The UK food flavor and enhancer market is projected to register a CAGR of 3.51% during the forecast period.The unceasing innovation and developments in the flavor market have been tapping the emerging food and beverage industries. Vegan flavors, for instance, have emerged as a boon for businesses dedicating operations for vegan products. Moreover, the rising vegan population in the country remains the primary factor boosting the market studied.
- Moreover, the rising prevalence of clean label ingredients is further anticipated to boost the market during the forecast period.
Key Market Trends
Clean Label Holds Promising Future
For a country like the United Kingdom, consumers today are resourceful to identify the product formulation and the quality of ingredients used by the manufacturer. As the consumers learn more about their food and ingredients used during processing, they shape the products they want to find on the shelf. Moreover, the products with clean label claim, such as free-from, natural, and minimally processed, tend to most interest of the British consumers. As a result, the sales of products with clean label claims rose significantly, pulling the associated ingredient market from USD 1,333 million in 2016 to USD 1,529 million in 2019, in the United Kingdom.
Beverages Remained One Prominent Segment in the Market
In order to cater to the increasing demand for flavored carbonated beverage products, companies are increasingly focusing on making product lines based on tropical fruits and super fruits. This is driving the growth of the flavored beverage market. According to a recent study, British consumers spend almost GBP 1,500 in a year on beverage. Thus, the popularity of flavored premium spirits has been attracting the spirit companies to introduce new premium flavored drinks for the last couple of years. Also, the increasing popularity of premium mixers, as customers look for sophisticated options, is also driving the demand for food flavors for the alcoholic beverage industry.
The UK food flavor and enhancer market faces high competition, with the presence of several country-based key players. Some of the companies operating in this market are Givaudan, Archer Daniels Midland, and Kerry Inc. IFF Inc. has been a market leader, owing to its technological advancement, as it holds various patents for its technological flavor solutions, which it offers to flavor manufacturers.
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Table of Contents
1.2 Scope of the Study
4.2 Market Restraints
4.3 Industry Attractiveness - 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
22.214.171.124 Natural Flavors
126.96.36.199 Synthetic Flavors
188.8.131.52 Nature Identical Flavors
5.1.2 Flavor Enhancers
5.2.1 Bakery and Confectionery
5.2.4 Soups, Pastas, and Noodles
5.2.6 Other Applications
6.2 Most Adopted Strategies
6.3 Company Profiles
6.3.2 Symrise AG
6.3.3 Firmenich SA
6.3.4 International Flavors & Fragrances Inc.
6.3.5 Sensient Technologies Corporation
6.3.6 The Archer Daniels Midland Company
6.3.7 Kerry Inc.
6.3.8 Sensate Pty Ltd