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Global Food Flavor Enhancer Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024
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Global Food Flavor Enhancer Production Market Was 4.39 Million Tons In 2018
Food Flavor Enhancers are used in foods to enhance the existing flavor in the food. The common food flavor enhancers include Monosodium Glutamate (MSG), L-alanine, Hydrolyzed Vegetable Proteins (HVP) and Yeast Extract.
The global food flavor enhancer production market was 4.39 million tons in 2018 and is expected to grow at a CAGR of 4.88% from 2018 to 2025. The global food flavor enhancer market was valued at USD 8.27 billion in 2018 and is expected to reach USD11.9 billion by 2025.
The technical barriers of low end food flavor enhancer are relatively low, resulting in numerous manufacturing enterprises. However, in the market, there are some large enterprises (especially in MSG market), such as Fufeng, Meihua, Ajinomoto Group, Eppen, Lianhua Shandong Qilu Bio-Technology Group, Angel Yeast, Biospringer, Ohly, DSM, Innova. And their plants mainly distribute in Asia. Asia is the largest producer, more than 80% production share in 2018 because of large capacity and consumption of MSG in Asia regions.
Food flavor enhancers have a wide range of applications used in food processing industry, home cooking, restaurants, and other food consumption. With the increasing of global population and dispensable income, growing demand for food has driven the growth of global food flavor enhancer market. The demand for food flavor enhancer is expected to continue increasing during the remaining years of the forecast period of 2018-2025. Food flavor enhancer industry will usher in a stable growth space.
In the past few years, the price of food flavor enhancer has raised due to increasing cost of raw material. It is forecasted the price will slightly lower with cost adjustment in the industry. However, the improvement of energy, transportation costs, employee wages, and equipment depreciation will play a significant role in promoting the cost of food flavor enhancer.
As the same time, companies are focusing on technological innovation, equipment upgrades, and process improvements, to reduce costs and improve quality. Also supply of advanced flavor players like I+G would play growing important role in the industry. With the snatch for market share in emerging regions, the competition in food flavor enhancer industry will become more intense.
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