Flavor Enhancers Market by Type (Acidulants, Glutamates, Hydrolyzed Vegetable Proteins, Yeast Extracts), Application (Processed & Convenience Foods, Beverages, Meat & Fish Products), Form, Source, & Region - Global Forecast to 2022
“The flavor enhancers market is projected to grow at a CAGR of 5.6%.”
The flavor enhancers market is projected to reach USD 8.18 billion by 2022 at a CAGR of 5.6% from 2017 to 2022. The market is driven by factors such as the rising popularity for convenience food & beverages and the increasing consumption of MSG (monosodium glutamates) as prime flavor enhancers. Stringent regulations which include international quality standards for flavor enhancers is the major factor restraining the flavor enhancers market.
“Processed & convenience foods segment led the flavor enhancers market, by application, in 2016”
In the processed & convenience food industry, flavor enhancers are used to increase the palatability of the food items and enhance the taste and aroma of the foods. Flavor enhancers have various applications in the processed & convenience foods, such as soups, sauces, ready meals, and snacks. Monosodium glutamate is the most commonly used flavor enhancers for processed & convenience foods. Moreover, it is widely used in developing regions, such as Asia-Pacific where the market for processed & convenience foods is expected to witness the highest growth, which is further expected to drive the overall flavor enhancers market.
“Asia-Pacific to dominate the flavor enhancers market through 2022”
The market for flavor enhancers in the Asia-Pacific region was the largest, wherein China was the largest country-wise market. The Asia-Pacific region has a large market for fast food & convenience food products. The improved standard of living of the people is contributing heavily to the demand for flavor enhancers by manufacturers. However, the rise in the number of health conscious consumers has offered market potential for yeast extracts to grow in the flavor enhancers market in the region since it can be derived naturally.
The breakdown of the primaries on the basis of company, designation, and region, conducted during the research study, is mentioned as follows:
By Company Type: Tier 1 – 33%, Tier 2 – 44%, and Tier 3 – 23%
By Designation: Director Level – 19%, C Level – 52%, and Others – 29%
By Region: Asia-Pacific – 35%, Europe – 39%, North America – 15%, and RoW – 11%
Key players are as follows:
The global flavor enhancers market is dominated by key players such as Cargill (U.S.), Tate & Lyle PLC (U.K.), Associated British Foods plc (U.S.), Corbion N.V. (Netherlands), Sensient Technologies (U.S.). Other players in the industry include Novozymes A/S (Denmark), E.I. DuPont de Nemours and Company (U.S.), Angel Yeast Co., Ltd (China), Innova Flavors (U.S.), Savoury Systems International, Inc. (U.S.), Senomyx, Inc. (U.S.), and Ajinomoto Co., Inc. (Japan).
Flavor enhancers, on the basis of type, includes acidulants, glutamates, hydrolyzed vegetable protein, yeast extracts, and others (sweetness enhancers and nucleotides). The applications of flavor enhancers studied are processed & convenience foods, beverages, meat & fish products, and others (bakery, dairy, confectionery products, and condiments). On the basis of form, the market is segmented into powder, and liquid & semi-liquid. The major sources considered include natural and synthetic. On the basis of region, the market has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
Reasons to buy this report
From an insight perspective, this research report has focused on various levels of analyses—industry analysis (industry trends) and company profiles, which together comprise and discuss the basic views on the competitive landscape—emerging and high-growth segments of the global Flavor enhancers market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following:
• Market Penetration: Comprehensive information on flavor enhancers offered by top players in the global market.
• Product Development/Innovation: Detailed insights on upcoming equipment products, technologies, research & development activities, and new product launches in the flavor enhancers market.
• Market Development: Comprehensive information about lucrative emerging markets.
• Market Diversification: In-depth information about new products, untapped regions, recent developments, and investments in the global flavor enhancers market.
• Competitive Assessment: In-depth assessment of market share, strategies, products, and manufacturing capabilities of leading players in the global flavor enhancers market.