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Asia Pacific Food Flavor and Enhancer Market - Growth, Trends and Forecasts (2019 - 2024)

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  • 90 Pages
  • April 2019
  • Region: Asia Pacific
  • Mordor Intelligence
  • ID: 4827984
UP TO OFF until Sep 30th 2023
Market Overview

Asia Pacific Food Flavor Market is projected to reach 12.11 billion USD in 2024 registering a CAGR of 3.5%.
  • Flavors are added to foods to impart an additional taste or smell and a flavor enhancer is a substance that is added to a food to supplement or enhance its original taste or flavor.
  • The increasing demand for foreign flavors and increased incorporation of herbs and spices as flavorings are driving the market.
  • Another factor boosting the market is the innovation in the flavor market, various new flavors are being introduced to the market.
  • Natural flavors has more demand over synthetic flavors, since synthetic flavors has many health hazards such as nausea, headache, allergic reactions, and dizziness etc.

Scope of the Report

Asia Pacific Food Flavor and Enhancer market is segmented by Type into Natural Flavor, Synthetic Flavor Nature Identical Flavor. By End Application into Bakery, Beverages, Confectionary, Dairy Product, Processed Food and Other Applications. Other Applications include Savory Flavor and Sweet Flavors. The regional analysis of the market has also been included.

Key Market Trends

Natural Flavors Has An Increased Demand In The Market

Natural flavors are substances that are extracted from plants, herbs and spices, fruits, vegetables or microbial fermentations. The increasing interest towards the nutritionally enriched and natural products have promoted the demand for natural flavors in the market. Natural herbs and spices were earlier used only in domestic cooking for flavors, which is now used at an industrial level by various players. Various countries have their own special authentic flavors, for instance, Thai cuisine has a variety of ingredients such as galangal, chili oil, peanuts, coconut paste, fish sauce, etc. The increasing demand for exotic flavors are also driving the market. Rosemary extracts have a growing demand in the market for its antioxidant property.

India Is The Fastest Growing Market In The Region

India stands as the fastest growing market in the region. Consumers are not willing to compromise on the taste and health factors of the food. The demand for new and foreign flavors are increasing in the market which compells the players to come up with innovative and healthy flavors. The Indian subcontinent has a huge demand for regional and traditional flavors. Natural flavors as well as synthetic flavors are having equal importance in the market. Dairy industry has growing application of flavors and enhancers, this is attributed by the incrteasing demand for flavored milk especially in the urban areas.

Competitive Landscape

The Asia Pacific food flavors and enhancer market is a fragmented and competitive market with the presence of various major and small players. Frutarom, Guivaudan, Sensient Technologies, Firmenich, IFF, Smyrise, etc are the major players in the market.

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Table of Contents

1.1 Research Phases
1.2 Study Deliverables
1.3 Scope of the Study
3.1 Market Overview
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Force Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Degree of Competition
5.1 By Type
5.1.1 Natural Flavors
5.1.2 Synthetic Flavors
5.1.3 Nature Identical Flavors
5.1.4 Flavor Enhancers
5.2 By End-Product Application
5.2.1 Bakery
5.2.2 Confectionery
5.2.3 Processed Food
5.2.4 Beverage
5.2.5 Dairy Product
5.2.6 Others
5.3 Geography
5.3.1 China
5.3.2 Japan
5.3.3 Australia
5.3.4 India
5.3.5 Rest of Asia Pacific
6.1 Strategies adopted by Key players
6.2 Most Active Companies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Givaudan
6.4.2 Firmenich
6.4.3 International Fragrance and Flavours Inc.
6.4.4 Sensient Technologies
6.4.5 Symrise
6.4.6 Takasago
6.4.7 Cargill Inc
6.4.8 Kerry Group
6.4.9 Archer Daniels Midland(ADM)
6.4.10 Dupont- Danisco

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Givaudan
  • Firmenich
  • International Fragrance and Flavours Inc.
  • Sensient Technologies
  • Symrise
  • Takasago
  • Cargill Inc
  • Kerry Group
  • Archer Daniels Midland(ADM)
  • Dupont- Danisco