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(HomeGarden247.com, February 17, 2020 ) The flavor enhancers market is projected to reach a value of USD 8.18 billion by 2022, at a CAGR of 5.6% from 2017 to 2022. The key factors driving the market include increasing popularity of convenience food & beverage products, and high consumption of monosodium glutamate (MSG) as an umami flavor enhancer, and rising demand for convenience food products in the market. Flavor enhancers, on the basis of type, is segmented into acidulants, glutamates, hydrolyzed vegetable protein, yeast extracts, and others (sweetness enhancers and nucleotides). Based on application, the market is broadly segmented into processed & convenience foods, beverages, meat & fish products, and others (bakery, dairy, confectionery products, and condiments). The major forms of flavor enhancers are powder and liquid & semi-liquid. On the basis of region, the market has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
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The demand for natural ingredients in food & beverage is one of the major drivers that is expected to increase the demand for nucleotides especially in developed regions, such as North America and Europe. On the other hand, the Asia-Pacific region is witnessing a steady rise of health-conscious consumers from leading countries, such as India and China which is expected to augment the demand for nucleotides during the forecast period.
On the basis of form, the powder segment is expected to witness the fastest growth during the forecast period. Flavor enhancers are commonly used in the powdered form as it is easier to use compared to liquid & semi-liquid form of flavor enhancers. Several types of flavor enhancers are commonly used in powdered form in the food & beverage industry, as it provides easy scaling and easy disbursement of flavor components by dry blending. The market for powdered flavor enhancers is expected to grow in the Asia-Pacific region due to the growing demand for powdered juice drinks, encouraging flavor enhancer manufacturers to offer more products in powdered form.
On the basis of application, flavor enhancers are expected to witness fastest growth in the beverages segment. Increasing awareness among consumers regarding healthy lifestyles is one of the major factors that has given rise to the demand for fruit juices and milkshakes, which is expected to contribute to the consumption of flavor enhancers. Moreover, the rise in acceptance of energy & sports drinks in North America, Asia-Pacific, and Europe is also expected to support the overall growth of the flavor enhancers market.
On the basis of type, yeast extracts is projected to witness the fastest growth during the forecast period. Owing to their natural sourcing, natural yeast extracts are used to produce natural flavor enhancers and are hence projected to witness a substantial growth opportunity in the flavor enhancers market.
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On the basis of region, Asia-Pacific is expected to witness the fastest growth during the forecast period. The demand for processed & convenience processed foods application is rapidly growing in this region since there is a high demand for fast food items, snacks, and processed beverages. This is one of the major factors driving the flavor enhancers market in Asia-Pacific. Furthermore, the processed food market in the region is currently undergoing a dramatic transformation in response to rapid urbanization, diet diversification, and the liberalization of foreign direct investment in the food sector. This is expected to contribute to the growth of the flavor enhancers market.
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