The global food flavor enhancer market is estimated to be worth USD 8,736 million in 2023. Future Market Insights projects the market to expand at 6% CAGR, with a valuation of USD 16,251.1 between 2023 and 2033.
As a result of the growing health risks associated with the intake of synthetic/artificial tastes, there is a surge in demand for natural food flavors, and consumers are observed avoiding artificial colors and flavors. The market is being driven by the use of natural flavors, such as citrus peel and juice, spice vanilla sugar, fruit essences, coffee flavorings, etc., in a variety of applications, including processed foods and beverages.
With the rising demand for nostalgic and fusion flavors, the global market for flavor enhancers is expected to grow in the future. Over the past few months, the blending of botanical and fruit flavors has drawn a lot of attention. Hence, the market is likely to expand at a growth rate of 1.04x between 2022 and 2023.
The demand for food flavor enhancers has increased due to an increase in the consumption of low-fat, low-sodium, and low-carbohydrate foods. Yet, given that food flavor enhancers are produced artificially, rising consumer knowledge of health issues is a significant barrier to their use. Advancement of natural flavor enhancers has led to new potential in market expansion.
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| Attributes | Details |
|---|---|
| Food Flavor Enhancer Market CAGR (2023 to 2033) | 6% |
| Food Flavor Enhancer Market Size (2023) | USD 8,736 million |
| Food Flavor Enhancer Market Size (2033) | USD 16,251.1 million |
There are expected to be exciting chances for innovation in the realm of flavors and enhancers, due to the growing trend of using exotic flavors in food products. The development and use of methods like solid-liquid extraction, supercritical fluid extraction, and others by flavor producers to retain the inherent taste and flavor of fruit flavors are anticipated to further contribute to the market's expansion.
| Year | Market Value |
|---|---|
| 2018 | USD 1,922.5 million |
| 2021 | USD 8,007.63 million |
| 2022 | USD 8,400 million |
| 2030 | USD 14,218.35 million |
| 2032 | USD 15,701.5 million |
The global market expanded by 6.0% from 2016 to 2021. However, not all areas have seen this rise equally; the developing markets have seen a CAGR of 2.4% between 2018 and 2022.
| Particulars | Details |
|---|---|
| Jan to Jun (H1), 2021 (A) | 7% |
| Jan to Jun (H1), 2022 Projected (P) | 6% |
| Jan to Jun (H1), 2022 Outlook (O) | 6% |
| BPS: H1, 2021 - H1, 2022 (P) | 5.8% |
| BPS: H1, 2021 (O) - H1, 2022 (P) | 6% |
At a global level, Asian cuisine and dishes are among the widely well-liked. Asian cuisine boasts an astonishingly wide variety of flavors. Asian cuisines such as Japanese, Chinese, Indian, and others offer a wide variety of useful components. It is governed in Japan under the Ministry of Health and Welfare-approved Food for Specified Health Use (FOSHU) regulatory regulations.
Due to this, the market is predicted to expand from 2022 to 2028 (short-term), with a CAGR of 5.2%. Additionally, manufacturers believe there is significant room for long-term growth, with a CAGR of 7% from 2023 to 2032.
Manufacturers of flavors have recently faced challenges due to the constantly evolving regulatory and quality standards relating to ensuring and protecting consumer health and safety.
Governments of various nations may impose strict laws and restrictions that delay the introduction of new products and the application of innovative ideas by manufacturers, slowing the market's expansion to some extent.
The need for flavor enhancers in food is anticipated to increase significantly in the next few years, along with the global food additives flavor enhancer market. There are several reasons for the market expansion for flavor enhancers and food additives.
First, the flavor enhancers market is being driven by the increased demand for convenience foods and snacks. With busier schedules, customers are turning more and more to pre-packaged and processed goods, which frequently need flavoring to make them more appealing.
Second, the market is expanding as a result of the rising demand for natural and organic flavor enhancers. People are buying more food items with natural components, as they are becoming more health conscious. As a result, employing natural flavor enhancers like herbs and spices rather than synthetic additives are becoming more popular.
