MENA Food Flavors Market size is forecast to reach $2.02 billion by 2025,growing at a CAGR of 6.3% during the forecast period 2020-2025. Advanced technologies for processing more food types and flavors as secondary food additives, shift of mass lifetowards urbanization and change in food habits of consumers towards better tastes have led to an increased demand for packaged foods which drive the MENA food flavors market.In addition, exposure to the various tastes of food around the world and entry of new market players in recent years has aided the market growth. Increasing population and growing dispensable income make way for lucrative growth opportunities for the market.
Type – Segment Analysis
Synthetic Flavors segment held the largest share in the MENA Food Flavors market in 2019 and is estimated to grow at a CAGR of 4.06% during the forecast period 2020-2025.Economically cheaper production of artificial flavors has helped in keeping the sales cost affordable. This drives the market growth of this segment. However, Natural Flavors segment is estimated to continue to be the fastest-growing segment and is set to register a highest CAGR during the forecast period 2020-2025 owing to their preference as the ultimate taste supplements in fast food and health consciousness consumers. With the growing trend of health consciousness, natural flavors are becoming the principal attraction of the end-users, as they are directly extracted from the fruits or vegetables or spices grown in nature.
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Application – Segment Analysis
Savory & snacks segment held the major share in the MENA Food Flavors Market in the year 2019.This is owing to high demand for spicy fast foods and their supplementary flavors which comes from this segment. Beverages segment is estimated to grow at the highest CAGR during the forecast period 2020-2025, especially in the developing nations, owing to rise in prevalence of ethnic drinks and food products, and westernization of diet in the emerging countries.
Geography- Segment Analysis
Middle East dominated the MENA Food Flavors market in 2019 with a share of more than 80.43%. Economic development and rise in disposable income have helped in evolving the demand for fast food and different tastes in the region. North Africa region has the second place in the total market share in this segment, owing to growing consumption of processed foods and growing consumer base of ready-to-eat food products.
However, Middle East region is forecast to grow at the highest CAGR during the forecast period 2020-2025 owing to shifting food tastes towards westernized foods, entry of key market players and growing demand for flavored and healthy food.
Drivers –MENA Food Flavors Market
• Increasing number of application in beverage and bakery
Increasing application of natural flavors in beverages and the bakery and confectionery industry drivesthe growth of the global MENA Food Flavors market. Owing to the increased demand and the growing food and beverage industry, particularly for vanilla extract, the market is estimated to grow during the forecast period 2020-2025.
• Growing food and beverage industry
Increasing consumer base of the food and beverage industry ensures that there is enough demand for the food flavors. Flavored waters from Food Network are infused with fresh fruits, vegetables and herbs, whose demand is increasing. Also, trend of products like cinnamon sticks, black pepper, savory flavors are likely to aid the demand. This helps in the market growth and actsas a driving factor.
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Challenges – MENA Food FlavorsMarket
• Side Effects and adulteration
In order to meet the large demand of flavors for the customers, there is a chance of deterioration in quality of the flavors, leading to health problems. In addition to this, there is adulteration of flavors, which is poised to cause a challenge to the market growth.
MENA Food Flavors Industry Outlook
Product launches, mergers and acquisitions, joint ventures and R&D activities are key strategies adopted by players in the MENA Food Flavors market. In 2019, MENA Food Flavors market share is consolidated by the top players present in the market. MENA Food Flavorstop10 companiesareGulf Flavours& Food Ingredients, Aachoos Food Stuff LLC, Al Fanar Food Industries LLC, Daakik Food Stuffs Est, Givaudan Suisse SA, Frutarom, Sensient, Mane, Takasago, Kerry Group and Robertetamong others.
In March 2019,Al Fanar signs strategic agreements at MEE 2019 announced agreement with Borouge, an ADNOC company.
In February 2020, Givaudan, announced that it has completed the acquisition of Ungerer& Company, a US based flavour, fragrance In April 2017, pioneering was partnership announced between Kerry Group and the World Food Programmem, which would help in the growth of their flavor market.
• Middle East dominates the MENA Food Flavors market in 2019 owing to a growing customer base for organic products in the country. For instance, the sales of organic foods and drinks in the UAE increased by a significant rate from last few years.
• The growth of the global MENA Food Flavors Industry is owing to the result of the increasing application of natural flavors in beverages and the bakery and confectionery. Owing to the increased demand and the growing food and beverage industry, the market is estimated to grow during the forecast period 2020-2025.
• Detailed analysis on the Strength, Weakness and opportunities of the prominent players operating in the market will be provided in the MENA Food FlavorsMarket Report.
• Adulteration of food and harmful effects of adulterated food on the human body is set to create hurdles for the MENA Food Flavor market.
A. Natural Flavors Market
B. Specialty Food Ingredients Market
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