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Flavor Enhancer Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type, by Application : Global Opportunity Analysis and Industry Forecast, 2024-2032

Flavor Enhancer Market Size, Share, Competitive Landscape and Trend Analysis...

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Flavor Enhancer Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type, by Application : Global Opportunity Analysis and Industry Forecast, 2024-2032
Flavor Enhancer Market Size, Share,...
Report Code
RO7/128/1082

Publish Date
12/Jul/2024

Pages
200
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The global flavor enhancer market revenue was around US$ 12 billion in 2023 and is estimated to reach US$ 19 billion by 2032, growing at a compound annual growth rate (CAGR) of 5.7% during the forecast period from 2024 to 2032.
Food flavor enhancers are ingredients added to food to intensify or improve its flavor. They are widely used in cooking and food processing to improve the taste of various dishes and products. Depending on the manufacturing process flavours are divided into two major groups; natural and artificial flavours.
Factors Influencing Market Growth
- The increasing interest in quick service and fast casual restaurants featuring diverse menus has resulted in a growth of the flavor enhancer market globally.
- The increasing demand for flavor enhancers market is attributed to the growing production of processed meals, snacks, sauces, and spices. This trend is driven by the desire of manufacturers to ensure consistent and appealing flavors across their product range.
- Rising personal disposable income and growing demand for low-fat, low-salt, and low-carbohydrate foods are the major factors fostering the growth of the market.
- The market may face challenges due to health concerns associated with high consumption of food items containing alternative sweeteners, such as high blood pressure and allergies.
COVID-19 Impact Analysis
The COVID-19 outbreak led to partial or complete lockdowns around the world, resulting in a significant drop in the demand for food flavor enhancers from the commercial segment which is a major contributor to market demand. The pandemic led to disruptions in the supply of raw materials necessary for flavor enhancers, due to lockdowns, labor shortages, and transportation challenges.
Regional Analysis
Asia-Pacific dominated the market, accounting for the highest share over the projection period. The Asia-Pacific region, particularly China and India, has a large and increasing population. Consumption of processed and convenient meals has increased in these countries due to urbanization and the development of the middle class, increasing demand for flavor enhancers. Consumption habits are shifting toward processed and convenience foods as wages rise and lifestyles become busier. The Asia-Pacific area has generated a favorable flavor enhancers market as customers want quick and uncomplicated meals.
Leading Companies
- Angel Yeast Co. Ltd
- Kerry Group plc
- Meihua Holdings Group Co. Ltd
- Ajinomoto Co. Inc.
- DSM-Firmenich AG
- Other Prominent Players
Segmentation Outline
The global flavor enhancer market segmentation focuses on Type, Application, and Region.
Segmentation based on Type
- Acidulants
- Glutamates
- Hydrolyzed Vegetable Proteins
- Yeast Extracts
- Others
Segmentation Based on Application
- Processed Convenience Foods
- Beverages
- Meat and Fish Products
- Others
Segmentation based on region
- North America?
o The U.S.
o Canada
- Europe?
o UK
o Germany
o France
o Italy
o Spain
o Netherlands
o Rest of Europe
- Asia-Pacific
o China
o Japan
o India
o Australia
o South Korea
o Singapore
o Rest Of Asia-Pacific
- LAMEA?
o Latin America
o Middle East
o Africa

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