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The World Biotech Flavors Market
Ubic Consulting, Feb 2011
In recent years, there has been a strong upsurge in the demand for natural products, including natural flavors. This has created a number of opportunities for biocatalysis (use of enzymes) and fermentation to compete with traditional synthetic chemistry for the production of flavors.
Biotech flavors could replace some natural flavors, being manufactured within a controlled environment and at a lower cost. They can also replace some Nature Identical flavors, and justify a natural label.
To succeed in the biotech flavor market a flavor supplier should control the entire production chain, from raw materials to product protection. Therefore he should also manage the fermentation process to obtain a good yield of the targeted molecule, and he must know the customers trends and the flavors in fashion.
The flavors represent a worldwide market of 19.8 billion dollars in 2010 with an annual growth rate from 4 to 5%. In 2010, approximately 42% of this market was represented by the food flavorings (that is to say 8.3 billion dollars) with the following breakdown: 18% for sweetened, 11% for salted and 13% for drinks.
Flavor companies are increasingly focused on emerging markets because of the above-average growth in flavor and fragrance demand, as well as low labor costs and the availability of raw materials at a lower cost, with IFF, Givaudan and Kerry all posting above average growth. Kerry recently reported an 11.8% increase in sales in Asia-Pacific while Givaudan posted an increase of 9.3% in this region.
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