Biotech Flavor Market Size, Share, Global Sector / Industry Report & Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Biotech Flavor Market


The global Biotech Flavor market size is projected to reach US$ 61.85 billion by 2026, from US$ 41.22 billion in 2020, at a CAGR of 7% during 2021-2026. Increasing production of flavor compounds with the help of biotech methods as a substitute for organic synthesis is supporting the manufacturing of healthier food products. Growing consumer preference for natural and chemical free food is expected to drive the manufacturers to infuse biotech flavors, thereby spurring the growth of the global market.

Advancement in food flavors driven by the demand for natural formulations is anticipated to drive the global market. In addition, consumer awareness about ill effects of synthetic ingredients is likely to boost the market growth in the next few years. Growing penetration of natural flavoring due to advancement in various types of beverages has been driving the demand for the global market. Beverages infused with biotech flavors help boost energy level, metabolism, and other bodily functions. Flavors such as lemon and cucumber help in stimulating liver functions and strengthening veins.

Growing trend of convergence between biotech and nutraceuticals driven by increasing application of ingredients claims to have various health benefits. For instance, Robertet introduced Xtreme Flavors with high impact, true fruit, authentic, and natural flavoring that can be infused in various beverage preparations. Some of the flavors are plum and plum sugar, pear, watermelon, and apple.

Countries such as U.K., India, and China witnessed an increase in demand for biotech flavor due to increasing shift in preferences for natural intakes than chemical ones. However, low shelf life and issues pertaining to their stability are some of the factors challenging this industry. Ennolys, a Europe based company, launched a natural vanilla flavoring, obtained by biotransformation of ferulic acid found from certain cereals.

Market Segmentation, Outlook & Viewpoint: Global Biotech Flavor Market

Type Market Segmentation & Outlook (Revenue, USD Billion, 2014 - 2025)

  
Vanilla
  
Fruity
  
Others

Application Market Segmentation & Outlook (Revenue, USD Billion, 2014 - 2025)

  
Dairy
  
Bakery & Confectionery
  
Beverage
  
Nutraceuticals
  
Others

Form Market Segmentation & Outlook (Revenue, USD Billion, 2014 - 2025)

  
Liquid
  
Powder
  
Paste

Key Players, Recent Developments & Regional Insights: Global Biotech Flavor Market

Beverages was the leading application segment in 2018, accounting for 35.4% share of the overall revenue. People prefer energy drinks, vegetable and fruits juices, and sodas infused with natural flavoring due to their nutritional benefits. Rising consumption of flavored beverages around the world is boosting the segment growth. For instance, Olvi Group launched some innovative healthy flavors such as vitamineral waters and aura active shake, which has berry mix and cherry variants.

The nutraceuticals application segment is expected to expand at a CAGR of 7.8% over the forecast period. Rise in demand for medicines due to increasing number of diseases is expected to remain a key factor driving the segment growth over the forecast period. Consumer health divisions are increasingly focusing on supplements from major companies such as Bayer, Mead Johnson, Merck, and Pfizer and medical food from companies like Abbott.

Form Insights

The powder form segment held the largest share in 2018 and generated a revenue of USD 17.1 billion. This segment consists of energy drink powder, yogurt powder, and butter powder with features that are applicable in maintaining health. Powder is used for dry mix production as it provides easy scaling, low water content, and general disbursement by dry blending.

Liquid form is expected to expand at a CAGR of 7.4% over the forecast period. The major application of liquid form lies in the production of beverages such as fruits and vegetable juices and energy drinks. In non-dry mixes, oil and water based liquid flavors provide easy disbursement and volume measuring. For instance, GLCC Co. came up with flavors such as blueberry, passionfruit, guava, RSP cherry, McIntosh apple, and guanabana.

Regional Insights

In 2018, North America accounted for the largest share of 39.5% in terms of revenue. Demand for the product is increasing in U.S. due to rising penetration of these products, rapid adoption, growing awareness and popularity of the product benefits, and presence of major biotech flavor providers such as IFF and Sensient Technologies Ltd. This, in turn, will boost the market growth in North America.

Asia Pacific is anticipated to emerge as the fastest growing regional market with a CAGR of 7.4% owing to growing health and wellness trend. Consumers are ready to spend money on biotech flavored ingredients than synthetic chemical ingredients as these products are compatible with body without causing any harm.
Increasing health consciousness and awareness about the negative health impacts of artificial food flavors, along with the benefits of natural flavors in countries like India and China, have led to an increase in demand for biotech flavors. Companies such as Sapiro Biotech Pvt. Ltd. provide all types of natural flavors for dairy, bakery and confectionery, and other industries.

Biotech Flavor Market Share Insights

Various major companies are indulged in mergers and acquisitions with other companies for the technology development and further expansion. Moreover, it helps them to enhance their capabilities and product offerings. For instance, Powderpure, acquired by IFF to gain the expertise in drying technology, uses minimal processes that has been used to repurpose the valuable materials from other food processing systems by keeping other features of the product intact.

Some of the key players operating in the global market are Givaudan; Firmenich SA; IFF Inc.; Symrise AG; Wild Flavors; Takasago International Corporation; Mane Flavors; Frutarom; Sensient Technology Ltd.; and Roberetet.

Key Insights Covered: Global Biotech Flavor Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Biotech Flavor industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Biotech Flavor industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Biotech Flavor industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Biotech Flavor industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Biotech Flavor industry.

Research Methodology: Global Biotech Flavor Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other