As per a study by Fact.MR, the global market for flavour enhancers is likely to experience steady growth. In terms of volume, the market is estimated to increase to 4.9% CAGR between 2017 and 2026.
[EUPRwire, Tue Sep 25 2018] Flavors play a fundamental role in packaged food and beverages. Companies operating in the food and beverages industry are focusing on altering the flavors of natural food products such as vegetables and meats to create a flavour for food products that do not have any desired flavors. Artificial flavors are still being used on a large scale to provide a diverse variety of flavors. Meanwhile, artificial flavors also allow people especially suffering from food allergies to consume flavors that they otherwise cannot consume.
With new technologies, the way ingredients are produced is multi-faceted, this has created a confusion on what qualifies an ingredient to be natural. Moreover, definition of natural ingredient also varies from country to country. These factors are making the standardization process more complex and a growing challenge for the food flavoring industry. Meanwhile, food and beverages companies are constantly trying to hold larger share in market through research and development and innovations.
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Herbal flavours including matcha and kombucha are expected to take hold on the market for food flavours in the coming years. Moreover, with increasing consumption of ready to drink beverages, companies are focusing on introducing new flavors showcasing impactful and clean flavour profile.
According to the latest report by Fact.MR, the global flavour enhancers market is expected to witness steady growth during 2017-2026. The market is also projected to expand at a CAGR of 5.4% in terms of value. By the end of 2026, the global flavour enhancers market is projected to reach 3,495 thousand tons in terms of volume.
6 Key Highlights on Global Flavour Enhancers Market
1- North America is expected to be the dominating region in the global flavor enhancers market. In terms of value, North America is projected to surpass US$ 1,300 million revenue by the end of 2026. Presence of manufacturers in the U.S. holding majority of share in food and flavors market are contributing to the growth.
2- Meanwhile, Asia Pacific Excluding Japan (APEJ) and Europe are also expected to witness growth. India and China hold a strong position in the flavor enhancers market. Moreover, South East nations with various flavor preferences present opportunity for key market players.
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3- Glutamates are expected to be the highly preferred product in flavor enhancers market. Towards the end of 2026, glutamates are projected to surpass US$ 2,000 million revenue.
4- Powder form of flavor enhancers are expected to witness the highest growth. Powder form are projected to bring in more than US$ 2,900 million revenue by the end of 2026.
5- Flavor enhancers are expected to be largely used in beverages during the forecast period. By the end of 2026, beverages are projected to reach over US$ 1,200 million revenue.
6- Synthetic source is expected to be largely used in flavor enhancers. Synthetic source is anticipated to create an incremental opportunity of more than US$ 1,300 million during 2017-2026.
The report also comprises profiles of the leading companies in the global market for flavour enhancers, which will operate through 2026. These include companies such as Cargill, Tate & Lyle PLC, Associated British Foods plc, Corbion N.V., Sensient Technologies, Firmenich SA, Givaudan, Takasago International Corporation, Mane SA, IFF, Stymies AG, Quest, Takasago, and Danisco.
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