Global Food Flavor Enhancer Market: Overview

Food enhancers are widely used in large-scale commercial food production as machine-based production can lean towards bland-tastes which is often standard across a wide range. Hence, food enhancers are widely used in ready-made food products as well as fast-foods. Thanks to major innovations in food enhancers, a wide range of food products including seafood, beverages, convenience and processed foods alike come pre-equipped with food enhancers.

Some of the most common food enhancers used in commercial food production today include Monosodium glutamate, hydrolyzed vegetable proteins, acidulants, and yeast extracts. Despite the wide variety of applications, and products, the market continues to remain fairly consolidated. The 35% to 40% of the share in the market is held by tier-1 players. The growing demand in the food and beverage sector is expected to be a major driver for growth in the global food flavor enhancer market during 2018-2026.

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Global Food Flavor Enhancer Market: Notable Developments

Vitosa, a stevia sweetener widely used in food products received the ‘no objection’ FDA nod. The recent FDA letter explains that Vitosa will be allowed to continue with its self-claimed ‘generally recognized as safe’ status. This is a major news in the market as Vitosa is widely used in sports drinks, soft drinks, dairy products, and juices as well. It is a cost-effective sweetener which promises a myriad of applications in the food flavor enhancer market. The recent FDA grant is likely to pave way for robust growth for its applications in the near future.

Legalization of Cannabis is likely to pave way for significant new opportunities in the food flavor enhancer market in the near future. According to recent reports, there are over 88 beverage brands on the market with drinkable cannabis. Additionally, the total edibles market is steadily rising with rising demand for THC and cannabidiol products. This market could turn out to be a $1 bn opportunity by 2022.

Global Food Flavor Enhancer Market: Drivers and Restraints

The global food flavor enhancer market is expected to witness significant growth, thanks to rising demand in the food and beverage sector. Rising population, growing disposable incomes, and new opportunities like e-commerce are expected to result in significant growth. Additionally, technology automation is expected to bring down fast-food operation costs considerably in the near future. Recently, McDonalds installed several self-serving digital kiosks across the United States. This was a major hit in the stock as the company’s stock jumped to a record height. The increased technological advancements and growing demand for food products are likely to drive significant opportunities for growth and innovation in the food flavor enhancer market.   

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Global Food Flavor Enhancer Market: Geographical Analysis

The global food flavor enhancer market is expected to witness its highest revenue growth in North America. Rising disposable incomes, increased investments in food innovations, and emergence of new trends like veganism, and plant-based meats are major opportunities in the region. The food flavor enhancer market is also likely to witness robust growth in Europe. Growing consciousness about healthy foods, increased in demand for natural foods, and rising disposable incomes are expected to drive significant growth in the region. Asia Pacific is likely to witness the fastest CAGR growth during the forecast period.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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