Citrus flavor producers are leveraging emerging clean label nutrition trends to enter long term contracts with food and beverage manufacturers, that will aid sales during and after the covid-19 pandemic.
DUBAI, UAE / ACCESSWIRE / September 22, 2020 / With the global impact of the coronavirus pandemic, the citrus flavors market has gained demand for applications in processed foods and beverages, as consumers have displayed a preference for ready-to-eat convenience food options during the ongoing crisis. In addition, the demand for natural and organic ingredients will also witness a surge during this period, as consumers are more health conscious, aiding market growth even after the outbreak ends.
"Research into enhancing the stability of the new citrus flavor offerings and its wider scope of application in a numerous food types including dairy, confectionary, and others provide strong impetus to demand," says the FMI analyst.
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Citrus Flavors - Primary Takeaways
- Natural citrus flavors are highly popular, owing to higher preference by food processing businesses.
- Citrus flavors are largely used in beverage production applications, aided by changes in consumer preferences.
- Asia Pacific is expected to reflect fast growth in the citrus flavors market, owing to major production and exports of citrus fruits and derivatives in the region.
Citrus Flavors - Growth Factors
- Extensive health benefits and application of citrus flavorings are key factors driving market growth.
- Easy availability of citrus flavor feedstock is generating key lucrative opportunities.
Citrus Flavors- Major Constraints
- Adverse effects on oral health through over consumption is a concern restraining market growth.
- Dependence of natural citrus flavor yield on environment and climate, is a key factor holding back market growth.
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The Projected Impact of Coronavirus
The coronavirus outbreak has substantially increased the demand for processed foods and beverages. In addition, consumers are becoming increasingly conscious about healthier food choices during the crisis. These trends will have a key role to boost the demand for natural and organic citrus flavors throughout the duration of the pandemic. Applications in nutraceutical and pharmaceutical products will generate growth opportunities. Bias towards clean label and organic food options will sustain market growth for the foreseeable future.
Competition Landscape
The citrus flavors market comprises players including but not limited to Takasago International Corp., Citromax Flavors Inc., Symrise AG, Kerry Group plc., Givaudan SA, Frutarom Industries, Firmenich International SA, Sensient Technologies, and International Flavors & Fragrances Inc.
Market players are seeking strategic acquisitions, in addition to investments into citrus fruit cultivation and exports to meet the large-scale demand for new flavor product development initiatives.
For instance, Citromax has initiated shipments of fresh lemons from Buenos Aires to China in June 2020. Symrise AG has partnered with Klaus Bocker for the cultivation of white grapefruit in South Africa. Further, Takasago International Corp has invested US$ 1.5 million in grapefruit tree plantations in Florida for flavor and fragrance production.
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More About the Study
The FMI study provides detailed insights on citrus flavors. The market is broken down in terms of application (beverages, savory, confectionery, and dairy), and ingredients (natural ingredients and artificial ingredients) across seven key regions (North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and MEA).
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https://www.accesswire.com/607212/Citrus-Flavors-Market-to-Surpass-US-13Bn-by-2025-Bulk-Availability-of-Feedstock-to-Support-Natural-and-Organic-Product-Development-Prospects-says-Future-Market-Insights
