The flavor enhancers market is projected to grow at a CAGR of 5.6% from 2017 to 2022. Increasing popularity of convenience food & beverage products, and high consumption of monosodium glutamate (MSG) as an umami flavor enhancer are the factors driving the market. The key market players have adopted strategies such as acquisitions, expansions, and new product launches & developments to expand their market share in the flavor enhancers market. The key players who adopted these strategies are Cargill (U.S.), Tate & Lyle PLC (U.K.), Associated British Foods plc (U.S.), Corbion N.V. (Netherlands), Sensient Technologies (U.S.), Novozymes A/S (Denmark), E.I. DuPont de Nemours and Company (U.S.), Angel Yeast Co., Ltd (China), Innova Flavors (U.S.), Savoury Systems International, Inc. (U.S.), Senomyx, Inc. (U.S.), and Ajinomoto Co., Inc. (Japan)
Tate & Lyle PLC (U.K.)
Tate & Lyle PLC is a leading provider of quality ingredients and solutions in the food & beverage, pharmaceutical, personal care, and industrial ingredient industries. It operates through two global divisions, namely, specialty food ingredients and bulk ingredients. It has subsidiaries situated in countries, such as, China, U.S., Brazil, Sweden, and Italy among others. It has a strong viability for future market sustenance as the company’s key growth strategy is expansion to increase its reach. For instance, the company, expanded its direct sales capabilities by setting up a new sales office in Tokyo, Japan in 2014. This helped the company to penetrate in the Japanese market and other countries in the Asia-Pacific region.
Ajinomoto Co., Inc. (Japan)
Ajinomoto Co., Inc. is engaged in the manufacture, distribution, and sales of food products, amino acids, and pharmaceuticals. The company has business sites in 27 countries with 119 production plants; and sells its products in more than 130 countries. Ajinomoto U.S.A., Inc. operates as a subsidiary of Ajinomoto Co., Inc. The company focuses on expansions to widen its global reach and boost its revenue. The company uses expansions as its key growth strategy, to enhance its reach in the emerging markets such as Japan, India, and Nigeria and is also strategizing to expand its business in Thailand and Vietnam to boost the sales of flavor enhancers in different restaurants. For instance, it expanded its production capacity in Thailand in August 2016, the company invested USD 23 million that would help it to meet the growing demand for flavor seasonings in the country.
Flavor Enhancers Market by Type (Acidulants, Glutamates, Hydrolyzed Vegetable Proteins, Yeast Extracts), Application (Processed & Convenience Foods, Beverages, Meat & Fish Products), Form, Source, & Region - Global Forecast to 2022
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