Flavour Enhancer Market – Distinctive Graphics and Exemplified SWOT Analysis of Major Industry Segments

The global flavour enhancer market was valued at USD XX billion in 2016 and is poised to reach USD 6.3 billion by 2022, registering a CAGR of 4.0% during the forecast period of 2017–2022.

Dallas, United States - July 7, 2017 /MarketersMedia/ —

Flavour enhancers, such as glutamates, nucleotides, hydrolysed vegetable protein, autolyzed yeast extract, etc. are alternative to flavours to enhance the taste of food. Flavour enhancers develop the ‘Umami’ taste and flavour to food products. Monosodium glutamate, which originated from Japan in 1909 by Ajinomoto, has gained popularity across the globe, for use in several Asian cuisines.

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GROWING SOUP & NOODLES MARKET TO INCREASE THE DEMAND FOR FLAVOUR ENHANCERS

Flavour enhancers are mostly added to seasonings, noodles, and soups, to enhance taste and increase hunger. There has been a significant increase in the number of fast food chains and restaurants worldwide, which boosts the demand for flavour enhancers. The increasing popularity of Asian cuisines across the globe is another primary reason driving the market. Recently, many companies have launched natural flavour enhancers to meet the rising demand for clean labels. However, there are some adverse health effects of consuming MSG beyond the recommended limit, which is a major constraint for the market. MSG is recognized as the ‘Chinese restaurant syndrome’ in the United States, due to its ill-effects on health. This has restricted market growth in the matured regions, such as the United States and Europe.

SEASONINGS DOMINATE THE MARKET

The flavour enhancer market is categorized based on type, application, and geography. Based on flavour enhancer types, the market is segmented into MSG and other flavour enhancers, which include - HVP, autolyzed yeast, nucleotides, etc. MSG dominates the market, with China being the primary consumer. China accounts for around 55% of the global MSG consumption. Based on application, the market is categorized into seasonings, noodles, soups, and other processed foods. The market is segmented by end-user type, including the food industry, retail, and food service sectors. With the rise in the number of food chain restaurants, the sale of flavour enhancers has increased in the food service sector. The industrial food processing sector accounts for around 50% of the total flavour enhancer consumption, followed by the food service sector and retail sales.

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Global Flavour Enhancer Market-Segmented by Type, Application, End-user and Geography (2017-2022)

ENERGING COUNTRIES POSSES GREAT OPPORTUNITY

Asia- Pacific dominates the total global flavour enhancer consumption, due to the high presence of MSG in many Southeast Asian cuisines. Indonesia, Thailand, and Vietnam are the major potential markets for flavour enhancers in Asia-Pacific. Europe accounts for only 4% of the total global flavour enhancer consumption. However, South America is expected to offer excellent opportunities for the market, due to growing popularity of Asian cuisines. The emerging economies of other South Asian countries are also driving the growth of the market.

The key players in the market are –

• Ajinomoto Inc.
• Shandong Fufeng Group of China
• Meihua

Shandong Fufeng Group of China dominates the market, with a share of XX% in the highly fragmented global market. Companies focus on innovation, investment, and expansion as the most powerful strategies to sustain the market competition.

NOTABLE MARKET DEVELOPMENTS

Ajinomoto plans to target the European market (United Kingdom, Germany, and France) for its expansion and increasing sales outside the domestic market. Prior to this strategy, the company invested USD 600 million to expand its presence in the Middle East and Africa.

Our report on the global flavor enhancer market covers the following -

• MRO market trends and dynamics
• Latest news and developments
• Porter’s five forces analysis
• Investment scope
• Deep dive insights

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Release ID: 215459