Market Trends of Australia and New Zealand Food Flavors and Enhancers Industry
This section covers the major market trends shaping the Australia & New Zealand Food Flavors & Enhancers Market according to our research experts:
Escalating Demand for Plant Derived Food Ingredients
The unceasing innovation and developments in the flavor market has been tapping the emerging food and beverage industries. Plant-derived vegan flavors in the food ingredients market have emerged as a boon for businesses dedicating operations for vegan products. Moreover, rising vegan population in the countries remain primary factor boosting the market studied. The top 10 ingredients being avoided by Australian consumers are: MSG, artificial preservatives, artificial flavors, artificial sweeteners, foods with BPA packaging, artificial colors, sugar, sodium, Antibiotics/hormones in animal feed. These ingredients are being avoided primarily because of their perceived impact on health. Underlying concerns about animal welfare majorly influences consumers to switch to proclaimed healthier diet, as does the longing for people to manage their weight.
Rising Demand for RTD Beverages and Frozen Desserts
Owing to the fast-paced lifestyle of the generation, consumers are increasingly inclining toward convenience food products, including instant soups, sauces, noodles, baked goods, and other ready meals, owing to their instant nature i.e. lesser preparation time and easy handling. However, despite the need to rely on comfort foods, consumers are reluctant to compromise on flavor. Younger age group in precise, are the primary consumer base constantly willing to discover varied culinary traditions, in interest of their taste buds. Continuous growth in the use of natural ingredients is expected to increase, as consumers prefer RTD beverages which are natural, fresh, lighter and which contain no preservatives, as opposed to artificial tasting soft drinks in both Australia and New Zealand. This has led to high product innovation in the market.
