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India Food Flavor and Enhancer Market Growth, Trends and Forecast (2019 - 2024)

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  • 85 Pages
  • March 2019
  • Region: India
  • Mordor Intelligence
  • ID: 4602420
Market Overview

India Food Flavor and Enhancer Market is forecasted to grow at a CAGR of 3.5% during the forecast period (2019-2024).
  • Increasing demand of food flavors from processed food products is driving the market growth as the food processing industry in India is one of the largest in terms of production, consumption, and import.
  • Due to the prevalence of diverse cultures in India, there is also huge variety of food cooked in this country, which requires food flavors and enhancers to make the food taste better. Moreover, there is an increased use of spices and herbs in the Indian food culture, which leads to an evergreen demand for food flavors in India.

Scope of the Report

India Food Flavor and Enhancer market is segmented by type into Food Flavors ( Natural, Synthetic and Natural Identical Flavors) and Enhancers; by end user into Bakery, Confectionery, Processed Food, Beverage and Dairy Product.

Key Market Trends

Increased Production of Processed Foods using Indian Flavors

Indian food has a huge application of herbs and spices, like chilies, asfoetida, and cinnamon, amongst others, which are used as food flavors and enhancers. Recently, food flavors, like coriander, ginger, and garlic powder, have ben noted to have huge demand from the Indian kitchen. With the increase of the working population, need for processed and ready-made food products, associated with interesting flavors and enhanced taste, is on the rise. Companies producing snack food items, like chips, instant noodles, biscuits, and others, are demanding food flavors and enhancers to differentiate their product from the competitors. Further, chocolate is also being used as a flavor in various products, like ice-creams, cakes, and Indian sweets, amongst others, by sweet and snack shops, confectionaries, and restaurants.

Increased Consumers Willingness to Experiment with New Flavors

This trend has led to an increase in the sales where the consumers have higher disposable incomes, and thus are willing to spend on non-essential sophisticated products across food categories. For instance, in chocolates, dark chocolate and unusual flavour combinations, such as chili chocolate, are increasingly being used. Also, with an increase in the regulations towards organic and herbal food flavors and enhancers, the companies are observed to be shifting towards the production of natural food flavors and enhancers. This has led to an increase in the revenues of the Indian companies engaged in food flavors and enhancers.

Competitive Landscape

Leading manufacturers in the food flavor and enhancer market focus to leverage opportunities to expand their revenue base. The companies are reinvigorating the category toward the development of innovative and interesting product combinations of natural flavor and color.The key brands are embarking on mergers and acquisitions as one of their key strategies to achieve consolidation and optimize their offerings. Some of the major players in the market are: Givaudan, Firmenich SA, Dupont- Danisco, NILON'S and Flavaroma amongnst others.

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Table of Contents

1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
3.1 Market Overview
4.1 Market Drivers
4.2 Market Restraints
4.3 Opportunities
4.4 Porters Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.1 By Type
5.1.1 Natural Flavor
5.1.2 Synthetic Flavor
5.1.3 Nature Identical Flavoring
5.1.4 Flavor Enhancers
5.2 By Application
5.2.1 Dairy
5.2.2 Bakery
5.2.3 Confectionery
5.2.4 Processed Food
5.2.5 Beverage
5.2.6 Others
6.1 Market Share Analysis
6.2 Most Adopted Strategies
6.3 Most Active Companies
6.4 Company Profiles
6.4.1 Givaudan
6.4.2 DuPont
6.4.3 Firmenich
6.4.4 NILON'S
6.4.5 Flavaroma
6.4.6 Flavors India (P ) Ltd
6.4.7 Sonarome
6.4.8 BASF

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Givaudan
  • DuPont
  • Firmenich
  • Flavaroma
  • Flavors India (P ) Ltd
  • Sonarome
  • BASF