Overall, it is anticipated that the food flavor enhancers market and food additives flavor market is likely to continue to expand in the years to come due to shifting consumer preferences and rising demand for quick-to-prepare, savory foods.
A few years back, the food flavor enhancer market was fragmented, with various lower- and mid-tier manufacturers that provide these food flavor enhancers to the global market. However, due to various acquisitions of these small- and medium-scale companies by top-tier companies, several small and medium companies have decreased, resulting in a more uniform and less diverse market.
In recent years, the food flavor enhancer market has been mostly dominated by a few top companies that have a high market share. Also, the high investments required for product innovation and expansion can only be provided by these top-tier companies.
For example, Archer Daniels Midland Company acquired WILD Flavors and Specialty Ingredients to increase its product portfolio of clean-label food flavor enhancers. The same was carried out by Kerry Group, which acquired Mastertaste Inc.
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The search for organic and vegetarian products has resulted in food flavor enhancer manufacturers opting for plant-based sources, such as plant extracts or vegetable powders. Also, the population that is turning vegan has been multiplying in recent years, which might result in plant-based food flavor enhancers gaining popularity during the forecast years.
Also, various health concerns and ethical reasons have resulted in many people opting for meat substitutes. 30% of consumers around the globe were flexitarian and reducetarian in 2016.
Thus, plant-based food flavor enhancers are gaining popularity, especially in developed regions such as North America and Europe. These food flavor enhancers are now being manufactured by many companies, around the globe to cater to vegan, reducetarian, and flexitarian consumers.
The Foodservice/HoReCa sector is anticipated to lead the market. The manufacturing of snacks, savories, and seasoning goods increasingly uses food flavor enhancers, which is projected to contribute to the industry's continued expansion.
Snack consumption and seasoning production are both rising quickly. In this market segment, manufacturers are introducing cutting-edge and distinctive items in an effort to draw in more buyers.
Increased interest in food flavor enhancers has spread throughout the United States as a result of the growing demand for ready-to-cook foods in these areas. The beverage industry's demand for food flavor enhancers has increased due to the rising popularity of sports drinks and beverages.
In 2022, the market in the United States was expanding at a share of 7.1%. In the upcoming years, the United States market is anticipated to maintain its development trajectory due to shifting consumer preferences and rising demand for quick-to-prepare, savory foods.
Food flavor enhancers are in great demand as a result of the rising demand for frozen meals and beverages. Moreover, people are getting influenced due to the increased use of social media, which further drives market growth.
The market demand for organic flavor enhancers has increased as disposable incomes have increased and consumers' awareness of healthy meals has grown. The United Kingdom market is expected to have a CAGR of 6% by 2033.
| Attributes | Details |
|---|---|
| Japan Market Share (2022) | 6% |
| China Market CAGR (2023 to 2033) | 4.8% |
| India Market CAGR (2023 to 2033) | 18.9% |
The global market is a moderately consolidated landscape, as 35% to 40% share of the market is held by tier-1 players. Market players are mainly focusing on manufacturing food flavor enhancers that cater to the vegan population. They are also aiming for introducing food flavor enhancers that could enhance the juicy, succulent flavor profile of vegetarian food products.
Expansion of businesses through mergers, acquisitions, collaborations, and alliances are the strategies followed by key players in the food flavor enhancer market. Key market participants focus on strategies such as the adoption of new technologies to develop innovative products, and further enlargement of sales and distribution channels.
Noteworthy investments in the research and development for novel and sturdy products are projected to boost the growth prospects of the food flavor enhancer
The market is valued at USD 8,736 million in 2023.
Cargill Inc. and Kerry Group are the key market players.
The food service sector is likely to remain preferred through 2033.
Players opt for mergers, collaborations, and acquisitions.
The United States, Japan, and China dominate the global market.
| Market Estimated Value (2023) | USD 10,608 million |
|---|---|
| Projected Market Value (2033) | USD 17,181 million |
| Value-based CAGR (2023 to 2033) | 4.9% |
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