21 June 2019 | News
Growing consumer awareness pertaining to common health issues including obesity and diabetes will boost the demand for low-sugar or sugar substitute drinks.
Beverage Flavoring Systems Market size is estimated to surpass USD 5.7 billion by 2025; according to a new research report by Global Market Insights, Inc.
The rapid expansion of the beverage industry owing to changing consumer preferences coupled with product diversification among key manufacturers is anticipated to drive the beverage flavoring systems market size. Positive applications outlook in protein-based beverages, naturally brewed tea, soft drinks, alcoholic and flavored water will propel product demand. Global beverage demand was estimated at over 950 billion litres in 2018 and is likely to witness prominent growth over the projected timeframe.
Growing consumer awareness pertaining to common health issues including obesity and diabetes will boost the demand for low-sugar or sugar substitute drinks. As per industry experts, the demand for non-dairy plant milk has witnessed significant growth from 2000 to 2016 while the global per capita fluid milk consumption decreased by close to 23%. Increasing necessity for essentials minerals and enzymes which promote healthy digestion among athletes will surge the demand for plant-based sports drinks.
Stringent government regulations in line with consumer safety and product labelling has urged the beverage companies to incorporate natural flavors in their final product. Consumers are likely to scrutinize the product labels for natural ingredients before purchase and willing to pay premium prices. Henceforth, manufacturers are anticipated to give more emphasis on natural flavors rather than their synthetic counterparts to boost their product sales.
Browse key industry insights spread across 350 pages with 600 market data tables & 14 figures & charts from the report, “Global Beverage Flavoring Systems Market Size By Ingredient (Flavoring Agents, Carriers, Enhancers), By Type (Natural, Artificial), By Beverage (Non-Alcoholic, Alcoholic), By Form (Liquid, Powder) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Netherlands, Poland, Russia, China, India, Japan, South Korea, Australia, Indonesia, Thailand, Brazil, Argentina, Mexico, Saudi Arabia, UAE, South Africa, Egypt), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
Alcoholic beverages accounted for over 28% of beverage flavoring systems market share in 2018. Premium wine, spirits along with craft beers are among the preferred products in the alcoholic beverage segment. Rising millennial spending on alcoholic beverage to maintain social status will provide positive business outlook for flavor manufacturers. Rapid expansion of large-scale breweries in major countries including France, Italy, Germany, and UK will also provide positive business outlook for industry participants.
Natural beverage flavoring systems market is anticipated to witness fastest growth from 2019 to 2025. Increasing demand for organic and sustainably sourced ingredients as well as taste modulators to sustenance the sugar, salt and fat reduction in likely to fuel the segment growth. Health conscious consumers are likely to drive innovation among key drinks manufacturers by demanding more organic products from the brands that they consume over the projected timeframe.
Asia Pacific beverage flavoring system market is expected to register CAGR over 5.5% up to 2025. Rising carbonated soft drinks production is expected to fuel demand for artificial sweeteners, caffeine, vitamins, preservatives, fruit extracts, and added flavors & colors in the region. Increasing consumer consciousness regarding wellness and healthy lifestyle will surge the demand for bottled water, fruit juices and other ready-to-drink beverages. Growing demand for beverages with exotic flavors and new product development by key manufacturers including PepsiCo and Coca-Cola will foster market development.
Global beverage flavoring systems is competitive in nature due to the presence of multinational and regional, large and small manufacturers. Key industry players in the industry are Cargill, International Flavors & Fragrances, Firmenich, Tate & Lyle, MANE, Dohler, Archer Daniels Midland Company, Givaudan, Sensient Technologies, Kerry, Flavourchem corporation, Bell Flavors & Fragrances. Key strategies adopted by industry participants include acquisition of small owners, mergers, new product development. Factors such as social engagement, authenticity, sustainability, clean labels, traceable sourcing, healthier ingredients and functional benefits fueling are anticipated to boost sales revenue for industry participants.