The "Asia Pacific Dairy Flavors Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Flavor Profile, Form, Category, Nature and Application" report has been added to ResearchAndMarkets.com's offering.
Wide Scope of Application is driving the Asia Pacific Dairy Flavors Market Growth during 2021-2028
The market is expected to grow from US$ 847.48 million in 2021 to US$ 1,157.67 million by 2028; it is estimated to grow at a CAGR of 4.6% from 2021 to 2028. The report highlights key factors driving the Asia Pacific dairy flavors market growth along with an analysis of the prominent players and their progress in the market.
Dairy flavors are processed and manufactured from dairy products such as milk, butter, cheese, cream, and others and are available in liquid, powder, and paste formats. These flavors are intended to enhance the flavor and intensity of various food products by providing them with an array of multiple flavor profiles such as buttery, cheesy, creamy, and other various sweet and savory tastes. Dairy flavors are used in various food products such as bakery and confectionery, sweet and savory snacks, soups and sauces, dips and dressings, and frozen desserts.
The food & beverage industry in Asia Pacific is growing rapidly. Consumers are increasingly spending on convenience food products due to their hectic lifestyles and changing consumption habits. Moreover, the trend of snacking between the long working hours is driving the demand for convenience foods in the region.
Dairy flavors are widely used in packaged foods and beverages and are getting popular among consumers owing to their unique flavor and mouthfeel. Thus, the growth of the food & beverage industry and the increasing utilization of dairy flavors in a wide range of food products are significantly driving the growth of the dairy flavors market across Asia Pacific.
Jeneil Biotech Inc., Flavorjen, The Edlong Corporation, Givaudan S.A., Kerry Group, Sensient Technologies Corporation, Symrise, Synergy Flavors, Bluegrass Ingredients Inc, Flavorade India are key players operating in the Asia Pacific dairy flavors market.
Impact of COVID-19 Pandemic on Asia Pacific Dairy Flavors Market
Many sectors were affected due to the outbreak of COVID-19. The food & beverage industry across Asia Pacific also faced unprecedented challenges due to the restrictions imposed by the government of various countries to prevent the spread of the virus. Lockdowns, border restrictions, and shutdown of manufacturing units halted the manufacturing activities of various food and beverage products.
Moreover, the shortage of raw materials and labor due to supply chain disruptions hampered the profitability of various small-scale and large-scale manufacturers. Further, China was the first to announce nationwide lockdowns and trade restrictions, which adversely affected the country's production and supply of various foods and beverages.
However, the demand for sweet and savory snacks and bakery goods in the region increased during the pandemic as people stayed at home and craved tasty and flavorful food. Dairy flavors are widely used in sweet and savory snacks such as popcorns, chips, nachos, and others. Asia Pacific.
The market situation is far better than earlier. Many Asia Pacific countries are double vaccinated. The manufacturers are permitted to operate with full capacity. The restrictions imposed on large retail establishments such as supermarkets & hypermarkets and departmental stores, theatres, and other public places have been relaxed. All these factors are projected to positively drive the growth of dairy flavors market across Asia Pacific.
Moreover, with the relaxation of government restrictions, the demand for convenience and on-the-go foods also increased which is expected to further drive the market growth over the coming years. Thus, COVID19 has significantly impacted the market initially, however as the situation is improving thus creating new opportunities for the Asia Pacific dairy flavors market growth.
Key Market Dynamics
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