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Flavour Enhancers Market to Witness Increase in Revenues by 2017 to 2026 | Key Players are Takasago, Stymies AG, IFF, Mane SA, etc.
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Food and beverages industry is using a variety of flavours and is also increasingly investing in the research and development of new flavours. Moreover, exotic fruits and vegetables, as well as ethnic flavours are gaining popularity across the globe. Floral flavours continue to show impressive growth in the market. Exotic spices are also being used in food processing industry to add some spicy touch to the food as well as beverages. Consumers are looking for sports nutrition products. In extensive sports nutrition product range, chocolate, strawberry, and vanilla are the flavours that are in demand in the market. The trend of sample testing is also gaining traction in the market. Before introducing a product with new flavours, companies in the food and beverages industry are offering sample testing in order to test consumer acceptance of a new flavour. However, increasing awareness regarding harmful effects of synthetic flavours is driving the demand for natural flavours. Also, regulatory bodies across the globe are banning the use of artificial flavours.
As per a study by FactMR, the global market for flavour enhancers is likely to experience steady growth. In terms of volume, the market is estimated to increase to 4.9% CAGR between 2017 and 2026. The global market for flavour enhancers is also estimated to bring in US$ 4,338.5 million revenue towards 2026 end.
Among various product type in the global market for flavour enhancers, glutamates are likely to emerge as the top-selling product. By 2026 end, glutamates are estimated reach over 1,800 thousand tons in terms of volume. Glutamate provides unique taste to foods and enhances the flavor of food. Moreover, glutamate is used in many cuisines as it provides umami (savory) taste in various foods. Compared to the liquid form of flavour enhancers, powers form is likely to witness significant growth. Flavour enhancers in powder form are estimated to exceed US$ 2,900 million revenue by 2026 end. Flavour enhancers in powdered form are easy to use as compared to the liquid form. Moreover, powdered form of flavour enhancers are being used on a large scale in bakery products. Technological advancement is leading to the increased use of powder form of flavour enhancers as dosing is also easy.
Beverages are likely to account for the largest application of flavour enhancers between 2017 and 2026. Beverages are estimated to reach close to US$ 1,300 million revenue towards 2026 end. Manufacturers in food and beverages industry are focusing on producing new beverages with unique flavours. Moreover, flavour enhancers help beverage companies to reformulate products, maintaining the taste of the product.
Compared to the natural source, synthetic source is likely to be used on a large scale in flavour enhancers. By 2026 end, synthetic source is estimated to exceed US$ 3,400 million revenue. Manufacturers are using synthetic source to produce flavour enhancers because the massive quantity of natural resources are needed to extract flavours. Moreover, people suffering from various food allergies is also driving manufacturers to use synthetic flavours.
The report also profiles companies that are expected to remain active in the expansion of global flavour enhancers market through 2026, which include Danisco, Takasago, Quest, Stymies AG, IFF, Mane SA, Takasago International Corporation, Givaudan, Firmenich SA, Sensient Technologies, Corbion N.V., Associated British Foods plc., Tate & Lyle PLC, and Cargill.
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