Market Snapshot
| Study Period: | 2016 - 2026 |
| Base Year: | 2020 |
| CAGR: | 3.7 % |
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Market Overview
Canada Food Flavor and Enhancer market is projected to grow at a CAGR of 3.7% during the forecast period.
- There is a rising demand for natural food flavors and consumers are seen avoiding artificial colors and flavors owing to the increasing health hazards that occur in consumption of synthetic/artificial flavors, which has resulted in an increased demand for natural food flavors.
- The market is driven by the changing lifestyle, increasing demand for healthy ingredient, and influential trend for new exotic and ethnic flavors. With rising preference for premium-quality products, including premium lines of seasonings and sauces, the market is growing rapidly.
Scope of the report
Canada food flavor and enhancer market is segmented by type that includes flavors and flavor enhancers. The flavor section is further segmented into natural flavors, synthetic flavors and nature identical flavors. Based on Application, the market is segmented into bakery, confectionery, dairy products, beverages, savory snacks, soups and sauces and others.
| By Type | |||||
| |||||
| Flavor Enhancers |
| By Application | |
| Bakery | |
| Confectionery | |
| Dairy Products | |
| Beverages | |
| Savory Snacks | |
| Soups and Sauces | |
| Others |
Key Market Trends
Increase in Demand for Clean Label Ingredients
The growing consumer preference for innovative flavors, convenience, and natural ingredients such as flavors has augmented the clean label ingredient market. There has been a growing consumer demand for processed food and the expectations for safer and healthier ingredients have in turn, increased the need for introduction of natural flavors across diverse applications. The manufacturers are also adopting the strategy of incorporating new natural flavors that can improve the nutritional and sensory profile of the product. The health enhancing properties of natural flavors, combined with the organic properties in natural products, are also increasing their adoption.
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Rising Demand of Natural Food Flavors
The consumers in the country are strongly inclining toward keto diets, indicating the popularity of organic foods. Thus, plant-based eating has become mainstream, which, in turn, is driving the demand for natural flavors across different end-user industries. Natural flavoring agents that provide multiple benefits, such as reduced sugar, fat, and sodium, among others, and impart the desired flavors are being adopted by the food processing industries. Thus, the country’s fast paced meat processing industry strongly demands such flavors to produce reduced sodium end products for health-conscious consumers. Moreover, the flavor manufacturers are actively launching different flavors to cater to the rising consumption of ready-to-eat meat products and processed meat products, such as beef and pork, among others, to broaden their consumer base in the country.
Competitive Landscape
Canada food flavor and enhancer market is consolidated with the major players holding the maximum share in the market. The key strategies adopted by the companies are new product innovation, mergers and acquisitions, partnerships and expansion. The major players are Givaudan, Firmenich, Kerry Group, International Flavors and Fragrances Inc. among others.
Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions & Market Definition
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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3.1 Market Overview
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Type
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5.1.1 Flavors
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5.1.1.1 Natural Flavors
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5.1.1.2 Nature-Identical Flavors
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5.1.1.3 Synthetic Flavors
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5.1.2 Flavor Enhancers
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5.2 By Application
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5.2.1 Bakery
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5.2.2 Confectionery
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5.2.3 Dairy Products
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5.2.4 Beverages
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5.2.5 Savory Snacks
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5.2.6 Soups and Sauces
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5.2.7 Others
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6. COMPETITIVE LANDSCAPE
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6.1 Most Active Companies
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6.2 Most Adopted Strategies
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6.3 Market Share Analysis
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6.4 Company Profiles
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6.4.1 Givaudan
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6.4.2 Firmenich
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6.4.3 Kerry Group
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6.4.4 International Flavors and Fragrances Inc.
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6.4.5 Koninklijke DSM N.V.
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6.4.6 Archer Daniels Midland Company
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6.4.7 Takasago International Corporation
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6.4.8 Flavorcan International Inc.
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6.4.9 Aromatics+Flavors Inc.
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6.4.10 Corbion NV
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*List Not Exhaustive -
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Canada Food Flavor and Enhancer Market market is studied from 2016 - 2026.
What is the growth rate of Canada Food Flavor and Enhancer Market?
The Canada Food Flavor and Enhancer Market is growing at a CAGR of 3.7% over the next 5 years.
Who are the key players in Canada Food Flavor and Enhancer Market?
Givaudan, Firmenich, Kerry Group, International Flavors and Fragrances Inc., Koninklijke DSM N.V. are the major companies operating in Canada Food Flavor and Enhancer Market.
