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Flavor Enhancers Market: Significant Growth Is Observed In The Asia-pacific Region
The flavor enhancers market is projected to reach USD 8.18 Billion by 2022, at a CAGR of 5.6% from 2017 to 2022. The market is driven by factors such as the growing consumption of convenience food & beverages across the globe, and high usage of monosodium glutamate in savory foods.
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 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.
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Significant growth for flavor enhancers is observed in the Asia-Pacific region
Rapid urbanization and increasing demand for convenience food is expected to drive the market for different flavors due to which the flavor enhancers market is projected to grow substantially. There is a growing demand for convenience & processed food products in this region due to the Westernization of food habits, which is likely to surpass the market in developed regions, such as Europe and North America. There is an increasing consumption of frozen meat & fish products as a result of urbanization, hectic lifestyles, and high disposable incomes. This trend is expected to fuel the growth of the flavor enhancers market in the region. This report includes a study of marketing and development strategies, along with the product portfolio of leading companies. It includes the profiles of leading companies such as Cargill (U.S.), Tate & Lyle PLC (U.K.), Associated British Foods plc (U.S.), Corbion N.V. (Netherlands), and Sensient Technologies (U.S.).
The key players in the flavor enhancers market include Cargill (U.S.), Tate & Lyle PLC (U.K.), Associated British Foods plc (U.S.), Corbion N.V. (Netherlands), Sensient Technologies (U.S.) among others. The maximum value addition of a product in the global flavor enhancers industry is observed in the stage of manufacturing.
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