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The Russian Food Flavor and Enhancer market is segmented by Type into Flavors (Natural Flavors, Synthetic Flavors, and Nature Identical Flavors) and Flavor Enhancers, and by Application into Bakery, Confectionery, Dairy, Beverages, Processed Food, and Other Applications
The Russian food flavor and enhancer market is projected to record a CAGR of 3.5% during the forecast period.
The Russian food flavor and enhancer market is segmented by type into flavors and flavor enhancers. The flavors segment is further sub-segmented into natural flavors, synthetic flavors, and nature-identical flavors. Based on application, the market is segmented into bakery, confectionery, dairy, beverages, processed food, and other applications.
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With increasing health awareness, most of the population thoroughly checks the label of a product before buying it. This awareness among consumers has prompted manufacturers to undertake the replacement of synthetic flavors with natural flavors. There has been a growing consumer demand for processed food and the expectations for safer and healthier ingredients have, in turn, increased the need for the introduction of clean-label ingredients across diverse applications. An interest in the development of new natural flavor substances has been observed, for their use in the food industry, which is due to the strong consumer demand for more natural products. The health-enhancing properties of natural flavors, combined with the organic properties in natural products, are also increasing their adoption.
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The demand for nature-identical flavoring is increasing at a lucrative growth rate, owing to the increasing demand for flavor variations among the millennials and teenagers' consumers in the global food and beverage market. Furthermore, the increasing demand for healthy food and beverages is also increasing the demand for nature-identical flavorings in the market, as they impart the identical taste to natural flavors in the end products. Additionally, they are more economical than natural flavors due to their convenient processing and extraction methods. The cost-effectiveness of nature-identical flavorings increases their demand and use in various industries.
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The Russian food flavor and enhancer market is consolidated with the major players holding the maximum share in the market. The key strategies adopted by the companies are new product innovation, mergers and acquisitions, partnerships, and expansion. The major players are Givaudan, Firmenich, Kerry Group, and International Flavors and Fragrances Inc.
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
3.1 Market Overview
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
22.214.171.124 Natural Flavors
126.96.36.199 Synthetic Flavors
188.8.131.52 Nature Identical Flavors
5.1.2 Flavor Enhancers
5.2.5 Processed Food
5.2.6 Other Applications
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.3 Kerry Group
6.3.4 International Flavors and Fragrances Inc.
6.3.5 Symrise AG
6.3.7 Archer Daniels Midland Company
6.3.8 Takasago International Corporation
7. MARKET OPPORTUNITIES AND FUTURE TRENDS