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Canada Food Flavor and Enhancer Market - Growth, Trends, and Forecasts (2020 - 2025)

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  • 78 Pages
  • April 2020
  • Region: Canada
  • Mordor Intelligence
  • ID: 5011833
UP TO OFF until Jun 30th 2023
Canada Food Flavor and Enhancer market is projected to grow at a CAGR of 3.7% during the forecast period.

There is a rising demand for natural food flavors and consumers are seen avoiding artificial colors and flavors owing to the increasing health hazards that occur in consumption of synthetic/artificial flavors, which has resulted in an increased demand for natural food flavors.

The market is driven by the changing lifestyle, increasing demand for healthy ingredient, and influential trend for new exotic and ethnic flavors. With rising preference for premium-quality products, including premium lines of seasonings and sauces, the market is growing rapidly.

Key Market Trends

Increase in Demand for Clean Label Ingredients

The growing consumer preference for innovative flavors, convenience, and natural ingredients such as flavors has augmented the clean label ingredient market. There has been a growing consumer demand for processed food and the expectations for safer and healthier ingredients have in turn, increased the need for introduction of natural flavors across diverse applications. The manufacturers are also adopting the strategy of incorporating new natural flavors that can improve the nutritional and sensory profile of the product. The health enhancing properties of natural flavors, combined with the organic properties in natural products, are also increasing their adoption.

Rising Demand of Natural Food Flavors

The consumers in the country are strongly inclining toward keto diets, indicating the popularity of organic foods. Thus, plant-based eating has become mainstream, which, in turn, is driving the demand for natural flavors across different end-user industries. Natural flavoring agents that provide multiple benefits, such as reduced sugar, fat, and sodium, among others, and impart the desired flavors are being adopted by the food processing industries. Thus, the country’s fast paced meat processing industry strongly demands such flavors to produce reduced sodium end products for health-conscious consumers. Moreover, the flavor manufacturers are actively launching different flavors to cater to the rising consumption of ready-to-eat meat products and processed meat products, such as beef and pork, among others, to broaden their consumer base in the country.

Competitive Landscape

Canada food flavor and enhancer market is consolidated with the major players holding the maximum share in the market. The key strategies adopted by the companies are new product innovation, mergers and acquisitions, partnerships and expansion. The major players are Givaudan, Firmenich, Kerry Group, International Flavors and Fragrances Inc. among others.

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Table of Contents

1.1 Study Assumptions & Market Definition
1.2 Scope of the Study
3.1 Market Overview
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5.1 By Type
5.1.1 Flavors Natural Flavors Nature-Identical Flavors Synthetic Flavors
5.1.2 Flavor Enhancers
5.2 By Application
5.2.1 Bakery
5.2.2 Confectionery
5.2.3 Dairy Products
5.2.4 Beverages
5.2.5 Savory Snacks
5.2.6 Soups and Sauces
5.2.7 Others
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Givaudan
6.4.2 Firmenich
6.4.3 Kerry Group
6.4.4 International Flavors and Fragrances Inc.
6.4.5 Koninklijke DSM N.V.
6.4.6 Archer Daniels Midland Company
6.4.7 Takasago International Corporation
6.4.8 Flavorcan International Inc.
6.4.9 Aromatics+Flavors Inc.
6.4.10 Corbion NV

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Givaudan
  • Firmenich
  • Kerry Group
  • International Flavors and Fragrances Inc.
  • Koninklijke DSM N.V.
  • Archer Daniels Midland Company
  • Takasago International Corporation
  • Flavorcan International Inc.
  • Aromatics+Flavors Inc.
  • Corbion NV