The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreJun 2016
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Flavour is an essential tool for food and drinks producers, not only in delivering palatability but also in positioning a product or targeting a specific audience. Part One of this 2-part report presents background on the flavour industry and looks at global flavour market trends, quantifying and segmenting the market by region and by major product category.
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
Consolidation in the international flavours industry has created several flavour giants with the financial wherewithal to continue driving advances.
After a number of years of consolidation, the industry now appears to be switching focus to expanding regional coverage and investing in local operations.
Global demand for food and beverage flavours totalled 1.3 million tonnes in 2015, following a CAGR of 2.1% since2011.A solid CAGR of 2.3% is forecast over 2015-2019, taking volume to 1.4 million tonnes.
Alcoholic and soft drinks accounted for a combined share of 62% of global flavour volumes in 2015, well ahead of dairy and ice cream with 16%.
The snacks, sauces and dairy categories are forecast to show strongest growth over 2015-2019 and should continue to attract innovation.
Regionally, the Middle East and Africa and Asia Pacific will lead the way in flavour growth over 2015-2019, with forecast CAGRs of 4.8% and 4.5%, respectively.
Although the markets of North America and Western Europe will be relatively static in terms of overall volume, these will continue to drive innovation in flavour choices so remain an important focus for flavour houses.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.