DUBLIN--(BUSINESS WIRE)--The "Southeast Asia Food Flavor & Flavor Enhancer Market - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The Southeast Asian market for food flavors and flavor enhancers is expected to register a CAGR of 7.1% and 4.1% respectively, during the forecast period, 2018-2023.
Asia-Pacific dominates the global market of flavor enhancers, occupying about 80% of the market share, with China leading the market.
By application, the flavor market is segmented into beverage, dairy, savory, bakery & confectionery, and others. The beverage segment holds the major share of the market, with 34%, followed by savory & snacks. There is an increased demand for spray-dried flavors in the beverage segment, owing to their instant solubility.
Growing Demand for Ethnic Flavors
The Southeast Asian market for food flavors is categorized into natural flavors, synthetic flavors, and nature identical flavors. Chinese Szechuan, Indian tikka masala, Korean sushi, etc., are the popular flavors in the global market, which have driven the market.
Asian consumers are very sensitive to regional flavors and tastes, which has accelerated the sale of ethnic flavors. For instance, Nestle has introduced more than 300 flavors of their products in Japan, for instance wafer-and-chocolate snacks.
Increased tourism and consumer preference for traditional flavors are the major factors driving the flavor market in Southeast Asia. However, high price of vanilla and natural ingredients is likely to restrict the expansion of the food flavor market.
- Consumer Preference for Umami Taste
- Thailand and South Korea Possess Significant Growth Potential
Key Developments in the Market
- January 2017 - Givaudan acquired Activ International, which offers a range of natural and organic flavors, marine extracts, and seafood and vegetable-based culinary systems.
Key Topics Covered
2. Research Approach and Methodology
3. Market Overview
4. Market Dynamics
5. Market Segmentation
6. Competitive Landscape
7. List of Companies (Manufacturers and Suppliers), by Each Country
For more information about this report visit https://www.researchandmarkets.com/research/sm5zpt/southeast_asia?w=4