Flavor Enhancer Market With Top Suppliers, Business Development Market and Regional Forecast

Comments · 73 Views

Flavor enhancers are referred to as food additives that is used for improving the food taste and for making it more sensory.

Flavor enhancers are referred to as food additives that is used for improving the food taste and for making it more sensory. Flavor enhancers are of two types in the market, one is natural while the other being artificial. The global flavor enhancer market is slated to garner increasing growth during the forecast period as per the latest report released by Market Research Future (MRFR).

Slow and steady growth of the food and beverages industry is one of the key drivers of the global flavor enhancers market. The changing and evolving consumer lifestyle and shifting inclination towards traditional food items are some of the other factors influencing the growth of the market. Nowadays, consumers want their foods to have sensory effects. This is causing manufacturers to add flavor enhancers across various food items o products, thereby increasing its applications and subsequently the share of the market. However, strict regulations and laws applied upon the application and usage of these flavors in the FB industry can hamper the growth of the market.

Market Segmentation

The global flavor enhancer market segmentation is divided on the basis of ingredients, flavor enhancer type, form, and application.

By flavor enhancer, the market includes natural and artificial enhancer types. The natural flavor enhancer segment is gaining increasing traction among the consumers as compared to the artificial flavor enhancer types. The side effects pertaining to the consumption of artificial flavors is a major cause behind the dominance of the natural flavor enhancer segment.

By ingredients, the market includes yeast extract, glutamate, hydrolyzed vegetable proteins, acidulant, and others. Among the mentioned ingredient types, the glutamate segment holds the highest share in the market and is expected to hold on to its position in the forthcoming years. However, at the same time, the yeast extract segment is anticipated to grow significantly during the forecast period.

By application, the market segments into snacks, bakery confectionery, meat products, beverages, dairy frozen desserts, and others. Herein, the bakery confectionery segment holds the upper hand with the highest share and is followed up by the beverage industry. Applications in the bakery confectionery segment is expected to grow further in the forthcoming years.

Regional Analysis

The global flavor enhancer market is geographically segmented to understand the regional growth and diversification. According to the report released by MRFR, the market regionally covers the European, North American, Asia Pacific, and the Rest of the World (RoW) regions.

The North American region is the dominant player among the mentioned regions in the global flavor enhancer market. The region is most likely expected to stand tall during the forecast period and strengthen its position at the top of the global rankings. The region is witnessing high consumption of the product and is thereby anticipated to break past its previous revenue generation numbers by the end of the forecast period in 2023. Herein, factors like the presence of vast pool of large food enthusiasts connoisseurs and high disposal income are expected to push the growth of the market positively.

The European region holds the second largest share in the global market of flavor enhancers. The region is growing massively due to the contributions of countries like the UK, Germany, Italy, and France. The high per capita income alongside the continuous research and development efforts conducted herein are major drivers of the region. However, there are numerous regulatory bodies in Europe that are banning the usage of these artificial food enhancers and flavors. This is causing the market in Europe to deteriorate.

Asia Pacific is expected to be one of the key regions globally with the projection of being the fastest growing region. Both India and China contribute significantly to the region’s dominance due to the resurging economy therein. Increasing innovation and technological adoption is a key factor driving the growth of the Rest of the World region. The market is expected to hold a decent share in the global standings.

Competitive Landscape

Cargill Inc. (U.S.), Corbion N.V. (The Netherlands), Ajinomoto Co, Inc. (Japan), Tate Lyle PLC (U.K.), DuPont Nutrition Health (U.S.), Innova Flavors (U.S.), and Sensient Technologies (U.S.) are some of the leading players reported to be in the global flavor enhancer market by MRFR.

October 2018, it was announced that Senomyx, a San Diego-based biotech manufacturer of flavor enhancers with over two decades of history, will be part of Firmenich, a privately held Swiss-based fragrance and flavor organization.

NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.

Comments