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Follow on Google News | Philippines Food Ingredients Growth, Philippines Food Ingredients Trends - Ken ResearchBy: Ken Research.com The report concludes with porter five forces analysis, market projection for future and analyst recommendations highlighting the major opportunities and cautions. Philippines Food Ingredients Market Size The demand in Philippines food ingredients market basically comprises of various types of food ingredients such as functional foods, sugar substitutes, flavors, specialty starches, preservatives and food emulsifiers. Robust demand for the packaged foods owing to the changing lifestyle, tastes and preferences; Philippines Food Ingredients Market Segmentation By Type of Ingredients The flavors segment in the country dominated the Philippines food ingredients market with revenue share worth ~% in the year 2016. In terms of sales volume, the flavors segment was evaluated at ~ tonnes, thus capturing ~% of total sales in Philippines food ingredients market in 2016. Sweeteners followed the food flavors segment with revenue share worth ~% in the Philippines food ingredients market in 2016. On the other hand, colors, preservatives, fragrance and food ingredients such as acidulants, cultures, proteins, emulsifiers and co-emulsifiers, minerals, botanicals, carotenoids, cocoa liquor and powder, flavor enhancers, modified flour, PH / controlled salt, Polysaccharides & Oligosaccharides, raising agents and reducing agents collectively captured the remaining revenue share worth ~% in Philippines food ingredients market in the year 2016. In 2016, the average price for food coloring (yellow/red/ Philippines cultures market generated volume share of ~% in 2016 while emulsifiers market generated volume share of ~% in 2016. Philippines botanical extracts market on the other hand generated volume share of ~% in 2016 and carotenoids market generated volume share of ~% in 2016. By Products Imported and Locally Manufactured Imports of food ingredients majorly dominated Philippines food ingredients market with revenue share worth ~% in the year 2016. Whereas, locally manufactured food ingredients captured the remaining revenue share worth ~% in the year 2016. By Food and Beverages The processed foods segment including meal replacement and packaged foods collectively dominated Philippines food ingredients market with volume share of ~% in the year 2016. Artificial sweeteners, synthetic Trans' fats, artificial flavors, Monosodium Glutamate (MSG), artificial colors, high-fructose corn syrup and preservatives were majorly used in processed foods in the country. On the other hand, the beverages segment captured the remaining volume share worth ~% in the Philippines food ingredients market in 2016. Comparative Landscape in Philippines Food Ingredients Market Philippines food ingredients market is highly concentrated with the presence of manufacturers such as BNC Ingredients Corporation Philippines, TNC Chemicals Philippines Inc, Actron Industries Inc, NECO Chemicals Philippines Inc, Versa Group Philippines Corporation, DU Pont Philippines, New Flavor House Inc, SBS Philippines Corporation, Kerry Food Ingredients Philippines Inc and other players such as Achievers Food & Bakery Ingredients Corp and Applied Food Ingredients. Players operating in the food ingredients market compete on the basis of pricing, brand value, production capacity, domestic manufacturing / import and others. Local tastes and modern interpretations of Filipino dishes has led to growing popularity of Filipino cuisines over the globe, thus, driving the demand for mostly used food ingredients such as food flavors, sweeteners, food colors, preservatives and fragrance. Future Outlook and Projections of Philippines Food Ingredients Market Over the forecast period, Philippines food ingredients market will prepare itself to meet the future demand expected from the substantial investment proposed in key segments such as food flavors and sweeteners. In terms of sales volume, Philippines food ingredients market is evaluated at ~ million tonnes by 2019. Furthermore, increasing usage of food scanners in the Philippines will help to determine ingredients present, and compare the data to a person's lifestyle, dietary choices and genomic background in near future. Food ingredients market in the Philippines is expected to generate revenues worth USD ~ million by the year ending 2021, thus growing at a CAGR of ~% for the projected period 2017-2021. For more information on the research report, refer to below link: https://www.kenresearch.com/ Contact: Ken Research Ankur Gupta, Head Marketing & Communications sales@kenresearch.com +91-124-4230204 End
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