Asia-Pacific Flavor Enhancer Market is projected to grow at a CAGR of 5.62% during the forecast period, 2020-2025.
- Flavor enhancer is an additive, which is used to intensify or improve the flavor of food. Flavor enhancers provide the food products with the ‘Umami’ flavor. Flavor enhancers are used sparingly, with only around 0.1% to 0.5% of it being added to the food product. The distinction in flavorings--natural versus artificial--comes from the source of these identical chemicals.
- The increasing popularity of Asian cuisines across the globe is another primary reason for driving the market. Recently, many companies have launched natural flavor enhancers to meet the rising demand for clean labels.
Key Market Trends
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 flavor is increasing in the market which compels 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 enhancers are having equal importance in the market. The dairy industry has a growing application of flavors and enhancers, this is attributed to the increasing demand for flavored milk especially in the urban areas.
Rise in Consumption in Convenience Food
Growing demand for convenience food and a hectic lifestyle, the consumption of noodles is increasing at a faster pace. A mix of glutamates and nucleotides is used in the noodles for flavor enhancement. The key players such as Koninklijke DSM N.V. are providing a range of food enhancers under its brand Multirome for its application in noodles. The growing trend of Asian cuisine, especially Chinese also cater to the market studied, for the umami flavor provided by monosodium glutamate in noodles is highly consumed in the global and regional market, which in turn boosting the flavor enhancer market in the region.
Many companies have launched natural flavor enhancers to meet the rising demand for clean labels. Market leader in flavor and fragrances, Firmenich has invested in building world class flavor manufacturing facility in Zhangjiagang, China, to meet the growing demand for innovative and customized flavors. Some of the major players in the market studied are Cargill Inc., Givaudan, Kerry Group plc, Firmenich SA among others.
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Table of Contents
1.2 Scope of the Study
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
5.2 By Application
5.2.3 Dairy Product
5.3 By Geography
5.3.5 Rest of Asia-Pacific
6.2 Market Position Analysis
6.3 Company Profiles
6.3.1 Cargill Inc.
6.3.3 Ajinomoto Group
6.3.4 Kerry Group plc.
6.3.5 Firmenich SA
6.3.6 Koninklijke DSM N.V.
6.3.7 Archer Daniels Midland Company
6.3.8 Corbion N.V