Beverage Flavoring Systems Market Worth $5.2 Billion by 2023 - Exclusive Report by MarketsandMarkets™

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The non-alcoholic segment is estimated to account for the largest share, by beverage type, in 2018 

Based on beverage type, the beverage flavoring systems market is segmented into alcoholic and non-alcoholic beverages. The non-alcoholic segment is estimated to account for the largest share in 2018 due to the growing consumption of carbonated soft drinks, juices, and functional drinks. Fortification is observed as a key trend in the beverages market, providing opportunities to the manufacturers to launch flavor systems with novel products. The Asia Pacific region dominated the non-alcoholic beverage flavoring systems market and is projected to reach USD 1,320.7 million 2023 from an estimated value of USD 936.1 million in 2018.

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The fruits & vegetables segment, by type, is estimated to dominate the beverage flavoring systems market in 2018 

By type, the beverage flavoring systems market is segmented into fruits & vegetables; chocolates & browns; herbs & botanicals; dairy; and others, which include curing & pickling agents, preservatives, acidity regulators, emulsifiers, and stabilizers. The fruits & vegetables segment is estimated to account for the largest market in 2018. Many manufacturing companies are catering to the increasing awareness of consumers about healthy products, thereby introducing tropical fruit-flavored beverages and vegetable-inspired beverages, due to which, this market is also projected to be the faster-growing market during the forecast period.

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Asia Pacific is estimated to dominate the beverage flavoring systems market, in terms of value, in 2018 

There has been an increasing demand for carbonated soft drinks across the region. The region is an emerging market, with investments from several multinational manufacturers, especially in countries such as China, India, and Japan; these are the major markets in the region. There is also an increased interest being shown toward natural, tropical, and exotic aromas. All these reasons are aiding the growth of the beverage flavoring systems market in the region.

This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies. It includes the profiles of leading companies such as Cargill(US), Archer Daniels Midland Company ( ADM) (US), Givaudan (Switzerland), Sensient Technologies (US), Kerry (Ireland), International Flavors and Fragrances (IFF) (US), Firmenich (Switzerland), Tate & Lyle (UK), MANE (France), Döhler (Germany), Takasago (Japan), Flavorchem Corporation (US), and Frutarom (Israel).

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