Market Overview:
The global seafood flavor market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for processed food, soups & sauces, and instant foods. In addition, the growing population and rising income levels are also contributing to the growth of the global seafood flavor market. The natural seafood flavors segment is projected to grow at a higher CAGR than the artificial seafood flavors segment during the forecast period. This can be attributed to consumer preference for natural ingredients over artificial ingredients in food products.
Product Definition:
The flavor of seafood is a savory, briny taste that comes from the ocean. It is important for adding depth and complexity to dishes.
Natural Seafood Flavors:
Natural seafood flavors are obtained from edible marine organisms, including fish, mollusks, crustaceans and other aquatic invertebrates. These flavors are extracted either by mechanical or chemical processes without the use of any harmful chemicals. Natural seafood flavor is used as a substitute for salt in food products such as processed meat, frozen meals and canned fish whereas natural flavoring agents are also used to enhance taste in beverages such as fruit juices & soft drinks.
Artificial Seafood Flavors:
Artificial seafood flavors are chemicals that are used to imitate the taste of seafood. It is usually produced by taking a base of fish oil and flavoring it with various other ingredients such as monosodium glutamate (MSG), potassium chloride, and ethyl alcohol. The end product has an identical chemical composition like that of natural seafood but it is often times sweeter than the latter due to the addition of sugars in artificial flavors.
Application Insights:
The processed food segment accounted for the largest revenue share of over 40% in 2017. The demand for seafood flavors in this application is expected to witness a growth on account of its use in various products including soy sauce, vinegar, ketchup and other sauces.
The soups & sauces segment is also likely to register a notable CAGR during the forecast period owing to an increase in consumption of canned soup and packaged foods such as bouillon cubes and stock powder. In addition, increasing utilization of flavored oil such as garlic, parsley and thyme among others will further boost product demand over the next few years.
In terms of volume, instant foods are anticipated to expand at a CAGR around 4% from 2018 to 2030 on account of consumers¢â‚¬â„¢ preference towards ready-to-eat products that do not require cooking or preparation prior to eating them.
Regional Analysis:
North America accounted for the largest share of more than 35.0% in 2017 owing to high demand from processed food and soup applications. The region is expected to maintain its dominance over the forecast period due to increasing consumption of seafood flavored products as a part of diet and increasing awareness about health benefits associated with it.
Asia Pacific is anticipated to be one of the fastest growing regions, registering a CAGR close to 6.0% during the forecast period on account of rising product demand in countries like China, India, Thailand, Singapore and Japan among others owing their large population base along with improving living standards which has led them adopting western culture including food preferences thus resulting into increased market penetration for seafood flavors over next few years.
Growth Factors:
- Increasing demand for seafood due to its health benefits is driving the growth of the seafood flavor market.
- The increasing popularity of sushi and other seafood dishes is also propelling the growth of this market.
- The growing use of natural flavors in food products is contributing to the expansion of the seafood flavor market.
- The rising demand for convenience foods is fueling the growth of this market as well as that for processed and frozen seafood products, which are often flavored with various types of Seafood Flavors . 5) Technological advancements in food processing are providing opportunities for manufacturers to develop innovative new flavors that appeal to consumers’ taste buds, thus boosting sales in the global Seafood Flavor market
Scope Of The Report
Report Attributes
Report Details
Report Title
Seafood Flavor Market Research Report
By Type
Natural Seafood Flavors, Artificial Seafood Flavors
By Application
Processed Food, Soups & Sauces, Instant Foods, Others
By Companies
Adare Food Ingredients Pvt Ltd., NorthTaste Flavourings Ltd., Givaudan, GOGIA CHEMICAL INDUSTRIES PVT. LTD., Innova Flavors, FLAVORCAN INTERNATIONAL INC., Firmenich, Nikken Foods Co.,Ltd., Kanegrade Ltd., Seafood Flavours A/S
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
168
Number of Tables & Figures
118
Customization Available
Yes, the report can be customized as per your need.
Global Seafood Flavor Market Report Segments:
The global Seafood Flavor market is segmented on the basis of:
Types
Natural Seafood Flavors, Artificial Seafood Flavors
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Processed Food, Soups & Sauces, Instant Foods, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Adare Food Ingredients Pvt Ltd.
- NorthTaste Flavourings Ltd.
- Givaudan
- GOGIA CHEMICAL INDUSTRIES PVT. LTD.
- Innova Flavors
- FLAVORCAN INTERNATIONAL INC.
- Firmenich
- Nikken Foods Co.,Ltd.
- Kanegrade Ltd.
- Seafood Flavours A/S
Highlights of The Seafood Flavor Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Natural Seafood Flavors
- Artificial Seafood Flavors
- By Application:
- Processed Food
- Soups & Sauces
- Instant Foods
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Seafood Flavor Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Seafood flavor is a characteristic taste that seafoods, such as shrimp, crab, and lobster, can have. It can be mild or strong depending on the seafood.
Some of the major players in the seafood flavor market are Adare Food Ingredients Pvt Ltd., NorthTaste Flavourings Ltd., Givaudan, GOGIA CHEMICAL INDUSTRIES PVT. LTD., Innova Flavors, FLAVORCAN INTERNATIONAL INC., Firmenich, Nikken Foods Co.,Ltd., Kanegrade Ltd., Seafood Flavours A/S.
The seafood flavor market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Seafood Flavor Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Seafood Flavor Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Seafood Flavor Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Seafood Flavor Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Seafood Flavor Market Size & Forecast, 2020-2028
4.5.1 Seafood Flavor Market Size and Y-o-Y Growth
4.5.2 Seafood Flavor Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Natural Seafood Flavors
5.2.2 Artificial Seafood Flavors
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Processed Food
6.2.2 Soups & Sauces
6.2.3 Instant Foods
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Seafood Flavor Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Seafood Flavor Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Natural Seafood Flavors
9.6.2 Artificial Seafood Flavors
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Processed Food
9.10.2 Soups & Sauces
9.10.3 Instant Foods
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Natural Seafood Flavors
10.6.2 Artificial Seafood Flavors
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Processed Food
10.10.2 Soups & Sauces
10.10.3 Instant Foods
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Natural Seafood Flavors
11.6.2 Artificial Seafood Flavors
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Processed Food
11.10.2 Soups & Sauces
11.10.3 Instant Foods
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Natural Seafood Flavors
12.6.2 Artificial Seafood Flavors
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Processed Food
12.10.2 Soups & Sauces
12.10.3 Instant Foods
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Natural Seafood Flavors
13.6.2 Artificial Seafood Flavors
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Processed Food
13.10.2 Soups & Sauces
13.10.3 Instant Foods
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Seafood Flavor Market: Competitive Dashboard
14.2 Global Seafood Flavor Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Adare Food Ingredients Pvt Ltd.
14.3.2 NorthTaste Flavourings Ltd.
14.3.3 Givaudan
14.3.4 GOGIA CHEMICAL INDUSTRIES PVT. LTD.
14.3.5 Innova Flavors
14.3.6 FLAVORCAN INTERNATIONAL INC.
14.3.7 Firmenich
14.3.8 Nikken Foods Co.,Ltd.
14.3.9 Kanegrade Ltd.
14.3.10 Seafood Flavours A/S
