SEATTLE, May 05, 2020 (GLOBE NEWSWIRE) -- Biotech flavors are flavor produced by using a biotechnological process that transformed simple residues into highly nutritious product. These flavors are eco-friendly and completely pure since they are produced from highly efficient process. Moreover, these flavors exhibit various health benefits due to which it is gaining popularity across food and beverage industry. Product infused with biotech flavors enhance the energy level, boost metabolism, and improve other body functions. They are available in liquid, paste, and powder form. Some of the application of bio-tech flavors are dairy, bakery & confectionery, beverages, and nutraceuticals.
The global Bio-Tech Flavor market is estimated to account for US$ 1240.5 Mn in terms of value and 60,988 Tons in terms of volume by the end of 2019.
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Market Drivers:
Advancement in the technology used for the manufacturing of bio-tech flavors is primarily fueling the market growth of the biotech flavors. Increasing demand for processed and convenience food is also contributing to the market growth of the biotech flavors. Moreover, biotech flavors are gaining popularity among health-conscious consumer on the account of various health benefits it offers. All these factors are projected to augment the market growth of biotech flavor over the forecast period.
Growing demand for organic and natural flavors due to rising awareness regarding the ill effects of synthetic based food flavors is expected to fuel the market growth of biotech flavors. Rising introduction of variety in flavor such as lemon and cucumber that helps in stimulating the liver functions is again propelling the market growth of biotech flavors. Moreover, other flavors such as vanilla has excellent anti-bacterial and anti-oxidant properties which are further augmenting the market growth of biotech flavors.
Key Takeaways:
Amongst all regions, North America segment dominated the global Bio-Tech Flavor market in 2019, accounting for 34.7% share in terms of volume, followed by Europe and Asia Pacific, respectively. The growth of the region can be attributed to the boom in the food and beverage industry along with several other factors such as growing awareness about product benefits and increasing adoption from end-users. Furthermore, the major bio-tech flavor manufacturers such as Sensient Technologies Ltd. and IFF are also located in North America region, thereby driving the growth of the market.
By Source, Fruit & Fruit Juice segment dominated the global Bio-Tech Flavor market in 2019, accounting for 57.2% share in terms of volume, followed by Vegetable & Vegetable Juice and Plant & Botanical, respectively. The consumers prefer fruit juices, energy drinks, and soda infused with natural flavorings as they contain high level of nutrients. Furthermore, the rising demand of flavored beverages is driving the growth of the market.
By Form, Powder segment dominated the global Bio-Tech Flavor market in 2019, accounting for 41.4% share in terms of volume, followed by Liquid and Spray Dry, respectively. The powder form of the bio-tech flavor is being widely used in all kinds of food products such as bakery products, dairy products and confectionery products amongst others, thereby driving the growth of segment. Also, the powders are available in form of yogurt powder, energy drink powders and butter powders, thereby providing numerous health benefits to the consumers.
By application, food segment dominated the global Bio-Tech Flavor market in 2019, accounting for 55.2% share in terms of volume, followed by Beverages and Nutraceuticals, respectively. The most demanded product in the flavor industry is sugar, as it plays a major role in texture, caramelisation and crystallization. The major players of the global food industry are focusing on the use of Bio-Tech Flavor for baking products such as cookies and biscuits.
By Flavor type, Vanilla & Vanillin segment dominated the global Bio-Tech Flavor market in 2019, accounting for 35.8% share in terms of volume, followed by Fruity Flavor and Essential Oils, respectively. Vanilla & Vanillin flavors are being used extensively in numerous foods and beverages. The harvesting of vanilla is effected largely by the weather changes. Therefore, the companies are using bio-tech vanilla & vanillin flavor as it is an effective way of delivering a natural solution, and is also stable from the supply and price perspective.
Competitive Section:
Players active in the market are Givaudan S.A, International Flavors & Fragrances Inc., Firmenich SA, Symrise AG, Takasago International Corporation, Sensient Technologies Corporation, Kerry Group, and Frutarom Industries Ltd.
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Market Segmentations:
By Region
- North America
- Latin America
- Europe
- APAC
- MEA
By Flavor Type
- Vanilla & Vanillin
- Fruity Flavor
- Microbial Produced Flavor
- Essential Oils
By Source
- Fruit & Fruit Juice
-
- Berries
- Citrus
- Drupes
- Pepos
- Pomes
- Others
- Vegetable & Vegetable juice
- Plant & Botanical
- Spices
- Herbs
- Others
- Meat & Seafood
- Meat & Poultry
- Seafood
- Dairy
- Dairy products
- Edible East
By Form
- Liquid
- Powder
- Spray Dry
- Paste
By Application
- Food
-
- Dairy Products
- Bakeries
- Confectionaries
- Savories
- Beverage
- Alcoholic
- Non-Alcoholic
- Nutraceuticals