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"The food flavors market is projected to grow at a CAGR of 5.3% from 2013 to 2018,” notes a Markets & Markets report (www.marketsandmarkets.com).
This growth is driven by natural flavors, as well as expansion in Asia-Pacific.
Meanwhile, the industry’s customers in the food and beverage world are addressing increasing pressures. As product lifecycle management consultancy Technia (www.technia.com) notes, food and beverage companies are facing: diminishing brand loyalty; increasing government regulations; shorter product lifecycles; and falling price margins.
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