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Flavor Enhancers Market

Flavour Enhancers from Natural Sources to Dominate, Surging at a CAGR of 6% through 2031: Fact.MR

Published : 01 Nov 2021 Industry: Food & Beverage

Newly published intelligence by Fact.MR states that the global market for flavour enhancers is likely to reach US$ 5.4 Bn, registering a CAGR of 5% throughout the assessment period 2021-2031. As consumers increasingly experiment with multiple food formulations, sales of natural and synthetic flavour enhancers are experiencing noteworthy uptake.

The market experienced steady growth from 2016 to 2020, clocking a CAGR worth 4%. As the novel coronavirus pandemic unfurled, consumers began relying less on synthetically manufactured foodstuffs, thereby broadening scope for naturally sourced ingredients, impelling sales of natural flavour enhancers. As of 2021, the flavour enhancers industry is slated to be valued at over US$ 3 Bn.

As for flavor enhancers, herbs and spices have traditionally been used as well as antimicrobial agents that prolong the shelf life of food products. MSG (monosodium glutamate) is a flavour enhancer that enhances the flavors in food. To enhance the savoury flavor of commercially produced food items such as frozen dinners, instant soups, and snack foods, these agents are frequently added to these food items.

Key Takeaways from the Market Study

  • Powdered flavor enhancers to remain top selling, surpassing US$ 3 Bn by 2031
  • U.S to emerge as the dominant flavour enhancers market, capturing 55% revenue
  • Flavor enhancers containing glutamates are expected to dominate the market, contributing US$ 2 Bn by 2031
  • Beverages to account for a significant share of flavour enhancers demand, surpassing US$ 1 Bn
  • Natural flavour enhancers demand to rise, registering a 6% CAGR
  • Meat & fish products to account for 45% of flavour enhancers market demand
  • China & U.K to collectively generate a revenue share worth 55% until 2031

“Mounting food safety concerns, coupled with increased awareness about consuming ultra-processed foods is prompting food manufacturers to incorporate more naturally sourced flavour enhancers, expected to yield massive opportunity pools in the future,” says a Fact.MR analyst

Competitive Landscape

Strategic collaborations enable manufacturers to increase production and meet consumer demand which will increase revenue and market share. New products and technologies will enable end-users to benefit from products that are organic by nature. The result of a strategic collaboration can help the company to increase its production capacity.

  • In July 2021, Sensient Technologies acquired assets of Flavour Solutions, Inc. With this acquisition, Sensient Technologies will be able to expand its flavour enhancer business in the market, also helping the former mprove its key technologies, which will help the company to better serve consumers in the future.
  • In February 2021, Tate & Lyle PLC fully acquired 85% ownership of Chaodee Modified Starch Co. Ltd., enabling it to extend its business in the tapioca-based business in Thailand. The initiative will enable the company to cater to consumer demand for clean-label foods. This also signals the company’s expansion across the Asia Pacific.

More Insights Available

Fact.MR's, in its new offering, presents an unbiased analysis of the flavour enhancers market, presenting historical demand data (2016-2020) and forecast statistics from 2021 to 2031.

The study divulges essential insights on the market based on product type (acidulants, glutamates, hydrolyzed vegetable proteins and yeast extracts), form (powder and liquid), application (convenience foods, beverages, meat & fish products, bakery products, dairy products, confectionery products and other applications), and source (natural and synthetic) across seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa).

Fact.MR’s Domain Knowledge in Food & Beverages

Our food and beverages consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the food & beverage sector. Our expertise in recognizing the challenges and trends impacting the global food and beverages industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.

For more information, refer to our market research report or contact the PR author.

Santosh Kumar

Fact.MR

Sr. Consultant – Food and Beverages

E-mail: santosh@factmr.com

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Flavor Enhancers Market

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Flavor Enhancers Market Report By Product Type (Acidulants, Glutamates, Yeast Extracts), By Form (Powdered, Liquid), By Application (Convenience Foods, Beverage, Meat & Fish Products, Bakery Products, Dairy Products), By Source (Natural, Synthetic) - Regional Forecast 2021-2031