Food Flavors & Enhancers Market size to exceed $13.5bn by 2027
Published Date: March 1, 2021 Authors: Kunal Ahuja, Amit Rawat
Food Flavors & Enhancers Market size is set to surpass USD 13.5 billion by 2027, according to a new research report by Global Market Insights, Inc.
Increasing number of people suffering from lifestyle disorders and chronic health conditions is encouraging consumers to increasingly adopt a healthy dietary lifestyle and incorporate foods with plant-based ingredients in their diets, thus boosting the demand for natural flavors in food applications. Increasing per capita income of people coupled with rising consumer demand for foods with a richer taste profile without compromising on the nutritional content of the product is likely to fuel the industry demand. Development and implementation of innovative processes for manufacturing flavors and enhancers should further speed up growth of the food flavors & enhancers market in the coming years.
Changing consumer perceptions towards unique flavor profiles coupled with innovative product developments to foster market statistics
Shift in consumer preference towards consumption of unique flavored foods to satisfy their taste buds are compelling flavor manufacturers to develop and market new improved flavor products which are capable of imparting an improved taste profile to the food products since the past few years. Increasing consumer awareness regarding the importance of consuming low sugar and immunity boosting foods should further escalate the demand for flavors made from ingredients such as elderberry or green tea, thus driving the growth of the food flavors & enhancers industry.
Browse key industry insights spread across 300 pages with 189 market data tables and 35 figures & charts from the report, “Food flavors & Enhancers Market Analysis by Product (Natural, Artificial), Application (Bakery & Confectionery, Food & Nutrition, Beverages, Dairy & Frozen Desserts, Sauces & Dressings), Industry Analysis Report, Regional Outlook Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Growing demand for healthy and nutritious ingredients in food products to drive the demand for natural flavors
Global natural flavors market is expected to reach over USD 11 Billion by 2026. Increasing consumer awareness regarding the importance of healthy dietary habits is encouraging consumers to opt for foods with natural, plant-based flavors in the recent years. Growing clean label requirements are compelling food and beverage manufacturers to incorporate plant-based ingredients and flavors in their products, thus boosting food flavors & enhancers market size during the forecast period.
Increasing new product innovations in plant-based flavoring agents are expected to favor market growth. For instance, Glanbia Nutritionals has introduced MaskWell Masking Solutions for masking plant-based and other ingredients. Synergy Flavors has introduced the Dairy by Nature product line which incorporates natural masking and mouthfeel technologies in combination with natural flavors. Fuchs North America has launched a new line of flavors to enhance the taste profile of plant-based foods including plant-based burgers, vegan dairy products, and sauces. Creamy Garlic Sauce Base, Mango Seasoning for Vegan Yogurt, Matcha Vegan Ice Cream Base, and Vegan Burger Base are some of the products offered under the Next Level Vegan Collection product line. Increasing efforts by manufacturers to develop new and innovative plant-based flavor products should enhance food flavors & enhancers market outlook over the review period.
Growing consumer demand for low calorie, low sugar and highly nutritious bakery and confectionery products to propel the industry statistics
Growing consumer demand for bakery and confectionery products which are gluten-free, vegan and sugar-free without compromising on the taste and nutritional profile of it should boost the demand for food flavors & enhancers from the bakery and confectionery sector. Rising popularity of innovative flavors including spelt, amaranth and rye in cakes and pastry products is likely to further promote market share. Rising trend of blending one or more flavors with each other such as mango, passionfruit, yuzu, calamansi, mandarin, clementine, and bergamot should foster the food flavors & enhancers market forecasts.
Rising demand for uniquely flavored ice creams and frozen desserts to boost the growth of North American market
North American food flavors & enhancers market is expected to witness over 5.5% CAGR during the forecast period owing to rising consumer demand for plant-based, dairy-free, low-calorie and keto options in ice cream and frozen desserts. A variety of flavors such as strawberry hibiscus, dark chocolate and Dairy-Free Coconut Chocolate Cookie launched by Unilever Plc. is expected to gain traction in the frozen desserts industry. The growing consumption of ice creams and frozen desserts on festivals and special occasions such as birthdays, anniversary, Christmas, New Year, etc. in the region is expected to further raise the product demand during the assessment period.
Major players are adopting different growth strategies such as mergers, acquisitions and new product development to widen their existing product portfolio and meet the increasing consumer demands in the market. The primary players involved in the food flavors & enhancers market include Archer Daniels Midland (ADM), Dupont, Givaudan, International Flavors & Fragrances, Firmenich, MANE, Kerry Group, Symrise, Synergy Flavors, Sensient Technologies, Taiyo International, Takasago, Flavorchem, T. Hasegawa, Bell Flavors and Fragrances, Robertet, Treatt, Tate & Lyle, Keva Flavours, McCormick & Company, Huabao Flavors & Fragrances, Wanxiang International, Solvay, Lucta and China Flavors and Fragrances.
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