The bitterness suppressors and flavor carriers market is estimated at USD 192 million in 2018 and is projected to grow at a CAGR of 4.9%, to reach USD 244 million by 2023
NEW YORK, Nov. 28, 2018 /PRNewswire/ -- The bitterness suppressors and flavor carriers market is projected to grow at a CAGR of 4.9%, and the key drivers include the growing functional foods market, growth in R&D for enhanced application of encapsulation technology, and increasing applications in the pharmaceutical industry.
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The bitterness suppressors and flavor carriers market is estimated at USD 192 million in 2018 and is projected to grow at a CAGR of 4.9%, to reach USD 244 million by 2023. The growth of the market is driven by the demand for functional and nutrient-rich foods. The key drivers for the market are the increasing applications of bitterness suppressors in the pharmaceutical industry and the R&D investments in carrier substances for encapsulating flavors. The growing demand for healthy food and beverages has also resulted in an increased demand for bitterness suppressors. APAC is projected to dominate the flavor carriers market during the forecast period. The growing population, the increasing disposable income, and the rising demand for processed and convenience food products are expected to drive the market growth in the region. Some of the factors restraining the growth of the market include stringent regulations and government policies and the use of alternate technologies for bitterness suppressors due to their high cost.
The flavor carriers segment to lead the market with a larger share in 2018.
On the basis of category, the bitterness suppressors and flavor carriers market is led by the flavor carriers segment, with a major contribution from the solvents sub-category of flavor carriers.The increasing investments by the flavor houses in Asia Pacific and the growing demands for processed, functional, and convenience foods are the key drivers for the market.
Shift in consumer preferences from conventional food and beverages to functional food and beverages is also one of the key drivers of the market.
The liquid form of bitterness suppressors and flavor carriers to account for a larger share in 2018.
Based on form, the liquid segment of bitterness suppressors and flavor carriers is estimated to account for a larger market share in 2018.Liquid flavor carriers have excellent blending properties and increase the solubility of many flavor compounds.
Liquid flavor carriers and bitterness suppressors are generally used in syrups and beverages. Since the demand for beverages is on the rise, the overall demand for liquid bitterness suppressors and flavor carriers is expected to rise.
Beverages to be the largest application segment of bitterness suppressors and flavor carriers.
Based on application of bitterness suppressors and flavor carriers, the beverages segment is projected to be the fastest-growing during the forecast period.The growing demand for alcoholic and non-alcoholic beverages—coupled with dietary requirements such as the requirement for low sugar— is driving the overall beverages market.
Due to the high potential growth of the beverage industry, the applications of bitterness suppressors and flavor carriers in the beverage industry is expected to grow fast.
The artificial segment of the flavor carriers market to lead the market with a larger share in 2018.
On the basis of flavor type, the flavor carriers market is led by the artificial segment. The market for artificial flavor carriers is much higher than the natural ones because they are readily and easily available and are much cheaper than the naturally derived ones.
High growth is projected in the South American flavor carriers market.
South America is projected to be the fastest-growing flavor carriers market for the period considered for this study.The South American bitterness suppressors and flavor carriers market includes Brazil, Argentina, and other countries such as Chile, Peru, Uruguay, Venezuela, and Colombia.
Brazil and Argentina are the emerging countries with a majority of their population having a high spending capacity, due to the growth of its middle-class population and economic development.With the increase in the development of the food processing and beverage sectors in these regions, there is an associated development of the flavor industry.
This development is, in turn, driving the market for flavor carriers and bitterness suppressors in the region.
Break-up of Primaries:
• By Company Type: Tier 1 – 45%, Tier 2 – 22%, and Tier 3 – 33%
• By Designation: C Level – 43%, D Level – 57%
• By Region: North America –45 %, Europe –30%, Asia-Pacific – 15%, South America – 5%, and RoW – 5%
The key players in the market include Firmenich (Switzerland), Döhler (Germany), Givaudan (Switzerland), DowDuPont (US), Cargill (US), International Flavors and Fragrances (IFF) (US), Symrise (Germany), Kerry (Ireland), Sensient Technologies (US), Senomyx (US), Stepan Company (US), and DuPont Tate & Lyle (US).
Research Coverage:
The report segments the bitterness suppressors market, with respect to category, form, application, and region.The flavor carriers market is also segmented on the basis of category, form, application, availability, flavor type, and region.
In terms of insights, this report has focused on various levels of analyses—competitive landscape, end-use analysis, and company profiles— which together comprise and discuss the views on the emerging & high-growth segments of the global bitterness suppressors and flavor carriers market, high-growth regions and countries, government initiatives, drivers, restraints, opportunities, and challenges.
Reasons to buy this report:
• To get a comprehensive overview of the bitterness suppressors and flavor carriers market
• To gain wide-ranging information about the top players in this industry, their product portfolios, and key strategies adopted by them
• To gain insights on the major countries/regions, where the use of bitterness suppressors and flavor carriers is flourishing
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