Global Food Flavor and Enhancer Market - Growth, Trends, and Forecast (2022 - 2030)
Market Insights
With the robust growth in the processed food industry coupled with the food service giants, the food flavor and enhancer market is expected to register a CAGR of 3.8% for the forecast period 2018-2023.
Food flavors and enhancers are the primary building blocks in the food and beverage industry. In this highly competitive market, the growth in innovative products can be attributed to the growth of food flavors and enhancers. The important trigger to these innovations is the region-wise and country-specific adoption of flavors & flavor enhancers by manufacturers.
Market Dynamics
The changing lifestyle of people has also impacted their food habits. Earlier, natural herbs and spices were used in home cooking to get a tinge of flavor in the food, which eventually turned into an industrial need to cater to the big food processors. Owing to the increase in working women population there is a need in the market for processed foods, impelling food manufacturers to cater to the growing population resulting in the use of several flavors and enhancers.
The consumers preference for a low-salt, low-fat and low-carbohydrate diet is also a key driver in the increase of consumption of flavors and enhancers. Consumer demand for fresh, fast, and healthy food that is driving the innovation and new food and flavor product development. The market for flavors and flavor enhancers perceived as natural is fast growing, especially amongst the developed markets of North America and Europe.
Market Segmentation
The global market for food flavor and enhancer is segmented on the basis of product type, application and geography. By type, the artificial flavors are expected to witness a fall in the market due to consumer preference for natural flavors. However, monosodium glutamate holds the major share, more than the natural flavors. The major constraint in the natural flavors industry is the need for large amounts of natural resources to extract flavors and enhancers according to consumer preference.
The major global manufacturing hubs are North America and Europe, which hold a large share in the food flavor and enhancer market. These regions are followed by Asia-Pacific, South America, and Africa. Snack and confectionary is leading the market in consumption in Europe, since a few years, followed by bakery items and meat. The European market is a mature market and has several bodies that stringently regulate the use of food flavors and enhancers, keeping the consumers health in mind.
Key Developments
• JULY 2017- PureCircle, the leading producer of the world and innovator of great-tasting stevia sweeteners for the global beverage and food industry launched new stevia leaf-based flavor enhancers in vanilla and cocoa flavors, enabling companies to produce products at a manageable price point.
Competitive landscape
Major Players - ARCHER DANIELS MIDLAND (ADM), BASF, CARGILL INC., CORBION PURAC, DUPONT- DANISCO, FMC CORPORATION, GIVAUDAN, INTERNATIONAL FRAGRANCE AND FLAVORS, INC. (IFF), KERRY GROUP and SENSIENT, among others.
Reasons to Purchase this Report
• Analyzing outlook of the market with the recent trends and Porters five forces analysis
• Market dynamics which essentially consider the factors which are impelling the present market scenario along with growth opportunities of the market in the years to come
• Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
• Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
• Competitive landscape involving the market share of major players along with the key strategies adopted for development in the past five years
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis and strategies employed by the major market players
• 3 months analyst support along with the Market Estimate sheet in excel.
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.
With the robust growth in the processed food industry coupled with the food service giants, the food flavor and enhancer market is expected to register a CAGR of 3.8% for the forecast period 2018-2023.
Food flavors and enhancers are the primary building blocks in the food and beverage industry. In this highly competitive market, the growth in innovative products can be attributed to the growth of food flavors and enhancers. The important trigger to these innovations is the region-wise and country-specific adoption of flavors & flavor enhancers by manufacturers.
Market Dynamics
The changing lifestyle of people has also impacted their food habits. Earlier, natural herbs and spices were used in home cooking to get a tinge of flavor in the food, which eventually turned into an industrial need to cater to the big food processors. Owing to the increase in working women population there is a need in the market for processed foods, impelling food manufacturers to cater to the growing population resulting in the use of several flavors and enhancers.
The consumers preference for a low-salt, low-fat and low-carbohydrate diet is also a key driver in the increase of consumption of flavors and enhancers. Consumer demand for fresh, fast, and healthy food that is driving the innovation and new food and flavor product development. The market for flavors and flavor enhancers perceived as natural is fast growing, especially amongst the developed markets of North America and Europe.
Market Segmentation
The global market for food flavor and enhancer is segmented on the basis of product type, application and geography. By type, the artificial flavors are expected to witness a fall in the market due to consumer preference for natural flavors. However, monosodium glutamate holds the major share, more than the natural flavors. The major constraint in the natural flavors industry is the need for large amounts of natural resources to extract flavors and enhancers according to consumer preference.
The major global manufacturing hubs are North America and Europe, which hold a large share in the food flavor and enhancer market. These regions are followed by Asia-Pacific, South America, and Africa. Snack and confectionary is leading the market in consumption in Europe, since a few years, followed by bakery items and meat. The European market is a mature market and has several bodies that stringently regulate the use of food flavors and enhancers, keeping the consumers health in mind.
Key Developments
• JULY 2017- PureCircle, the leading producer of the world and innovator of great-tasting stevia sweeteners for the global beverage and food industry launched new stevia leaf-based flavor enhancers in vanilla and cocoa flavors, enabling companies to produce products at a manageable price point.
Competitive landscape
Major Players - ARCHER DANIELS MIDLAND (ADM), BASF, CARGILL INC., CORBION PURAC, DUPONT- DANISCO, FMC CORPORATION, GIVAUDAN, INTERNATIONAL FRAGRANCE AND FLAVORS, INC. (IFF), KERRY GROUP and SENSIENT, among others.
Reasons to Purchase this Report
• Analyzing outlook of the market with the recent trends and Porters five forces analysis
• Market dynamics which essentially consider the factors which are impelling the present market scenario along with growth opportunities of the market in the years to come
• Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
• Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
• Competitive landscape involving the market share of major players along with the key strategies adopted for development in the past five years
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis and strategies employed by the major market players
• 3 months analyst support along with the Market Estimate sheet in excel.
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
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