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Italy Food Flavor and Enhancer market is segmented by Type (Natural Flavor, Synthetic Flavor, Nature Identical Flavoring, Flavor Enhancers), by Application (Dairy Products, Bakery, Confectionery, Processed Food, Beverage, and Others)
The Italy Food Flavor and Enhancer market is expected to grow at a CAGR of 4.8% over the forecast period, 2020 to 2025.
The Italy Food Flavor and Enhancer market is segmented by Type as Natural Flavor, Synthetic Flavor, Nature Identical Flavoring, Flavor Enhancers, and by Application as Dairy Products, Bakery, Confectionery, Processed Food, Beverage, and Others.
|Nature Identical Flavoring|
|Bakery & Confectionery|
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Over the past years, along with Europe, Italy has witnessed a high demand for natural food additives as food companies shift away from synthetic ingredients and consumers look for products with natural ingredients. Many food additives/flavors are from developing countries, thereby providing strong opportunities for exporters. Italian consumers are willing to pay more for high-quality and healthy products, while demand for organic food and drink is increasing in the country. On the other hand, multinational companies have developed organic lines to complement their conventional product lines.
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Italy has a strong tradition for bakery products and confectionery that has led to the creation of different types of baked goods, both sweet and savory. This segment has facilitated the demand for flavor and enhancers, mostly naturals. On the other hand, an increasing working women population has led to a high demand for processed food which the food manufacturers need to cater to using a combination of different flavors and enhancers. Consumption of low fat, low salt, and low carbohydrate foods are also key drivers to increase the consumption of flavors and enhancers. As flavors are region and country-specific, manufacturers are constantly innovating to hold a larger share of the pie in the market.
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A significant share of the flavor and enhancers market in Italy is dominated by a leading player named Givaudan, Firmenich, IFF, and rest other inclusive of Quest, Takasago, Sensient, Danisco, are the major player. Product innovation has been one of the front running strategies adopted by leading players to dominate the market, however, the market is mature in terms of the maturity of flavor & enhancers in entire Europe, thereby, dealing with novel flavor imports from Asia.
1.1 Study Assumptions & Market Definitions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Natural Flavor
5.1.2 Synthetic Flavor
5.1.3 Nature Identical Flavoring
5.1.4 Flavor Enhancers
5.2 By Application
5.2.1 Dairy Products
5.2.2 Bakery & Confectionery
5.2.3 Processed Food
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Position Analysis
6.3 Company Profiles
6.3.1 European Flavours & Fragrances Plc
6.3.2 Corbion Purac
6.3.3 Cargill Inc
6.3.4 Givaudan SA
6.3.5 Kerry Group
6.3.6 D.D. Williamson & Co Inc.
6.3.7 Archer Daniels Midland(ADM)
6.3.8 International Fragrance and Flavours, Inc.
6.3.9 Symrise AG
7. MARKET OPPORTUNITIES AND FUTURE TRENDS