Nature Identical Flavors to Lead India Flavors Market through 2024
Growing
demand for packaged food coupled with changing taste preferences of Indian
consumers to drive India flavors market through
2024
According to TechSci Research
report, “India Flavors Market By Source, By Application, Competition, Forecast & Opportunities, 2014
- 2024”, India
flavors market is projected to grow at a CAGR of over 13% during 2019-2024 on
the back of rising population of working women and hence growing disposable
income which is pushing the demand for ready-to-eat packaged food and beverages
across the country. Among regions, North India holds the largest market share
accounting for over 30% of the market, closely followed by West India. Both
regions are expected to maintain their position on account of high awareness
regarding flavored products and availability of numerous product options in various
application-based segments of India flavors market. Moreover, a robust
distribution channel of leading players in the regions has further made a
variety of flavored products accessible to the consumers, thereby further
propelling growth in the market.
Some of the leading players in India flavors market are International
Flavors and Fragrances India Private Limited, Givaudan (India) Private Limited,
Symrise Private Limited, Firmenich Aromatics (India) Private Limited, S H
Kelkar and Company Limited, among others.
Browse market data Tables and Figures spread through Pages and an
in-depth TOC on " India Flavors Market "
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On the basis of application, India flavors market has
been majorly divided into six categories, viz., bakery, beverages,
pharmaceuticals, dairy, confectionery, and other application types. Beverages segment
dominated India flavors market with around 37% share in 2018 and is expected to
maintain its dominance during the forecast period as well on account of ease of
consumption of the products and continuous introduction of innovative flavors
in categories like sugar-free beverages and low-carb beverages.
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“With changing consumer palate due to growing awareness
and availability of options, India flavor market is anticipated to register a
strong growth in the coming years. Moreover, as people are becoming more conscious
about health and taste, innovations across the categories are being appreciated
and gaining huge traction.” said Mr. Karan Chechi Research Director with
TechSci Research, a research based global management consulting firm.
“India Flavors Market By
Source, By Application, Competition, Forecast & Opportunities, 2014 - 2024” has evaluated the future
growth potential of Indian flavor market and provides statistics and
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges and
opportunities in India flavor market.
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TechSci Research
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