This report titled “Biotech-flavors Market - Growth, Future Prospects, and Competitive Analysis, 2021 – 2029” offers strategic insights into the trends in biotech-flavors market along with the market size and forecast for the duration 2019 to 2029. The said research study incorporates in-depth analysis of multiple market segments based on flavor type, application and geographical distribution.
The global biotech-flavors market is becoming increasingly competitive with growing new products by market players to reach full capabilities and gain international footprint. In addition, several players are also focused on developing their niche products in the market. Rapid growth of this market has also resulted in creating further skilled job opportunities in major hubs spread across North America, Asia Pacific and Europe.
Based on flavor type, the global biotech-flavors market is categorized into the vanilla, fruity flavor, microbial produced flavor, essential oils, others. On the basis of application, the global biotech-flavors market is segmented into food, beverage and nutraceuticals. In addition, food companies form the major client for these flavors. Market size and forecast for all the considered segmentation is presented in this report for the period 2019-2029 (US$ Mn) along with their respective CAGRs for the forecast period 2021-2029 (Value %).
Along with the quantitative information sets, this report also provides qualitative information such as market dynamics and executive summary for the global biotech-flavors market. Tools such as competition assessment and attractive investment proposition are also included in the report to provide the readers with competitive mapping assistance. This study concludes with the company profiles section. This section includes major information about the key companies engaged in development, and provision of biotech-flavors.
On the basis of flavor type, the biotech-flavors market is categorized into following types:
Biotech-flavors market is segmented on the basis of flavor type such as fruity flavor, vanilla, microbial produced flavor, essential oils, and others. In 2020, vanilla segment contributed the highest revenue share of the total biotech-flavors market. The segment is anticipated to expand at a robust CAGR till 2029. Higher demand for vanilla and its related flavor in production of protein powder, snacks and protein related drinks is expected to spur the growth of biotech-flavors market over the forecast period. Change in lifestyle along with busy working schedule is expected to create more expand the market of biotech-flavors all across the globe over the forecast period.
On the basis of application, the biotech-flavors market is categorized into following types:
The bio-tech-flavors market is also segmented on the basis of application such as beverage, food and nutraceuticals. Amongst this, food segment contributed the highest share in the total revenue of biotech-flavors market in 2020. The segment is expected to expand at a stupendous compound annual growth rate over the forecast period. Rising demand for biotech-flavors in order to add in production of dairy products, chocolate and confectionery, biscuits and ice creams is anticipated to bolster the growth of the segment over the forecast period. Apart from this, increasing demand for processed food is expected to expand the food segment over the forecast period.
It has been noticed that consumers are inclining and becoming more apprehensive towards their health. This has emphasized the manufacturers to look beyond the development of such products which will enhance the strength and vitality of consumers. Thus, increasing inclination towards such products and changing mindset of consumer towards processed foods is anticipated to bolster the growth of biotech-flavors market over the period 2021-2029. The global biotech-flavors market is segment on the basis of geography. Asia Pacific region contributed the highest revenue share in total biotech-flavors market with a contribution of more than 30% in 2020. Followed by it, Europe stood at second position in that year. Higher health awareness and consciousness higher preferences for low-fat, low-salt and low-carbohydrate diet along with high population spending in these developed regions is anticipated to contribute for double digit growth rate in Asia and Latin American countries during the projected period. Asia Pacific is anticipated to have a higher growth rate due to rising health awareness and changing lifestyle of people all over the world.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Biotech-Flavors market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Flavor
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Application
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
