Asia-Pacific Food Flavor Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Asia-Pacific Food Flavor Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Asia-Pacific Food Flavor Market is projected to grow at a CAGR of 5.6% during the forecast period 2020-2025.

Key Highlights

• In developing countries in the region, consumers are looking for fine dining and restaurant-like experience at their homes. This factor is driving the market growth of premium products of sauces & seasonings by evoking a sense of flavor authenticity.
• This shift can be attributed to several factors, which include, urbanization, growing population of working-women, and increasing household incomes. This market holds a great potential for growth among processed food manufacturers and the food flavor suppliers.

Key Market TrendsNatural Flavors Has An Increased Demand In The Market

Natural flavors are substances that are extracted from plants, herbs and spices, fruits, vegetables or microbial fermentations. The increasing interest towards the nutritionally enriched and natural products have promoted the demand for natural flavors in the market. Natural herbs and spices were earlier used only in domestic cooking for flavors, which is now used at an industrial level by various players. Various countries have their own special authentic flavors, for instance, Thai cuisine has a variety of ingredients such as galangal, chili oil, peanuts, coconut paste, fish sauce, etc. The increasing demand for exotic flavors are also driving the market. Rosemary extracts have a growing demand in the market for its antioxidant property.

India Is The Fastest Growing Market In The Region

India stands as the fastest growing market in the region. Consumers are not willing to compromise on the taste and health factors of the food. The demand for new and foreign flavors are increasing in the market which compels the players to come up with innovative and healthy flavors. The Indian subcontinent has a huge demand for regional and traditional flavors. Natural flavors as well as synthetic flavors are having equal importance in the market. Dairy industry has growing application of flavors, this is attributed by the increasing demand for flavored milk especially in the urban areas.

Competitive Landscape

The food flavor market in Asia-Pacific is consolidated. Kerry Group, Cargill Inc., Koninklijke DSM N.V., and BASF are few key players present in the market. Major companies are adopting strategies, such as introducing clean label and organic flavor ranges, and acquiring and partnering with local players to increase market penetration in the untapped markets.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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