Bio-tech flavors are compounds that are basically produced by using biotech process as a substitute for organic synthesis process. Bio-tech is an emerging field that facilitates the production of healthiest food without the content of chemical compounds. Bio-tech processed foods are claimed to boost immunity and metabolism level of the body and also stimulate the other function of the body. They can be classified into vanilla & vanillin, fruity flavor, microbial produced flavor, and essential oils. Bio-tech flavors find application across food, beverage, and nutraceuticals and available in the form of Liquid, Powder, Spray Dry, and Paste.
The global bio-tech flavor market was estimated to account for approx. US$ 1.2 billion in terms of revenue in 2018 and is projected to grow at a CAGR of 11% during the forecast period (2019 to 2027).
Increasing preferences of consumers for bio-tech based product is predominantly fueling the market growth of the bio-tech flavors. For instance, according to the Coherent Market Insights, in 2015, out of every seven new beverage product launch, one was labeled as natural. Products, which were labeled as biotech witnessed increased sales revenue and leading to manufacturers introducing new product ranges with natural ingredients including flavors in respective markets. Flavor is gaining high popularity among food ingredients market and preference for organic and biotech-based flavors by consumers due to rising health awareness is expected to foster market growth over the forecast period.
Increasing demand for vegetarian meat flavor as it is gaining popularity among both non-vegetarian ad vegetarian consumers is expected to offer immense growth opportunity over the forecast period. Vegetarian meat flavors are the best choice for those who do not like red meat. For instance, In January 2016, Gold Coast Ingredients, Inc. introduced vegetarian savory flavors line with organic, non-GMO, gluten-free and MSG-free certifications such as 100% vegetarian chicken flavors, 100% vegetarian beef flavors, and 100% vegetarian pork flavors. Hence, the rising demand for vegetarian meat flavor is expected to fuel market growth.
Factors such as stability and reaction associated with the bio-tech based flavor are expected to hinder the market growth of bio-tech flavor market over the forecast period. Bio-tech flavors easily get reacts with other ingredient present in food & beverages and there are other environmental factors can affect the stability of bio-tech flavors such as humidity, temperature, and chemical compounds in the flavors. These flavors are needs to maintain separately. For example, strawberry juice flavor is kept differently from strawberry concentrated flavors. These factors are expected to restrict market growth over the forecast period.
On basis of the form, powder type flavors dominated the global bio-tech flavor market in 2018, accounting for 41.4% share in terms of revenue, followed by liquid and spray dry form, respectively. Bio-tech flavors in powder form are used in wide range of products such as for, baking purposes, dry mixes, smoothies & shakes and others as the dissolve readily in liquids.
Rising demand for clean label food products that provide a detailed description of the content is expected to fuel the market growth. Growing awareness regarding the adverse effects of artificial chemicals present in the food is propelling the demand for clean label food products. In March 2016, Sensient Technologies Corporation developed Sensient Natural Origins — a range of vanilla & vanillin flavors extracts, extracted from botanicals — used for applications in various natural and clean label products such as craft beers and chocolates.
Increasing demand for flavored energy-drink is projected to propel the market growth of the bio-tech flavor over the forecast timeframe. For instance, in December 2019, Coca-Cola unveiled its energy drink line in the U.S. this past October, ahead of the sales launch. It includes regular and cherry flavors, as well as zero-calorie versions of each. The drink is already available in 25 international markets. Hence, the increasing launch of such flavored energy drink by major players is expected to fuel the market growth.
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.
Few Recent Developments
Frutarom Industries Ltd
By Flavor Type
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