NEW YORK, March 25, 2024 /PRNewswire/ — The global food flavor and enhancer market in Spain size is estimated to grow by USD 278.47 mn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 7.01% during the forecast period. The Food Flavor and Enhancer Market in Spain is projected to expand due to rising demand for processed foods, particularly dairy-based drinks, energy drinks, functional beverages, superfruits, vegetables, and herbs. Consumers are attracted to these products’ taste, appearance, and texture, driving market growth. Spain’s growing workforce further fuels this trend.
Technavio has announced its latest market research report titled Food Flavor and Enhancer Market in Spain 2024-2028
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Food Flavor And Enhancer Market In Spain Scope |
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Report Coverage |
Details |
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Base year |
2023 |
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Historic period |
2018 – 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.01% |
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Market growth 2024-2028 |
USD 278.47 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
6.73 |
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Regional analysis |
Spain |
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Performing market contribution |
Europe at 100% |
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Key countries |
Spain and Europe |
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Key companies profiled |
Archer Daniels Midland Co., Bell Flavors and Fragrances GmbH, Cargill Inc., DALLANT SA, Firmenich SA, Flavorchem Corp, Givaudan SA, Huabao International Holdings Ltd., International Flavors and Fragrances Inc, Kerry Group Plc, Koninklijke DSM NV, Lucta SA, MANUFACTURAS TABERNER SA, McCormick and Co. Inc., Robertet SA, Solvay SA, Symrise AG, T. Hasegawa Co. Ltd., Takasago International Corp., TER Chemicals GmbH and Co. KG, and V. Mane Fils |
Segment Overview
This food flavor and enhancer market in Spain report extensively covers market segmentation by Product (Natural flavors, Artificial flavors) Application (Bakery and confectionery, Food and nutrition, Beverages, Dairy and frozen desserts, Others) Distribution Channel (Offline, Online) Geography (Europe)
Market segmentation by Product
The Food Flavor and Enhancer Market in Spain caters primarily to the bakery and confectionery sector. Key flavors and enhancers include vanilla, cinnamon, ginger, garlic powder, almond essence, and various fruit extracts. Vanilla and almond are the most widely used, either as the primary or secondary flavoring agents. Extracts are predominantly utilized in cakes, cookies, pastries, fillings, and buttercreams. These baked goods are considered indulgences, purchased and consumed for pleasure rather than as dietary staples. Despite bread being a dietary staple, it is also subject to flavor enhancement to elevate consumer experience. The Spanish Food Flavor and Enhancer Market reflects the growing trend towards gourmet and artisanal baked goods, offering innovative and high-quality flavor solutions to cater to evolving consumer preferences.
Market Overview
The Food Flavor and Enhancer Market in Spain is a segment of the global Packaged Foods and Meats Market, as classified by Technavio. This market encompasses vendors engaged in food processing to enhance food safety and extend shelf life. The market’s size is determined by the consolidated revenue of these vendors, excluding those involved in food processing equipment manufacturing or packaged alcoholic and non-alcoholic beverages production, including mineral waters.
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The food flavor and enhancer market in Spain experiences growth due to premiumization trends. Dairy-based drinks, energy drinks, functional beverages, superfruits, and vegetables/herbs with unique, high-quality flavors are in demand. Major vendors in Vietnam respond by manufacturing a variety of premium flavors, catering to health-conscious consumers and expanding their consumer base.
The Food Flavor and Enhancer Market in Spain is witnessing a shift towards natural ingredients, with organic options gaining popularity. Consumers prefer dairy-free, energy, and functional beverages with organic fruit and herb flavors. Superfruits and vegetables are also in demand as natural flavoring agents, free from synthetic additives like gluten and GMOs. These natural extracts enhance food taste while retaining original aroma.
Insights on Market Drivers, trends, & Challenges, historic period(2018 – 2022) and forecast period(2024-2028)- Request a sample report!
Research Analysis
The Food Flavor and Enhancer Market in Spain is experiencing significant growth, driven by consumer preference for enhanced taste, aroma, and sensory experiences in their culinary traditions. Regulations regarding clean label products and health and wellness trends are influencing the market dynamics, leading to an increased demand for natural flavors and botanical extracts. Organic flavors, such as those derived from berries, are gaining popularity due to their antioxidant properties and health-consciousness. Culinary tourism is also playing a role in shaping consumer preferences, as travelers seek authentic gastronomic experiences. Technological advancements are enabling the production of innovative, high-quality flavorings and enhancers, further fueling market growth. Overall, the Food Flavor and Enhancer Market in Spain is poised for continued expansion, as it caters to the evolving tastes and preferences of health-conscious consumers.
Market Research Overview
The Food Flavor and Enhancer Market in Spain is a significant sector, with consumers seeking innovative and high-quality products. The market includes various categories such as natural flavors, artificial flavors, and functional ingredients. Consumers in Spain are increasingly preferring natural and clean-label products, driving demand for natural flavors and extracts. The market also witnesses growing trends towards plant-based diets and functional foods, leading to increased usage of botanical extracts and functional ingredients. The Spanish food industry is known for its rich culinary heritage, and companies are leveraging this by introducing new and authentic food flavors. Additionally, the market is witnessing the entry of international players, leading to increased competition and innovation. Overall, the Food Flavor and Enhancer Market in Spain is expected to grow steadily, driven by changing consumer preferences and trends.
Market Drivers
The Food Flavor and Enhancer Market in Spain is projected to experience significant growth during the forecast period. This expansion is primarily driven by the increasing demand for processed foods, which account for a large consumer base due to their appealing taste, appearance, and texture. Nearly all processed foods incorporate natural or artificial flavors as additives. The growing working population in Spain is a significant contributing factor to this trend. Overall, the Food Flavor and Enhancer Market in Spain is poised for substantial growth in the coming years.
Market Challenges
The Food Flavor and Enhancer Market in Spain is witnessing significant growth due to the increasing consumer preference for natural and organic food products. With rising awareness about the health risks associated with synthetic ingredients, there is a surge in demand for organic food flavors derived from raw materials such as fruits, vegetables, and beans. These pure extracts not only help retain the original taste and aroma of natural ingredients but also enhance the overall flavor profile of food products. The market for organic food flavors in Spain is thriving, offering a viable solution for food manufacturers seeking to cater to the evolving consumer preferences while adhering to stringent regulations against genetically modified organisms (GMOs) and gluten.
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Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio