The global biotech flavors market was worth USD 465.7 million in 2016 and it is projected to reach USD 862.0 million in 2023.

Pune, India -- (SBWire) -- 11/19/2018 --The global biotech flavors market was worth USD 465.7 million in 2016 and it is projected to reach USD 862.0 million in 2023, expanding at a CAGR of 9.5% between 2017 and 2023. In terms of volume, the global market size of biotech flavors was worth 20499.7 tons in 2016 and it is projected to reach to 31024.6 tons in 2023, expanding at a CAGR of 6.25% over the period of 2017 to 2023.

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"Our latest research report entitled Biotech Flavors Market (by flavor (vanilla and vanillin, fruity flavor), form (liquid, powder and paste), and application (dairy products, confectionery products, non-dairy ice-cream, bakery products and neutraceuticals)) provides complete and deep insights into the market dynamics and growth of Biotech Flavors. Latest information on market risks, industry chain structure Biotech Flavors cost structure and opportunities are offered in this report. The past, present and forecast market information will lead to investment feasibility by studying the essential Biotech Flavors growth factors.

The forecast Biotech Flavors Market information is based on the present market situation, growth opportunities, development factors, and opinion of the industry experts. An in-depth analysis of the company profiles, Biotech Flavors on the global and regional level and applications is conducted. The analysis of downstream buyers, sales channel, raw materials, and industry verticals is offered in this report.

The report identified that the global biotech flavors market is driven by factors such as high consumer awareness regarding the nutritional benefits of biotech flavors coupled with rising health consciousness among consumer. Moreover, biotech flavors market is driven by biotech processes such as plant tissue culture, microbial fermentation, and bio-conversion enable conversion of fruits and vegetables ingredients into flavors without having any adverse impact on nutritional value. On the other hand, the restraining factor identified in the study includes low-shelf life of the biotech flavors.

Biotech flavors market is expected to experience significant growth globally. The global market for biotech flavors is expected to grow at a CAGR 9.48% over the period of 2017 to 2023; emerging markets of Asia-Pacific are expected to augment the growth in the global market over the forecast period owing to rapidly growing use of natural ingredients in food and beverages industry. Moreover, high level of awareness among the population in the developed regions is expected to drive the growth in the global biotech flavors market.

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Emerging markets of Asia-Pacific, Africa and Latin America regions are expected to drive the growth in the world market. The Asia-Pacific region is expected to grow at a CAGR of 10.04% over the forecast period. The fast growth in India and China are the key factors promoting to swift CAGR growth in the region over the period of 2017 to 2023.