Food Flavours and Flavour Enhancers Market Size, Share, Growth, and Industry Analysis, By Type (Monosodium Glutamate (MSG), Hydrolyzed Vegetable Protein (HVP), Yeast Extract and Others), By Application (Restaurants, Home Cooking and Food Processing Industry), and Regional Forecast to 2028

Updated On: 08 April 2024

Report Overview

• 
• Request a Free sample to learn more about this report

The global food flavours and flavour enhancers market size was 10.57 billion in 2022. As per our research, the market is expected to reach USD 14.01 billion by 2028, exhibiting a CAGR of 4.8% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with the food flavours and flavour enhancers market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

The market is the industry that manufactures and distributes compounds that improve the taste and aroma of food products. Food flavours are natural or artificial compounds added to food to improve or modify its taste and fragrance, whereas flavour enhancers are substances added to food to heighten or enhance its current flavours.

Consumer demand for unique and different flavour profiles in their food products, as well as rising demand for convenience foods and processed foods, are driving this sector. Food flavours and flavour enhancers are commonly employed in a variety of food products such as snacks, beverages, dairy products, bread products, and confectionery.

"COVID-19 Impact: Pandemic has had Mixed Impact on the Market Demand"

The COVID-19 pandemic has had a huge impact on the food flavour and flavour enhancers business. Global lockdowns, travel restrictions, and supply chain interruptions have posed hurdles for manufacturers and suppliers in this business. Restaurant, café, and foodservice outlet closures, as well as a shift in consumer behaviour towards home cooking, resulted in a decrease in demand for flavor-enhanced and processed food products. However, there has been a greater emphasis on home-cooked meals and the discovery of new flavours, which has resulted in a rise in demand for retail packaged foods and ingredients. Furthermore, the pandemic has increased the emphasis on health and wellness, fueling demand for natural and clean-label flavour solutions. 

Latest Trends

"Plant-based and natural flavours to fuel market expansion"

The increased demand for plant-based and natural flavours is one of the most recent developments in the food flavours and flavour enhancers market. As customers prioritize health and sustainability, there is a shift towards clean-label products and natural-source ingredients. Manufacturers are concentrating their efforts on creating novel plant-based flavours that can mimic the flavour profiles of meat, dairy, and other animal-based products. Furthermore, as customers seek for distinctive and daring taste experiences, there is a growing interest in ethnic and exotic flavours. This trend is driving the creation of a vast spectrum of globally inspired flavour profiles, appealing to a wide range of customer preferences and pushing culinary boundaries.

Segmentation

• 
• Request a Free sample to learn more about this report

• By Type Analysis

According to type, the food flavours and flavour enhancers can be segmented into Monosodium Glutamate (MSG), Hydrolyzed Vegetable Protein (HVP), Yeast Extract, and Others.

• By Application Analysis

Based on application, the market can be divided into restaurants, home cooking, and food processing industry.

Driving Factors

"Consumer preferences are changing propelling market expansion"

The desire for a variety of food products with distinctive and alluring flavours has increased as a result of shifting consumer lifestyles and rising disposable budgets. The demand for various and inventive flavour profiles is being driven by consumers' desire for new sensory experiences, ethnic flavours, and healthier alternatives. Food flavours and flavour enhancers market growth is impacted positively as people become more aware of international cuisines and culinary trends.

"Increased intake of processed and ready-to-eat foods to boosting the market demand"

The need for food flavours and flavour enhancers has increased due to the expanding popularity of convenience foods, ready-to-eat meals, and packaged snacks. The requirement for flavour solutions is fuelled by the fact that these items frequently need improved flavour and aroma to increase their sensory appeal and extend shelf life.

Restraining Factors

"Regulatory restrictions on artificial ingredients limiting the market growth"

The market for flavour enhancers and food flavours is constrained by a number of variables. The increased regulatory scrutiny and restrictions on the use of artificial additives and flavour enhancers as authorities place a higher priority on consumer health and safety are one important issue. As a result, there has been a move towards natural and clean-label products, but this also presents difficulties for manufacturers in terms of reformulating goods and guaranteeing compliance. The development and profitability of the market may also be impacted by shifting raw material prices, supply-chain disruptions, and the complexity of flavour creation.

Regional Insights

• 
• Request a Free sample to learn more about this report

"Rising disposable incomes and growing population assist Asia Pacific to lead the market"

Regional differences in customer tastes, laws, and market dynamics can be seen in the market for food flavours and flavour enhancers. The largest market for food flavours and flavour enhancers is in the Asia-Pacific area, which is fueled by changing eating patterns, rising disposable incomes, and a growing population. As consumers place a higher priority on health and wellbeing, there is a significant market for clean-label and natural flavours in North America and Europe. While Latin America is characterised by a strong demand for sweet and savoury flavours, the Middle East and Africa area is seeing development in demand for traditional and ethnic flavours. Manufacturers have the chance to enhance their market presence by customising their products to suit regional tastes and preferences thanks to the regional insights.

Key Industry Players

"Adoption Innovative Strategies by Key Players Influencing Market Development"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. The top key players in the market are Fufeng, Meihua, Ajinomoto Group, Eppen, Angel Yeast, Biospringer, Ohly, DSM, AIPU Food Industry and Innova.

Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios. In addition, the strategies to develop new technologies, capital investment in R&D, improve product quality, acquisitions, mergers, and compete for the market competition help them to perpetuate their position and value in the market. Besides, collaboration with other companies & extensive possession over food flavours and flavour enhancers market share by the key players stimulates the market growth.

List of Market Players Profiled

• Fufeng (China)
• Meihua (China)
• Ajinomoto Group (Japan)
• Eppen (China)
• Angel Yeast (China)
• Biospringer (France)

 Report Coverage

This report examines an understanding of the food flavours and flavour enhancers market size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macroeconomic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.