The global Flavor Enhancer Market is estimated to be valued at US$ 3.66 Bn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Flavor enhancers are food additives that enhance the basic flavors in food without imparting characteristic flavors of their own. They bring out natural flavors present in food and make them taste stronger so that less of the original, flavorful ingredients like meat or vegetables may be needed. This results in salt and fat reduction in processed foods.
Market key trends:
One of the key trends in the flavor enhancer market size is the rising demand for clean label and all-natural ingredients. Consumers are increasingly demanding products with simple and recognizable ingredients over complex chemical-sounding ingredients. This has prompted flavor companies to develop new plant-based flavor enhancers derived from natural sources like fruits and vegetables to meet the clean label demand. For example,Corbion N.V has developed Purimas, a natural flavor enhancer made from fermented corn extract that boosts umami taste.
SWOT Analysis
Strength: Flavor enhancers can enhance a product’s natural flavors without adding excess calories. They allow manufacturers to use less expensive ingredients while maintaining taste.
Weakness: Excessive consumption of flavor enhancers has been linked to increased health risks like obesity and cardiovascular diseases. They are also considered artificial and non-natural by health conscious consumers.
Opportunity: Growing health awareness is driving demand for clean label and natural products. This provides an opportunity for natural flavor enhancer brands to capture market share. Expanding food and beverage industry worldwide also increases demand.
Threats: Stringent regulations around usage levels of flavor enhancers. Growing adoption of vegan and organic lifestyles also threatens demand for artificial enhancers.
Key Takeaways
The global flavor enhancer market is expected to witness high growth, exhibiting CAGR of 5.2% over the forecast period, due to increasing demand for processed and packaged food and beverages. Flavor enhancers help manufacturers achieve desired flavors with minimal ingredients.
Regional analysis: North America dominates the global market currently due to large food and beverage industry and healthy lifestyle trends. Asia Pacific is expected to be the fastest growing market owing to rising incomes, expanding middle class population and their willingness to pay for enhanced food experiences. Countries like China, India and Japan will be key markets.
Key players operating in the flavor enhancer market are 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. Leading players are investing in product innovation and market expansion strategies to strengthen their global foothold.
