Market Share of Flavor Enhancer Industry
The market for flavor enhancers is highly fragmented and witnessed significant business changes over the past few years. The market is highly competitive, with many local and international players emphasizes to gain a competitive advantage by adopting strategies such as new and innovative food launches, expansion, and partnerships. The acquisition offered potential opportunities, such as vertical integration, access to new ingredients, and increased manufacturing capabilities with additional cost savings. Product launches and joint ventures are the other strategies widely adopted by the key players. For instance, in June 2022, Givaudan and Manus Bio came together and launched BioNootkatone, a clean-label citrus ingredient that can be used in various food and beverage products. BioNootkatone is made without the use of citrus ingredients and uses as a non-GMO sugar source.
Flavor Enhancer Market Leaders
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Givaudan
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International Flavors & Fragrances Inc.
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Firmenich SA
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Sensient Technologies Corporation
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Symrise AG
*Disclaimer: Major Players sorted in no particular order
