The emerging market opportunities for flavor enhancer appear to be conducive for the acceptance of convenience food in Europe and North America region. Flavor enhancers are food additives used to enhance the taste of the food through flavor. They make the food products more sensory. There are mainly two types of flavor enhancer in market; natural and artificial. Natural flavor is distinct from artificial on the basis of source of chemical formulation used in its process. Flavor enhancers are available in powder, liquid and other forms which are applicable in various food and beverage industry including bakery & confectionery, dairy & frozen desserts, snacks, beverages, meat products, and others.
Hectic life-style of working class consumers’ population has led to increased demand and sale of “on-the-go” convenience food. The trend of consumption of convenience food began in western regions and spread to other regions rapidly. Looking at the development of Asian countries, the increasing purchasing power of consumers, convenience trends are likely to remain significant. Consumers go for convenience foods as they are easy to use, and possess nutritional value, safety, variety and product appeal. Due to changing lifestyles, consumers spend less time planning and cooking meals at home as they consider preparing food at home as a chore and time and energy consuming. Flavor enhancer has a major role in the packed food to sustain the overall authentic property of the food. Deteriorating organoleptic properties of food product results making the food stale and undesirable. To sustain the quality, manufacturers put more focus on adding quality additives to the food product and hence flavor enhancer plays a major role in this market.
The demand of the natural flavor enhancer is increasing significantly in the developed economies. Due to the adverse health issues for the consumption of synthetic flavor enhancer in the processed food products have resulted in adoption of natural flavor enhancer. Also, the demand for the clean label products is growing over the last couple of years which in turn accelerates the sales of natural flavor enhancer.
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Latest Industry Updates:
July 2016 PLT Health Solutions, Inc. has announced the launch of a new technology that, while enhancing the flavor of foods & beverages, provides improved product quality and longer shelf life because of the strong anti-microbial properties
Oct 2016 Ajinomoto launched their flavor enhancer in Brazil
July 2017 PureCircle launched tevia Cocoa and Vanilla Flavor Enhancers
Major Key Players Analysis:
Key manufacturers are focusing to enhance its brand name by arranging various promotional activities. The company has participated in various social media promotions, events and interaction with the consumers. The manufacturers have demonstrated their new product offerings in order to attract the new customers. By this strategy the product of the company will be popular among the consumers which will aid to increase the overall profitability of the company.
Moreover, the key players are emphasizing in the research & development process in order to introduce new product also to extend the product line. Key players are introducing new products to increase the volume sales and also to increase the overall revenue of the company. In addition, manufacturers focus on effective packaging design as it has noticeable impact on consumers’ shopping behavior. Packaging plays a significant role in product marketing for any business that makes or sells products and act as selling point for many consumers by delivering a sense of quality and reflect the product’s brand image.
The key players profiled in flavor enhancer are Ajinomoto Co, Inc. (Japan), Corbion N.V. (The Netherlands), Cargill Inc. (U.S.), Tate & Lyle PLC (U.K.), DuPont Nutrition & Health (U.S.), Sensient Technologies (U.S.), and Innova Flavors (U.S.) among many others.
Global flavor enhancer market has been divided into Type, Ingredients, Form, Application and Region
On the Basis of Type: Natural and Artificial
On the Basis of Ingredients: Glutamate, Acidulant, Yeast Extract, Hydrolyzed Vegetable Proteins, and others
On the Basis of Form: Powder, Liquid, and others
On the Basis of Application: Bakery & Confectionery, Dairy & Frozen Desserts, Snacks, Beverages, Meat Products, and others
On the Basis of Region: North America, Europe, Asia Pacific, and Rest of the World
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The global flavor enhancer market is segmented into North America, Europe, Asia Pacific and Rest of the World. Among all the region, North America region is estimated to retain its dominance throughout the forecast period of 2017-2023. The U.S. is the major country in North American region. It holds 30% market proportion in the global flavor enhancer market in the year of 2017. However, Asia Pacific region is projected to expand at a high pace as compare to the other region and will register a healthy CAGR during the forecast period of 2017-2023. Increasing middle income population group with more disposable income, continuous urbanization in developing economies are anticipated to fuel the sales of flavor enhancer in Asia Pacific region. Apart from that, consumers are tend to adopt western culture which is anticipated to be the key factor for the rising growth of flavor enhancer in Asia Pacific region. Moreover, significant product innovation along with strong promotional activities by the key players is positively influencing the growth of flavor enhancer in the Asia Pacific region in the upcoming decade.
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