The Asia-Pacific flavor enhancer market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 5.62% during 2023–2031. The growth of the market is attributed to changing lifestyle that has resulted in an increase in the consumption of processed foods, where flavor enhancers are commonly utilized.
Flavor enhancers are additives that are used to change or improve the flavor of meals. They're mostly used to improve the flavor and texture of food and beverages.. These taste enhancers are harmless in small amounts, but in big concentrations, they can induce high blood pressure and allergies.
Food products that contain taste enhancers include salty snacks, prepared meals, and spices. Fluctuations in raw materials and regulatory frameworks, as well as the creation of unique natural flavor products in response to changing lifestyles and eating habits, have all contributed to the market growth.
Taste enhancers give food goods their 'Umami' flavor. Flavor enhancers are employed in small amounts, with approximately 0.1 percent to 0.5 percent added to the final product. The major factor boosting the market is growing popularity of Asian cuisines throughout the world. To fulfill the growing demand for clean labeling, numerous firms have recently released natural taste enhancers.
Market Trends, Drivers, Restraints, and Opportunities
-
R&D investment and technological advancements in flavor enhancer market is projected to create lucrative growth opportunities for the market players.
-
Rising consumer concern of health as flavor enhancers are artificially generated, they might cause health and skin problems are expected to restrict the market growth.
-
Regulatory restrictions, a high entry barrier, and rising raw material prices act as main challenge that can hinder the market expansion in the coming years.
-
Increased technical breakthroughs and rising demand for food items is estimated to significant opportunities for the market players.
Scope of the Report
The report on the Asia-Pacific flavor enhancer market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
|
Attributes
|
Details
|
|
Report Title
|
Flavor Enhancer Market - Asia-Pacific Industry Analysis, Growth, Share, Size, Trends, and Forecast
|
|
Base Year
|
2022
|
|
Historic Data
|
2016–2021
|
|
Forecast Period
|
2023–2031
|
|
Segmentation
|
Types (Acidulants, Glutamates, and Others) and Applications (Bakery, Confectionery, Processed Food, Dairy Product, Beverage, and Others)
|
|
Geographical Scope
|
Asia Pacific (China, Australia, Japan, India, and Rest of Asia Pacific)
|
|
Report Coverage
|
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
|
|
Key Players Covered in the Report
|
Cargill Inc, Ajinomoto Group, Firmenich SA, Givaudan, and Kerry Group plc.
|
Market Segment Insights
The glutamate segment is projected to represent a major market share
On the basis of types, the Asia-Pacific flavor enhancer market is divided into acidulants, glutamates, and others. The glutamate segment is expected to represent a key share of the market during the forecast period. With over 93 percent of global MSG production capacity, Asia is the world's leading producer of glutamates, including MSG. Factors such as growing demand, cheap and plentiful labor, and use in processed foods are the major reasons for its increased production in Asia.
Cheese, seafood, meat broths, and a number of other foods contain glutamate, a potent taste enhancer. Professor Kikunae Ikeda, a Japanese scientist, identified umami, a flavor attributed to glutamic acid, as the fifth basic flavor on the tongue, after sweet, sour, salty, and bitter, and as the location of the umami receptor taste. Despite the fact that glutamate occurs naturally in a variety of foods, it is commonly utilized to improve flavor. Fermentation was utilized in Japan to make glutamate for the first time.
The dairy product segment is expected to expand at a rapid pace
On the basis of applications, the Asia-Pacific flavor enhancer market is segregated into bakery, confectionery, processed food, dairy product, beverage, and others. The dairy product segment is estimated to hold a key share of the market during the forecast period.
Rapid expansion of the dairy sector in the region, as well as growing consumer demand for ice cream, yoghurt, and creams is estimated to drive the market. In Asia Pacific, revenue produced by dairy and egg products is anticipated to reach USD 355.97 billion by 2021, with average per capita consumption anticipated to reach roughly 37.9 kg in 2021, indicating strong development possibilities for the dairy industry.
India is expected to dominate the market
On the basis of geography the Asia Pacific flavor enhancer market is classified as China, Australia, Japan, India, and Rest of Asia Pacific. The market in India is rapidly rising. Consumers are unwilling to compromise on food quality. The market's need for new and exotic tastes is growing, forcing players to come up with unique and nutritious tastes.
Regional and traditional cuisines are in high demand throughout the Indian subcontinent. The natural and synthetic taste enhancers are equally important in the market. The dairy sector is increasingly using flavors and enhancers, which can be ascribed to rising demand for flavored milk, particularly in metropolitan areas.
Segments
The Asia-Pacific Flavor enhancer market has been segmented on the basis of
Types
- Acidulants
- Glutamates
- Others
Applications
- Bakery
- Confectionery
- Processed Food
- Dairy Products
- Beverage
- Others
Geography
- China
- Australia
- Japan
- India
- Rest of Asia Pacific
Key Players
- Cargill Inc
- Ajinomoto Group
- Firmenich SA
- Givaudan
- Kerry Group plc
Competitive Landscape
Key players competing in the Asia-Pacific Flavor Enhancer market include Cargill Inc, Ajinomoto Group, Firmenich SA, Givaudan, and Kerry Group plc.
Some of these players are using several market/business strategies including/such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
Request For Customization
Enquiry Before Buying
Speak With Analyst
