The global flavor enhancer market revenue was valued at USD 10.44 billion in 2023 and is projected to grow from USD 11.06 billion in 2024 to USD 18.77 billion by 2032, reflecting a compound annual growth rate (CAGR) of 6.84% during the forecast period.

Flavor enhancers are additives used in food and beverages to improve and modify taste profiles. Common types include yeast extract, monosodium glutamate (MSG), acidulants, sugar substitutes, hydrolyzed vegetable protein, and botanical extracts. These enhancers can be derived from natural sources or synthesized chemically. However, natural enhancers are generally more expensive than synthetic ones, which has slowed the growth of demand for natural options. The market is being driven by the rapid adoption of advanced technologies to develop innovative enhancers tailored to diverse applications across various industries.

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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.

Report Coverage

The market research report offers a comprehensive analysis, emphasizing key aspects such as the competitive landscape and prominent product categories. It also delivers valuable insights into emerging market trends and notable industry advancements. Additionally, the report highlights various factors that have driven market growth in recent years, providing a well-rounded perspective on the industry’s development.

Drivers and Restraints

Increased Consumer Preference forReadymade Food Products to Foster Market Growth

In recent years, there has been a significant shift in consumer eating habits, with a growing dependence on ready-made and fast foods. This trend is largely driven by hectic lifestyles, busy schedules, and limited time for meal preparation. To cater to this demand, key manufacturers incorporate essences, such as food flavor enhancers, to improve the taste and overall appeal of highly processed food products, thereby fueling the growth of the flavor enhancer market.

However, the market faces challenges due to the potential adverse health effects associated with chemically produced flavor enhancers, which are hindering its growth trajectory.

Regional Insights

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

Competitive Landscape

Rise in Product Launches by Major Players to Bolster Market Expansion

Prominent players in the market include Firmenich SA, Ajinomoto, and International Flavors & Fragrances Inc. These leading companies prioritize the development and launch of innovative products to strengthen their competitive edge and capture a larger market share.

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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.