The UK food flavor and enhancer market is projected to register a CAGR of 3.51% during the forecast period.The unceasing innovation and developments in the flavor market have been tapping the emerging food and beverage industries. Vegan flavors, for instance, have emerged as a boon for businesses dedicating operations for vegan products. Moreover, the rising vegan population in the country remains the primary factor boosting the market studied.
Key Highlights
- Moreover, the rising prevalence of clean label ingredients is further anticipated to boost the market during the forecast period.
Key Market Trends
Clean Label Holds Promising Future
For a country like the United Kingdom, consumers today are resourceful to identify the product formulation and the quality of ingredients used by the manufacturer. As the consumers learn more about their food and ingredients used during processing, they shape the products they want to find on the shelf. Moreover, the products with clean label claim, such as free-from, natural, and minimally processed, tend to most interest of the British consumers. As a result, the sales of products with clean label claims rose significantly, pulling the associated ingredient market from USD 1,333 million in 2016 to USD 1,529 million in 2019, in the United Kingdom.
Beverages Remained One Prominent Segment in the Market
In order to cater to the increasing demand for flavored carbonated beverage products, companies are increasingly focusing on making product lines based on tropical fruits and super fruits. This is driving the growth of the flavored beverage market. According to a recent study, British consumers spend almost GBP 1,500 in a year on beverage. Thus, the popularity of flavored premium spirits has been attracting the spirit companies to introduce new premium flavored drinks for the last couple of years. Also, the increasing popularity of premium mixers, as customers look for sophisticated options, is also driving the demand for food flavors for the alcoholic beverage industry.
Competitive Landscape
The UK food flavor and enhancer market faces high competition, with the presence of several country-based key players. Some of the companies operating in this market are Givaudan, Archer Daniels Midland, and Kerry Inc. IFF Inc. has been a market leader, owing to its technological advancement, as it holds various patents for its technological flavor solutions, which it offers to flavor manufacturers.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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Table of Contents
Methodology
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