SUBSCRIBE

Breaking News on Food & Beverage Development and Technology - Asia PacificEU edition | US edition

Regions > All Asia

Asia-Pacific to see biggest growth in biotech flavour market

Post a commentBy RJ Whitehead , 09-Mar-2017
Last updated on 09-Mar-2017 at 17:01 GMT2017-03-09T17:01:19Z

© iStock
© iStock

The global market for so-called “biotech flavours” is expected to witness significant growth during the next eight years owing to a thriving R&D pipeline and the stellar performance of Asia-Pacific in the market.

Based on alternative processes of obtaining an organic synthesis of flavours through the biotransformation of a flavour compound, biotech flavours differ from the traditional extraction of flavours using special enzymes and microbes.

According to Persistence Market Research (PMR), the global market will grow by 11% between 2016 and 2024. This will translate to sales of almost US$2.1bn in 2024, compared to this year’s estimated US$906m.

Several countries in Europe and North America have acknowledged flavour compounds as natural after using the bio-tech flavour process. In addition, favourable taxation policies by the government are also expected to influence the popularity of market for the next eight years.

PMR suggests that a buoyant research & development programme to create advanced applications will continue to strengthen the market, as will the functional nature of some biotech flavours for health-conscious consumers, with benefits including boosting antioxidant levels and lowering the risk of metabolic diseases.

However, a comparatively shorter shelf-life than artificial and natural flavours, a major restraining factor for the product’s popularity, will take time to improve on. Another challenge is the restriction of some biotech flavours, including vanilla and vanillin in soda beverages owing to reaction concerns. 

By the end of 2016, North America will account for the highest share of the market in terms of value, and will expand at a compound rate, the report predicts for the forecast period. 

In Asia-Pacific, demand will have grown by a factor of 2.7 by 2024. In terms of value and volume, the bio-tech market in Apac will witness the fastest growth globally.

Accounting for more than 55% of the market in terms of volume by the end of this year, food will be the dominant segment, and should witness healthy compound growth until at least 2024. This is primarily due to higher consumption of packaged foods and beverages.

Post a comment

Comment title *
Your comment *
Your name *
Your email *

We will not publish your email on the site

I agree to Terms and Conditions

These comments have not been moderated. You are encouraged to participate with comments that are relevant to our news stories. You should not post comments that are abusive, threatening, defamatory, misleading or invasive of privacy. For the full terms and conditions for commenting see clause 7 of our Terms and Conditions ‘Participating in Online Communities’. These terms may be updated from time to time, so please read them before posting a comment. Any comment that violates these terms may be removed in its entirety as we do not edit comments. If you wish to complain about a comment please use the "REPORT ABUSE" button or contact the editors.

Related products

Related suppliers

Key Industry Events

 

Access all events listing

Our events, Shows & Conferences...