Middle-East and African flavor and fragrance market is expected to register a CAGR of 6.75%, during the forecast period 2020-2025.
- Middle-East food manufacturing and processing sector witnessed rapid growth in the past ten years. The strong support from the government, direct subsidies, long-term interest-free loans, duty-free imports of raw materials, and highly subsided utilities are the factors that prompted the industries to make an entry into the food ingredients market.
- The rapid growth of the food processing sector provides good export opportunities for the US suppliers of bulk and intermediate products, as most of these Middle-East companies rely heavily on imported raw materials and food ingredients, including food flavors.
- As some flavors are country and region-specific, the manufacturers are constantly innovating to introduce new products in the market to capture the major market share. However, due to the presence of limited natural resources to extract flavors, the new entrants often face challenges in the flavor industry.
Key Market Trends
Growing Demand for Natural Ingredients in the Region
The population of Middle-East is at high risk of obesity, which is one of the leading avoidable causes of death in the region. Many are opting for healthy options, such as vegetarianism and veganism to avoid obesity, while others have converted to them out of a sense of responsibility toward living organisms. The unceasing innovation and developments in the flavor market have been tapping the emerging food and beverage industries. Plant-derived vegan flavors in the food ingredients market have emerged as a boon for businesses dedicating operations for vegan products. Moreover, the rising vegan population in the countries remain the primary factor boosting the market studied.
Saudi Arabia Holds a Prominent Share in the Market
The Saudi Arabian food flavors industry is undergoing a transformation with new trends, such as the influence of social media, changing purchasing patterns of the consumers, urbanization, and fast-paced lifestyles impacting the dietary habits. The growth in the food and beverage industry and the technological innovations in flavor manufacturing are the major factors driving the flavors industry globally. In addition, the introduction of functional food products and the increasing demand for recognizable and authentic flavors in various end-user industries, such as dairy and frozen products are the factors boosting the growth of the industry.
Middle-East and African flavor and fragrance market is consolidated with major players holding a major market share. Major players in the market are Givaudan, IFF-Frutarom, Firmenich, Symrise, Takasago, Sensient Technologies, etc. Companies have increased their focus on increasing demand for packaged food products with varied flavor profiles.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support