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Flavors are added as the ingredient into the products to change or enhance the taste of the food and drinks. Flavorings are generally added to those products that do not have the desired flavors such as sweets and candies. The main purpose of food flavoring is to discard undesirable odor of the products and also to increase consumer acceptance. Modernization and globalization has changed the lifestyle of population, which in turn have resulted in the change in food habits. Natural and convenient products are huge in demand. Natural and convenient products that could deliver nutrition and as well taste, adds more value to the growth of flavors market. New flavored products in beverages have gained popularity among the health conscious consumers. Companies are now coming up with lot of product innovation and added portfolio of health related ingredients. The factor is expected to increase the demand for natural flavoring in the product. Hence, it would ultimately help in the growth of flavors market.
The market has been segmented on the basis of type, end-user, and Country. Based on End-user, the market is segmented into Beverages, Dairy & Frozen Products, Bakery & Confectionery, Savory & Snacks, and Animal & Pet Food. Beverages are further segmented into Hot Drinks, Soft Drinks, and Alcohol Drinks. Dairy & Frozen Products include Dairy Products and Meat. Bakery & Confectionery is further categorized into Bakery, Chocolate & Ice-cream, and Confectionery. Savory & Snacks is categorized into Savory and Snacks. Animal & Pet Food includes Animal Food and Pet Food. Based on Product Type, the market is segmented into Natural and Artificial flavors. Based on Country, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The key players operating in the flavors market are Archer Daniels Medical Company, Kerry Group, Givaudan, Firmenich International SA, Symrise AG, Sensient Technologies Corporation, International Flavors & Fragrances Inc., and Huabao International.