The global Flavour Enhancer Market is forecast to grow at a CAGR from 4.5% to 5.5% during the forecast period 2019 to 2024.
Flavour enhancers are used to bring out the flavour in a wide range of foods without adding a flavour of their own. They are used in savoury foods to enhance the existing flavour in the food and are primary elements in the food and beverage industry. Food flavour enhancers are commercially produced in the form of instant soups, frozen dinners and snack foods. Food and beverages industry is using a variety of flavours and is also increasingly investing in the research and development of new flavours.
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Key driving factors and restraints of Global flavour enhancer market:
This market is predicted to boost due to changing lifestyle of the people, globalization and modernization. Moreover, increased consumption of convenience food and development of innovative natural flavour products are supporting the growth of global flavour enhancer market. Nowadays, consumer demand for low-salt, low-fat and low-carbohydrate diet has led to an increased demand for new flavours and enhancers. Hence, the manufacturers are constantly innovating their products through research and development, to meet the changing consumer demand. MSG is recognized as the ‘Chinese restaurant syndrome’ in the United States, due to its ill-effects on health, which hinders the market growth in the matured regions, such as the United States and Europe.
Global flavour enhancer market, by type:
Acidulants, glutamates, hydrolysed vegetable proteins, yeast extracts and others. Glutamate is projected to be the fastest-growing segment in the flavour enhancers during the forecast period. The market growth is supported by various growth drivers, such as glutamates are synthetically produced and are cheap as compared to other types of flavour enhancers, such as acidulants, yeast extracts, and hydrolysed vegetable protein.
Global flavour enhancer market, Based on form,
Powder and liquid. Powdered flavour enhancers account for the largest market share in 2016. Powdered form is most commonly used by manufacturers as it is easier to use as compared to liquid form.
Global flavour enhancer market, by application,
Processed & convenience foods, beverages, meat & fish products and others. Amongst all major application, processed & convenience foods segment accounted for the highest market share in 2016.
Global flavour enhancer market, Based on source,
Natural and synthetic. The synthetic flavour enhancer source accounted for the highest market share during the forecast period followed by natural flavour enhancers.
Global flavour enhancer market, by geography,
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Currently, North America dominating the flavour enhancers market in terms of both value and volume. Factor such as growing demand for convenience & processed food products due to the westernization of food habits, drives the flavour enhancer market in Europe and North America. However, Asia Pacific excluding Japan is expected to record highest growth rate among all the regions during the forecast period.
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Global flavour enhancer market, Key participants and strategies of flavour enhancer market:
Some of the major key participants operating in the global flavour enhancer market are Novozymes A/S, Carbion N. V, Givaudan, Firmenich SA, Ajinomoto Co, Inc, Associated British Foods PLC, Angel Yeast Co., Ltd., Savoury Systems International, Inc, Tate & Lyle PLC, Synergy Flavors, etc. Key companies are now, more focused on formulating latest sales strategies to establish their innovative products in the market. Value addition in the distribution and sales stage varies with key players, addressable markets, manufacturing units, and end consumers.