There are several reasons for the consumption of food, the apparent and most eminent one being to procure nutrition for a healthy and hygienic life. However, in an ever-developing society where food supply, safety and nutrition are more than adequately provided by most major food and beverage manufacturers across the world, other issues relating to the consumers’ food preferences have grown in importance. The flavor is considered to be one such aspect that has witnessed remarkable growth in the food industry over the past few years. Sophisticated methods such as solid-liquid extraction and supercritical fluid extraction are used for developing natural flavors, nature-identical flavors, and artificial flavors. These are used in food and beverages as additives to add taste and value. They play a significant role in the consumption and acceptance of food. Thus, flavor systems are considered to be the essential constituent of food and are at the threshold of gigantic growth due to the incessantly increasing demand from food processing industry.The perpetually growing consumption of ready-to-eat and processed food products is positively influencing the growth of the [FURL=https://www.industryarc.com/Research/Flavor-Systems-Market-Research-504873]flavor systems market[/FURL] . The rapid industrialization and globalization across the world have paved way towards the growth of the urban population. Around 55% of the total global population was estimated to reside in urban areas in 2018 and it is projected to reach 68% by 2050. The people in urban areas are involved in busy lifestyles and have little time to sit and indulge meals. This has resulted in the hefty demand for processed, convenience, and ready-to-eat foods, predominantly in developing countries including India and China. The food processing industry in India has attained a tremendous value of $322 billion in 2016 and it is anticipated to reach $543 billion by 2020. However, in line with the growing demand for processed food, the food processing companies are on a compulsion to add scientifically developed flavor systems to compensate for the loss of flavor during the processing of food. Therefore, the growing demand for processed food is considered to be the prime factor fuelling the growth of the flavor systems market size.
The Flavor Systems Market size was valued at $5.6 billion in 2018. Moreover, the demand for flavor systems is anticipated to augment at a CAGR of 4.3% during the forecast period 2019-2025.
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Key companies that are continuously adopting business strategies to gain the majority of the flavor systems market share are Givaudan, International Flavors & Fragrances (IFF), Firmenich SA, Symrise AG, Frutarom Industries Ltd., Sensient Technologies, Mane SA, Takasago International Corp., Robertet Group, and Kerry Group plc. Some of the strategies adopted by these companies include acquisitions, mergers, partnerships, and collaborations. Moreover, they are investing heavily in research and development activities to innovate wide variety of food flavors to stay ahead of their competitors and also to build their brand name.
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