Global Flavor Enhancer Market was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2026, at CAGR of 6.1% during forecast period.
Food and beverages industry is using a variety of flavors and is also progressively investing in the research and development of new flavors. Additionally, exotic fruits and vegetables, as well as ethnic flavors are gaining popularity across the world. Floral flavors continue to show exciting growth in the market. Exotic spices are also being used in the food processing industry to add some spicy touch to the food along with beverages. Customers are looking for sports nutrition products. In wide sports nutrition product range, chocolate, strawberry, and vanilla are the flavors that are in demand in the market.
The increasing food service providers like food chains and restaurants are also fueling the demand for flavor enhancers. The growing popularity of Asian cuisines in western countries is also driving the demand for flavor enhancer among foodservice providers. However, growing awareness regarding harmful effects of synthetic flavors is driving the demand for natural flavors. Also, regulatory bodies across the globe are banning the use of artificial flavors.
Glutamates segment is expected to account for high growth in terms of revenue during the forecast period. Glutamates are projected to reach over 1,800 thousand tons in terms of volume. Glutamate offers a unique taste to foods and enhances the flavor of food. Also, glutamate is used in many cuisines as it provides umami (savory) taste in various foods.
North America market is expected to register for the highest market share and is expected to drive growth during the forecast period. Growing consumption of frozen meat & fish, rapid urbanization, changing lifestyle, and higher disposable income, especially in the U.S, are factors expected to drive the growth of the target market in North America. However, the APAC market is estimated to witness the highest growth in the near future. Rising modernization is a factor fueling the growth of the target market in the APAC region. Europe also accounts foremost share in terms of revenue.
Prominent Market Developments: Ajinomoto plans to target the European market (UK, Germany, and France) for its expansion and growing sales outside the domestic market
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Global Flavor Enhancer Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in Global Flavor Enhancer Market.
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Scope of the Global Flavor Enhancer Market
Global Flavor Enhancer Market, by Nature
• Natural
• Artificial
Global Flavor Enhancer Market, by Type
• Yeast Extracts
• Acidulants
• Glutamates
• Others
Global Flavor Enhancer Market, by End-Use
• Food and beverage industry
• Bakery
• Confectionaries
• Soups and Salads
• Others
Global Flavor Enhancer Market, by Distribution Channel
• Processed & Convenience Foods
• Beverages
• Meat & Fish Products
• Others
Global Flavor Enhancer Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Key Players operating in Global Flavor Enhancer Market
• Cargill
• Tate & Lyle PLC
• Associated British Foods PLC
• Corbion N.V.
• Sensient Technologies Corporation
• Novozymes A/S
• E.I. Dupont De Nemours and Company
• Angel Yeast Co., Ltd.
• Innova Flavors
• Savoury Systems International, Inc.
• Senomyx, Inc.
• Ajinomoto Co, Inc.
• Givaudan
• Firmenich
• International Fragrance and Flavours, Inc.(IFF)
• Flavaroma
• Dohler
• Archer Daniels Midland
• Kerry Group
• BASF SE
• D.D. Williamson & Co Inc.
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