FMI has announced Flavour and Flavour Enhancers Market Expected to Expand at a Steady CAGR through 2025
Future Market Insights has announced the addition of the “Flavour and Flavour Enhancers Market: Global Industry Analysis and Opportunity Assessment 2015 - 2025" report to their offering.
Flavour and flavour enhancer are a type of food additives which are used to make taste of food and beverages better. Flavour enhancers are used only around 0.1 percent to 0.5 percent in the final products of food and beverages. There are two sources of flavours, such as natural and artificial or synthetic. Formulation is the first step of supply chain of flavour enhancer where material for flavour enhancers are collected and formulated for the manufacturing process. After formulation it is passed to manufacturing process where flavour enhancers are passed to food and beverages producers as a concentrated mixture of ingredients.
Flavour and Flavour Enhancers Market segmentation:
On the basis of product type flavour and flavour enhancer market is segmented into flavour and flavour enhancer. Flavour is sub-segmented on the basis on types into natural flavour and artificial flavour. On the basis of types flavour enhancer segment is sub segmented into monosodium glutamate (MSG), nucleotide and others which includes ribonucleotide.
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On the basis of application flavour and flavour enhancer market is segmented into food and beverage. Furthermore, food industry is sub segmented into culinary products, snack and confectionery, bakeries, meat and savoury and dietary supplements. Beverage industry is sub segmented on the basis of usage into carbonated drinks and non-carbonated drinks.
Geographically, flavour and flavour enhancers market is segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan and Middle East & Africa (MEA). Currently North America dominating the flavour and flavour enhancers market in terms of both value and volume, however Asia Pacific excluding Japan is expected to record highest growth rate among all the regions.
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Flavour and Flavour Enhancers Market Dynamics:
There are many factors which are driving flavour and flavour enhancers market such as, steady growth in beverage industry makes a direct effect on flavour and flavour enhancers market, moreover increase demand for convenience food leads to increase the demand for flavour and flavour enhancers market. Other factors such as global economic growth and changing consumer lifestyle are predicted to make the market more lucrative. Also it has been noticed that sensory effect attracts and influence more consumers, hence food and beverage producers are now using flavour and flavour enhancers in their products in order to make their products more sensory.
However, there are many factors which restrain the flavour and flavour enhancers market such as high raw material cost and stringent regulatory limitations; also consumers are now avoiding synthetic flavour and flavour enhancers owing to its after effects. Also, use of biotech flavours is getting popularity among manufacturers, which will lead to creation of novel ingredients. There is a high opportunity in emerging markets, since consumers have busy schedule and flavour enhancers are the best way to cook coupled with growing fast food market, which is also an opportunity for the flavour and flavour enhancers market.
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Flavour and Flavour Enhancers Market Key Players:
Some of the key players operating in the flavour and flavour enhancers market are International Flavors & Fragrances Inc., Firmenich SA, Givaudan, Takasago International Corporation, Sensient Technologies Corporation and Mane SA.
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