(Entertainment-NewsWire.com, October 23, 2019 ) The flavor enhancers market is projected to reach USD 8.81 billion by 2022 at a CAGR of 5.6% from 2017 to 2022. The market is driven by factors such as the rising popularity for convenience food & beverages and the increasing consumption of MSG (monosodium glutamates) as prime flavor enhancers. Stringent regulations which include international quality standards for flavor enhancers is the major factor restraining the flavor enhancers market.
Processed & convenience foods segment led the flavor enhancers market, by application
In the processed & convenience food industry, flavor enhancers are used to increase the palatability of the food items and enhance the taste and aroma of the foods. Flavor enhancers have various applications in the processed & convenience foods, such as soups, sauces, ready meals, and snacks. Monosodium glutamate is the most commonly used flavor enhancers for processed & convenience foods. Moreover, it is widely used in developing regions, such as Asia-Pacific where the market for processed & convenience foods is expected to witness the highest growth, which is further expected to drive the overall flavor enhancers market.
Asia-Pacific to dominate the flavor enhancers market through 2022
The market for flavor enhancers in the Asia-Pacific region was the largest, wherein China was the largest country-wise market. The Asia-Pacific region has a large market for fast food & convenience food products. The improved standard of living of the people is contributing heavily to the demand for flavor enhancers by manufacturers. However, the rise in the number of health conscious consumers has offered market potential for yeast extracts to grow in the flavor enhancers market in the region since it can be derived naturally.
The global flavor enhancers market is dominated by key players such as Cargill (U.S.), Tate & Lyle PLC (U.K.), Associated British Foods plc (U.S.), Corbion N.V. (Netherlands), Sensient Technologies (U.S.). Other players in the industry include Novozymes A/S (Denmark), E.I. DuPont de Nemours and Company (U.S.), Angel Yeast Co., Ltd (China), Innova Flavors (U.S.), Savoury Systems International, Inc. (U.S.), Senomyx, Inc. (U.S.), and Ajinomoto Co., Inc. (Japan).
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