Flavor Enhancer Market Size, Share, Report Analysis by 2032

The global flavor enhancer market size was USD 10.44 billion in 2023. The market is set to rise from USD 11.06 billion in 2024 to USD 18.77 billion by 2032 at a CAGR of 6.84% during 2024-2032.

Flavor enhancers are substances added to food and beverages to enhance taste and adjust the existing taste profile. These enhancers comprise yeast extract, Monosodium Glutamate (MSG), acidulants, sugar alternatives, hydrolyzed vegetable protein, and botanical extracts. They can be sourced naturally or created through chemical synthesis. Nevertheless, natural enhancers tend to be more expensive than their synthetic counterparts, leading to a slower demand for natural options in the market. Rapid implementation of advanced technologies to create unique enhancers for different sectors is fueling market growth.

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List of Key Players Profiled in the Report:

Givaudan (Switzerland)

International Flavors & Fragrances Inc. (U.S.)

Firmenich (Switzerland)

Tate and Lyle (U.K.)

Corbion N.V. (Netherlands)

Novozymes A/S (Denmark)

Angel Yeast Co. Ltd. (China)

Ajinomoto (Japan)

Kerry Group (Ireland)

ABF Ingredients (U.K.)

Sensient Technologies Corporation (U.S.)

Segments

Growing Consumption of Processed Food Products Propels Monosodium Glutamate (MSG) Demand

By type, the market is classified into sugar alternatives, Monosodium Glutamate (MSG), acidulants, hydrolyzed vegetable protein, yeast extract, and botanical extracts. Monosodium glutamates hold the largest flavor enhancer market share due to their high preference as a flavor enhancer in processed meat, processed snacks, soups, and other prepared meals. They are gaining traction, specifically in Asian countries, and are extensively adopted in the food industry.

Dry Segment Takes the Lead as It is Accessible in Customized Formats

On the basis of form, the market is segregated into dry and liquid. The dry segment commands the market as it is accessible in powder, granules, and other forms, which are present in customized formats and can be kept and shipped effortlessly. There are some products accessible in dry form, including glutamates, yeast extracts, and botanical extracts.

Processed Foods Command Market Due to their Surging Popularity among Young Consumers

In terms of application, the market is categorized into processed foods, beverages, meat and seafood, baked goods, confectionery, and others. Processed foods command the global market as they are gaining popularity among young consumers. A rise in processed food manufacturing is boosting segment growth.

From the regional ground, the market is classified into Europe, South America, North America, Asia Pacific, and the Middle East & Africa.

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Report Coverage

The market research report presents a complete market examination, highlighting essential elements, including the competitive environment and noticeable product categories. Furthermore, the report provides valuable insights on market trends and significant industry developments. Apart from the factors above, the report includes several aspects that have fostered market expansion in recent times.

Drivers and Restraints

Increased Consumer Preference for Ready made Food Products to Foster Market Growth

There has been a rapid shift in consumers' food habits in the past few years. Increased reliance on readymade food and junk food is attributed to busy schedules & hectic lifestyles of individuals and lack of time to prepare meals. Key producers add essences, including food flavor enhancers, to enhance their product taste and boost the deliciousness of food items to make these highly processed food products flavorful. This is propelling the flavor enhancer market growth.

Nevertheless, the adverse health effects of chemically produced flavor enhancers are hindering market growth.

Regional Insights

Rapid Inclination Toward Western Diets and Lifestyles Augmented Market Growth in Asia Pacific

The market in Asia Pacific was valued at USD 3.70 billion in 2023 due to increased consumption of processed food and beverages in China, India, and Japan. Rapid inclination toward Western diets and lifestyles is also fostering market development in the region.

Market growth in North America is driven by the increased demand for processed food and beverages in the U.S. A rise in the import and export of processed foods in the U.S. is also fueling market expansion in the region.

Competitive Landscape

Rise in Product Launches by Major Players to Bolster Market Expansion

Some of the top participants in the market are Firmenich SA, Ajinomoto, and International Flavors & Fragrances Inc. Leading companies focus on the introduction of new products to gain a competitive advantage.

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Key Industry Development

October 2022: Firmenich initiated a new campus in Geneva, which intended to use innovative technology for the flavor creation. The hi-tech campus aids the company in driving its global development efforts and boosts product modernization.