As per the industry analysis report titled ‘Flavouring Agents Market Size By Application (Beverages, Bakery, Dairy, Savory & convenience foods, Confectionery, Meat, Oral Hygiene/pharmaceutical Snacks), By Type (Natural flavor, Artificial flavor), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, France, Poland, UK, Italy, Spain, Netherlands, Russia, China, India, Japan, South Korea, Indonesia, Thailand, Australia, Brazil, Argentina, Mexico, South Africa, UAE, Saudi Arabia, Egypt), Growth Potential, Price Trend, Competitive Market Share & Forecast, 2019 – 2025’, available with MarketStudyReport, flavouring agents market is expected to accumulate considerable returns by 2025.

Increasing expenditure on food and beverage products, combined with a strong inclination towards convenience and RTE (ready-to-eat) food are likely to propel flavouring agents market growth.

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Further, growing focus on low salt, low carbohydrate, and low-fat food consumption, coupled with improved consumer awareness, burgeoning demand for organic foods, favorable regulatory landscape, and surging popularity of flavored beverages are likely to unearth new opportunities for market expansion in the upcoming years.

However, the expensive nature of raw materials for producing natural flavoured products may impede the growth spurt in industry over the forecast period.

Based on type, the natural flavouring agents market segment is expected to record an annual growth rate of 5% during the analysis timeframe, attributable to increasing consumer inclination towards natural ingredients which is causing industry players to expand their product landscape to include plant-based ingredients and additives.

From the application perspective, the beverages segment held 30% industry share in 2018. Surging demand for flavored alcoholic and non-alcoholic beverages across the globe, and penetration of gluten free beverages will foster segmental growth during the review period.

Geographically, Asia Pacific flavouring agents industry is likely to record a CAGR of 5% during the analysis timeframe, owing to low manufacturing costs, rapid urbanization, steady economic growth, evolving lifestyles, and preference for processed food & meat in the region.

Key players influencing the industry trends are Flavorcan International Inc., Kerry Group, Keva Flavors Pvt. Ltd., Huabao International Holdings Ltd., T. Hasegawa Co. Ltd., Robertet Group, Sensient Flavors Ltd., Takasago International Corporation, Mane S.A., Symrise AG, Firmenich S.A., International Flavors & Fragrances Inc., and Givaudan.

These companies are constantly directing efforts towards improving their product and service offerings through new launches, mergers, acquisitions, and partnership deals to maintain a strong foothold over industry dynamics.