Russia Food Flavor and Enhancer Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Russia Food Flavor and Enhancer Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Russian food flavor and enhancer market is projected to record a CAGR of 3.5% during the forecast period.

Key Highlights

• There is a rising demand for natural food flavors and consumers are seen avoiding artificial colors and flavors that are incorporated into different food categories, owing to the increasing health hazards that occur in consumption of synthetic/artificial flavors, which has resulted in an increased demand for natural food flavors.
• Due to rising health concerns, there is a continuous rise in the demand for specialty ingredients, along with natural food flavors in functional and fortified beverages.
• However, despite the need to rely on comfort foods, consumers are reluctant to compromise on flavor. People in the younger age group are the primary consumer base, constantly willing to discover varied culinary traditions, in the interest of their taste buds.

Key Market TrendsRising Demand for Clean Label Ingredients

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.

Natural-identical Flavors is the Growing Market

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.

Competitive Landscape

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.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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