According to a new study by TMR, sales of biotech flavors are estimated at 134,422 tonnes in 2019. The biotech flavor market is expected to register an annual growth of around 9% during the forecast period. The growth of the biotech flavors market continues to be driven by a multitude of aspects, which range from growing 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 Flavors Market is categorized based on flavor, form, application and region. The biotech flavors market in North America is expected to contribute approximately US$1 billion to the global biotech flavors market by the end of 2029. The beverage segment among the applications of the biotech flavors market is expected to remain dominant during the forecast period in terms of value and volume, owing to their high usage in the biotech flavors market. Among the form segments of biotech flavors, the liquid segment is expected to account for a relatively high value and volume share of the biotech flavors market during the forecast period.
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Uncertain weather conditions and political instability affecting the supply of raw materials
Erratic supply of raw materials due to adverse weather conditions, seasonal or harvest violations, natural calamities and political instability is a big problem for natural flavor manufacturers in growing regions. A constant supply of raw materials and the quality of flavoring agents greatly influence the quality of the final product and consumer acceptance. Producing enhanced flavors through the traditional plant breeding process is not currently a preferred mechanism by flavoring agent suppliers, as it does not produce quality flavor.
The flavor production system based on plant tissue culture (PTC), microbial fermentation or bioconversion overcomes many of these limitations. These biotechnological processes offer the industry constant quality and unlimited production capacity at a reduced cost. Moreover, with the introduction of the biotechnology process, food and beverage manufacturing companies can now produce new compounds or convert low-value substances into high-value compounds through biotransformation. Since flavors are generally expensive compared to other ingredients in processed foods, the flavor industry is adopting the biotechnology-based system.
Global Biotech Flavors Market: Competitive Landscape
The key players of the global biotech flavors market have been profiled in the biotech flavors market report. Some of the major biotech flavor market players include Givaudan, Sensient Technologies Corporation, Bell Flavors and Fragrances, Symrise AG, International Flavors & Fragrances, Inc., Takasago International Corporation, Frutarom Industries Ltd., Naturex Group, Firmenich SA and Kerry Group Plc, and many more.
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Global Biotech Flavors Market: Segmentation
The Global The biotech flavor market has been segmented into shape, flavor, application, and region.
Biotech Flavors Market by Form
Biotech Flavors Market by Flavor
- Vanilla & Vanillin
- Fruity flavors
- Essential oils
- Microbial products
Biotech Flavors Market by Application
- Dairy products
- Confectionery Products
- Non-dairy ice cream
- Baked goods
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