Rockville , July 24, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the global Flavor Enhancers market is projected to rise from a valuation of US$ 3.66 billion in 2023 to US$ 6.08 billion at a CAGR of 5.2% by 2033.
Ingredients that intensify or enhance a food's flavour are known as flavour enhancers. They are frequently employed in the food industry and can be found in a wide range of foods, including convenience and processed foods, drinks, meat, fish, and other foods.
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A surge in the consumption of low-fat, low-sodium, and low-carbohydrate meals, where flavour enhancers are employed to enhance the flavour of these foods, has boosted the need for flavour enhancers. Natural flavour enhancers have created new market expansion opportunities.
Report Attributes | Details |
| Forecast Period | 2023 - 2033 |
| Value Projection (2033) | US$ 6.08 Billion |
| Growth Rate (2023-2033) | 5.2% CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 76 Tables |
| No. of Figures | 141 Figures |
Key Driving Forces Accelerating the Market Growth
- The rise in urbanization, busy lifestyles, and a growing number of working individuals have led to an increased demand for processed and convenience foods. Flavor enhancers play a crucial role in enhancing the taste of these products and making them more appealing to consumers.
- North American consumers have become more adventurous with their food choices, seeking unique and exotic flavors. Flavor enhancers offer a convenient way for food manufacturers to meet these evolving preferences and cater to diverse taste preferences.
- Demand for flavor enhancers in the US is expected to witness a CAGR of 4.9% during the forecast period.
- Continuous innovations and advancements in food processing technologies have allowed manufacturers to develop new and improved flavor enhancers, enhancing the overall sensory experience of food products.
- The expansion of the food service industry, including restaurants, cafes, and other dining outlets, has led to higher demand for flavor enhancers to elevate the taste and quality of their menu offerings.
Vital indicators shaping future of the industry
The growing focus on health and wellness among consumers is expected to influence the demand for flavor enhancers. Consumers are increasingly seeking healthier and natural alternatives in their food products, leading to rising demand for clean-label and natural flavor enhancers.
Consumers are becoming more conscious about the ingredients used in their food products. As a result, there is a growing demand for flavor enhancers made from natural ingredients and without artificial additives or preservatives.
Changes in regulations and guidelines pertaining to food additives and flavor enhancers can significantly impact the market. Stricter regulations or bans on certain synthetic additives may drive the demand for natural flavor enhancers.
Sustainability practices and environmental awareness are becoming increasingly important in the food industry. Flavor enhancer manufacturers are expected to align with these trends by developing sustainable sourcing practices and eco-friendly packaging.
Key Companies Profiled in This Report
- Cargill Inc.
- Tate & Lyle PLC
- Corbion N.V.
- Firmenich SA
- Sensient Technologies
- Associated British Foods Plc.
- Givaudan
- Takasago International Corporation
- Mane SA
- International Flavors & Fragrances Inc. (IFF)
- Quest Nutrition LLC
- Danisco A/S
Challenges hindering the market growth
The use of certain synthetic flavor enhancers has raised health and safety concerns among consumers and regulatory authorities. Some additives, such as monosodium glutamate (MSG), have been linked to adverse reactions in sensitive individuals, leading to a negative perception of flavor enhancers.
Consumers are increasingly seeking natural and clean-label food products, leading to a preference for flavor enhancers made from natural ingredients and free from artificial additives. This demand shift can pose challenges for manufacturers using synthetic ingredients.
Flavor enhancer manufacturers must adhere to strict regulations and guidelines set by food safety and regulatory authorities. Compliance with these standards can be complex and costly, especially for companies using synthetic ingredients with specific usage limitations.
How competition influences the market
The intense competition encourages flavor enhancer manufacturers to invest in research and development to create new and innovative products. Companies strive to differentiate themselves by offering unique flavors, improved formulations, and value-added features to attract customers.
To stay ahead in the competitive landscape, companies must maintain high-quality standards for their flavor enhancer products. Ensuring consistent quality and safety helps build trust and loyalty among customers.
- In 2022, International Trade Solutions launched a line of powdered natural flavor enhancers called Vegan Boosts. Companies also use flavor enhancers to improve the sensory quality of bakery goods.
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Key Segments of Flavor Enhancers Industry Research Report
- By Product Type:
- Acidulants
- Glutamates
- Hydrolyzed Vegetable Proteins
- Yeast Extracts
- By Form:
- Powder
- Liquid
- By Source:
- Natural
- Synthetic
- By Application:
- Convenience Foods
- Beverages
- Meat & Fish Products
- Bakery Products
- Dairy Products
- Confectionery Products
- Others
- By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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