market by the end of 2029.
The beverages segment among the applications in the biotech flavours market is expected to remain dominant during the forecast period in terms of value and volume, due to high usage in the biotech flavours market.
Among the form segments of biotech flavours, the liquid segment is expected to account for relatively high value and volume share of the biotech flavours market during the forecast period.
Uncertain weather conditions, political instability affecting raw material supply
Erratic supply of raw materials due to unfavourable weather conditions, seasonal or crop violations, natural calamities, and political instability are big problems for natural flavour manufacturers in growing regions.
Consistent supply of raw material and quality of flavouring agents dramatically influence the final product quality and consumer acceptance. Enhanced flavour production through the traditional plant breeding process is currently not a mechanism preferred by flavouring agent suppliers, as it does not produce a quality flavour.
The flavour production system based on plant tissue culture (PTC), microbial fermentation, or bioconversion, overcomes many of these limitations. These bio-tech processes provide the industry with consistent quality and unlimited production capacity at reduced cost.
Furthermore, with the introduction of the biotech process, food and beverage manufacturing companies can now produce new compounds or convert low-value substances into high-value compounds by bio-transformation.
Since flavours are generally expensive as compared to other ingredients of processed foods, the flavour industry is adopting the bio-technology-based system.
Global biotech flavours market: Competitive landscape
Key players in the global biotech flavours market have been profiled in the biotech flavors market report. Some of the main players in the biotech flavours market include Givaudan, Sensient Technologies Corporation, Bell Flavors and Fragrances, Symrise AG, International Flavors and Fragrances, Inc, Takasago International Corporation, Frutarom Industries Ltd, Naturex Group, Firmenich S A, and Kerry Group Plc, and many more.
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