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(MoneyNewsWire.Net, April 11, 2018 ) The global flavor enhancers market witnessed steady growth in the last few years. The market size is projected to reach USD 8.18 Billion by 2022, at a CAGR of around 5.6% from 2017 to 2022. Increasing demand for convenience food & beverage products and rise in consumption of monosodium glutamate are the major driving factors of this market.
The flavor enhancers market, by type, is segmented into acidulants, glutamates, hydrolyzed vegetable protein, yeast extracts, and others (sweetness enhancers and nucleotides). Glutamates are largely used as flavor enhancers to enhance the umami taste in foods. Monosodium glutamate (MSG) is the most widely used glutamate in meat products and savory foods. The market was followed by acidulants in terms of market size in 2016.
By form, the market has been segmented on the basis of powder and liquid & semi-liquid. Powdered flavor enhancers are most widely used by manufacturers, since these enhancers are easier to handle; hence, flavor enhancers in the powdered form account for the largest share in the market. Flavor enhancers enhance the original taste and aroma of food, without imparting a characteristic taste or aroma of its own.
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On the basis of application, the flavor enhancers market is segmented by into processed & convenience foods, beverages, meat & fish products, and others (bakery, dairy, confectionery products, and condiments). The processed & convenience foods segment accounted for the highest market share in 2016. Flavor enhancers are used to enhance the umami taste in savory foods and hence its widest application lies in the processed & convenience foods. The market for convenience & processed foods is established in the developed regions, such as North America and Europe, which offer a stable growth for the flavor enhancers market. Countries such as India and China witness a high consumption of MSG in processed foods, which is expected to augment the market for flavor enhancers in the Asia-Pacific region.
The flavor enhancers market in Asia-Pacific was the largest in 2016, and it is projected to grow at the highest CAGR during the forecast period. The major driver for the growth of the flavor enhancers market in the region is due to the growth of the food & beverage industry in emerging economies such as India and China.
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Stringent regulations and international quality standards for flavor enhancers is the major factor restraining the flavor enhancers market. For instance, the assessment of flavor enhancers is done for safety purpose before using them in food. These enhancers are strictly reviewed, and in the case of non-adherence, actions can be enforced by the regulatory bodies. The European Union (EU) Legislation requires the flavor enhancers to be labeled with an E-number. These E-numbers should pass the safety test and must be approved by the regulatory body. According to the USDA FSIS (Food Safety & Inspection Service) regulation, animal or vegetable proteins must be specifically identified on the label in the list of ingredients, and the source of the protein also must be disclosed. This poses as a restraint for the market growth.
The flavor enhancers market is characterized by medium to high competition due to the presence of a number of large- and small-scale firms with low product differentiation. New product launches, acquisitions, and expansions are the key strategies adopted by these players to ensure their growth in the market. The market is dominated by players such as Cargill (U.S.), Tate & Lyle PLC (U.K.), Associated British Foods plc (U.S.), Corbion N.V. (Netherlands), Sensient Technologies (U.S.). Other players in the industry include Novozymes A/S (Denmark), E.I. DuPont de Nemours and Company (U.S.), Angel Yeast Co., Ltd (China), Innova Flavors (U.S.), Savoury Systems International, Inc. (U.S.), Senomyx, Inc. (U.S.), and Ajinomoto Co., Inc. (Japan).
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