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Biotech Flavors Market Share

Report ID: GMI11779
Published Date: Oct 2024
Report Format: PDF

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Biotech Flavors Market Share

Biotech Flavors Market Company Share, (2023)

The biotech flavors industry is fiercely contested, with both established industry titans and budding biotech firms driving its expansion. To capitalize on the surging demand for natural flavors, leading companies have employed a range of competitive strategies. Notably, larger players frequently resort to strategic mergers, acquisitions, and collaborations, enabling them to broaden their product offerings and enhance their R&D capabilities. A case in point: significant acquisitions in the flavor and fragrance sector have empowered industry frontrunners to harness biotechnology for flavor development on a grander scale.

Market leaders like Fab Flavours, Firmenich, and Givaudan are recognized for their vast product ranges and pioneering efforts in biotech flavor creation. Givaudan stands out with its hefty investments in research, steering towards sustainable biotech solutions and solidifying its leadership in the natural flavors arena. Similarly, Firmenich has bolstered its capabilities through partnerships with biotech entities, emphasizing the production of sustainable flavors and prioritizing consumer wellness and sustainability in its product ethos.

Biotech Flavors Market Companies

Top companies operating in the biotech flavors industry include:

Fab Flavour
Firmenich
Flavorchem & Orchidia Fragrances
Garden Flavours Co. Pvt. Ltd
Givaudan
Jeneil Biotech
Kerry Group
Keva Flavours Pvt. Ltd.
Sensient Technologies Corporation
Takasago International Corporation

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of biotech flavors reached USD 1.5 billion in 2023 and is set to grow at an 8.4% CAGR from 2024 to 2032, led by increasing consumer preference for natural and sustainable food products.

The liquid segment held USD 700 million in 2023 and is anticipated to grow at an 8.8% CAGR from 2024 to 2032, primarily due to its seamless integration into diverse applications like beverages, dairy products, and sauces.

The North America biotech flavors market was valued at USD 500 million in 2023 and is expected to grow at a 9.3% CAGR, driven by robust demand for clean-label products and stringent regulations promoting natural ingredients.

Top companies in the industry include Fab Flavour, Firmenich, Flavorchem & Orchidia Fragrances, Garden Flavours Co. Pvt. Ltd, Givaudan, Jeneil Biotech, Kerry Group, Keva Flavours Pvt. Ltd., Sensient Technologies Corporation, and Takasago International Corporation.