Flavor Enhancer Market Will Reach at $ 12.41 billion by 2030

Flavor Enhancer Market Report Scope -

The SNS Insider report indicates that the Flavor Enhancer Market was valued at USD 8.09 billion in 2022, and it is projected to achieve a market size of USD 12.41 billion by 2030, with a compound annual growth rate (CAGR) of 5.4% expected over the forecast period from 2023 to 2030.

To enhance the flavour of processed foods and beverages, flavour enhancers are chemicals added to processed foods and beverages. One of the major ingredients in the overall food ingredient market is flavor. The main factors that have increased demand for flavour enhancers are modernization and globalization. In the market, one of the major factors driving growth in the flavour enhancers market is that food manufacturers and processed foods need to be able to serve a growing population while consumers are demanding low fat, lowcarbohydrate and low salt diet. The demand for natural flavor enhancers is growing as a result of increased working women and more awareness about artificial flavours in food and beverages.

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Key Players Covered in this market report are:

Cargill Inc.
Givaudan
Tate & Lyle PLC
Sensient Technologies
Mane SA
Associated British Foods Plc.
Danisco A/S
Corbion N.V.
International Flavors & Fragrances Inc. (IFF)
Takasago International Corporation
Firmenich SA
Quest Nutrition LLC

Market Growth Factors -

Due to the high demand for processed foods, there has been a sharp increase in demand for flavour enhancers on the global market. For the food and beverage sector, these additives are applied to produce unique flavour. The demand for flavour enhancers in the market is growing as more and more frozen foods have a variety of flavours that are organically produced. The demand for Natural and Organic Flavor Enhancers is increasing due to the increased awareness of health foods, as well as a sustainable lifestyle. The increased demand for safe flavourings is also due to a number of strict regulations by major authorities.

Segmentation Analysis -

In 2023, the natural products segment accounted for around USD 8.74 billion of revenue on the basis of product. Adjuvants are essential components designed to enhance the performance of pesticides and herbicides. There has been a significant increase in the popularity of naturally occurring flavours deriving from actual foodstuffs such as fruits, vegetables, spices and herbs. As natural flavours are perceived as healthier and more authentic, this shift is largely due to the increasing consumer preference for cleanlabel products. In 2023, the bakery segment accounted for 37.98% of the market share of food flavours and enhancers based on application. As the industry is responding to evolving consumer preferences for new and revitalised beverage options, beverages are a further important part of the market. The addition of flavour plays a key role in attracting consumers across all beverage categories, including Carbonated beverages and Functional drinks.

Flavor Enhancer Market Segmentation as Follows:

By Type
Acidulants
Glutamates
Yeast Extracts
Hydrolyzed Vegetable Proteins
Others

By Application
Processed Convenience Foods
Meat and Fish Products
Beverages
Others

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Key Regional Development -

This market will be dominated by the North American market for flavour enhancers, ready to eat food consumption is increasing due to organized retail in Germany and the United Kingdom and packaged food is expected to fuel regional industry growth. A major factor contributing to market growth in this area is increasing consumer awareness of products with the Cleanlabel label. The second largest market shares are held by the European market for flavour enhancers. There is considerable scope for expansion in this area due to an increase in demand for organic foods, the growing awareness of healthy meals among consumers and rising disposable incomes. In addition, the German market has the largest market share and the UK market is the fastest growing market in the European region for flavour enhancers. From 2023 to 2032, the Asia Pacific Flavor Enhancer market is projected to increase at a faster compounded annual growth rate. Hotpot sauces and Chinese style condiments are the most popular products preferred by Asia Pacific customers. Reduced production costs, wide availability, diverse uses, multi-functional properties are some other factors that support market expansion in the Asia Pacific region.

Key Takeaway's-

The food flavour enhancers market is driven by the need for convenience foods and readyto eat meals. Due to the fact that customers tend to prioritize flavour over quality in their short attention spans, food flavour enhancers are widely used in ready to eat products. The majority of workers prefer convenience foods, and companies are adapting by increasing the production of food flavourings. The food market is also helped by the demand for natural and plant-based flavour enhancers in developed countries.

Recent Developments -

Jan 2023: ChoozIt Vintage was launched in the United States and Canada by International Flavors & Fragrances Inc. In order to overcome the undesirable flavour development during ageing, ChoozIt Vintage may be useful for cheddar cheese manufacturers to achieve a highly consistent pH and texture throughout the ripening process.

Table of Content - Analysis of Key Points

1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession on Major Economies
5. Value Chain Analysis
6. Porter's 5 forces model
7. PEST Analysis
8. Segmentation, By Product Type
9. Flavor Enhancer Market Segmentation, By Type
10. Flavor Enhancer Market Segmentation, By Application
11. Regional Analysis
12. Company Profiles
13. Competitive Landscape
14. Conclusion

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This release was published on openPR.