Flavor Enhancer Market reached US$18 Billion to US$21 Billion; the quality food industry is booming rapidly, consumers are very much into processed food, or convenience food, adding flavors to that food is the job of flavors. Through this press release, we present the top five companies with the highest market share, recent mergers and acquisitions, significant developments in the market and new funding or investments in these leading firms.
5 Companies With the Biggest Market Shares
Givaudan:
Givaudan is a Swiss multinational and one of the global leaders in the flavor and fragrance industry. The firm' serves as a market leader of flavor enhancers used in a range of food and beverage applications. Givaudan's dedication to new creations and sustainability has cemented its status as an industry leader.
International Flavors Fragrances Inc. (IFF):
This US company builds flavors and fragrances for food, beverages, and personal care and hygiene products. Its wide range of flavor enhancers appeals to a wide range of consumer preferences.
Takasago International Corporation:
Japan-based Takasago is a major flavor and fragrance company, having been founded in 1920. With its cutting-edge rd capabilities and a focus on creating proprietary high-quality flavor enhancers, the company.
Sensient Technologies Corporation :
A US company focused on unique flavor solutions. To cater to the changing needs of consumers, the company produces a variety of flavor enhancers, prioritizing natural and organic ingredients.
Mane SA:
French-based manufacturer, Mane SA is a leading flavor and fragrance manufacturer. Through high-quality and natural enhancers manufacturing, the company has captured a fair share in the international market.
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Recent Mergers and Acquisitions
On August 1, 2024, the Irish nutrition company Glanbia agreed to acquire the US-based Flavor Producers for an initial payment of $300 million, and a deferred payment of up to $55 million if it achieved certain targets in 2024. Flavor Producers is a manufacturer of organic and natural flavors and extracts designed specifically for food and beverage applications. Glanbia to Enhance Nutrition Platforms with Complementary Business Development in Complementary Businesses Glanbia said that it expects to complete the deal in the first half of 2025, when Flavor Producers will then be integrated into Glanbia's nutritional segment.
Recent Developments in the Market
Givaudan in May 2022 launched NaNino+, a plant-based flavoring ingredient developed as a nitrite alternative for use in processed meat products. This development is in line with the increasing consumer preference for natural and healthier food additives.
Furthermore, in June 2021, Kerry Group supported with the opening of the new taste facility in Latin America. This expansion increases the company's ability to deliver localized flavor solutions that meet the diverse tastes of the Latin American market.
New Funding or Investments
REDUCED, a Danish startup, raised €2.9 million in seed funding in June 2022. This funding round was led by Vækstfonden and VAR Ventures in collaboration with Rockstart, Pollen Capital and business angels. REDUCED intends to use the funds to finalize its proprietary technology to produce plant-based flavor-enhancers, build production capabilities and recruit talent.
Conclusion
Understand, the data is not cost effective up to the date until October 2023 Top players like Givaudan, IFF, Takasago, Sensient Technologies, and Mane SA are paving the way in this development by way of innovation and strategic expansion. The industry momentum is underscored through mergers, acquisitions, and fundraising efforts.
