Bitterness Suppressors and Flavor Carriers Market Projected to Garner Significant Revenues by 2023

April 27 05:51 2021
Bitterness Suppressors and Flavor Carriers Market Projected to Garner Significant Revenues by 2023

MarketsandMarkets™
The overall bitterness suppressors and flavor carriers market is projected to grow from USD 192 million in 2018 to USD 244 million by 2023, at a CAGR of 4.9%

The report Bitterness Suppressors and Flavor Carriers Market by Form (Liquid, Solid), Category (Solvents, Fats, Starches, Sugars), Application (Food, Beverages, Pharmaceuticals), Flavor Type (Natural, Artificial), Availability, and Region – Global Forecast to 2023″, The bitterness suppressors and flavor carriers market is estimated to be at USD 192 million in 2018 and is projected to reach USD 244 million by 2023 at a CAGR of 4.9%. Owing to factors such as growing industrialization; increasing environmental concerns; growing consumer awareness; producers’ inclination toward cost efficiency and profitability; and increasing consumer demand for low-calorie products, for nutraceuticals, and for convenience and functional food and beverages, the global market for bitterness suppressors and flavor carriers is projected to witness significant growth during the forecast period.

Bitterness Suppressors and Flavor Carriers Market

By category, the flavor carriers segment is projected to be a larger contributor to the overall bitterness suppressors and flavor carriers market during the forecast period.

The bitterness suppressors and flavor carriers market has been segmented, on the basis of category, into bitterness suppressors and flavor carriers. The flavor carriers segment is projected to dominate the market during the forecast period, in terms of value; but the market for bitterness suppressors is projected to grow at a higher CAGR between 2018 and 2023. The shift in consumer preferences toward healthier food and beverages is driving the bitterness suppressors and flavor carriers market.

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Rising global demand for healthier beverages and easy blending properties of liquid forms is setting the stage for the liquid form to dominate the global bitterness suppressors and flavor carriers market.

The bitterness suppressors and flavor carriers market is segmented, on the basis of form, into liquid and solid. The market for the liquid form of bitterness suppressors and flavor carriers is projected to grow at a higher CAGR between 2018 and 2023 than solid carriers. The increased production of healthier and functional beverages and the excellent blending properties of the liquid form of flavor carriers are positively impacting the overall growth of liquid flavor carriers.

Growing demand for alcoholic and non-alcoholic beverages, along with healthy dietary substitutes, positively impact the demand for bitterness suppressors and flavor carriers.

The bitterness suppressors and flavor carriers market is segmented, on the basis of application, into food, beverages, and pharmaceuticals. The market for beverages is projected to grow at the highest CAGR between 2018 and 2023. 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.

Asia Pacific is projected to account for the largest market share by the projected year.

Asia Pacific is projected to account for the largest market share by 2023. Due to high population concentration in this region, there is an increasing demand for flavors used in the food, pharma, and nutraceutical segments; this, in turn, is fueling the demand for bitterness suppressors and flavor carriers in this region. Rising disposable income, changing lifestyles, and an increase in demand for functional food products and beverages are also resulting in an increased demand for flavor carriers in the region. In addition, the market is driven by the growing demand for beverages in developing countries such as China and India. Also, due to rising health concerns and higher incomes, coupled with better government initiatives, the pharmaceutical market in this region is also expected to grow. These factors together are fueling the growth of the bitterness suppressors and flavor carriers market in the Asia Pacific region.

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This report includes a study of the marketing and development strategies, along with the product portfolios, of the leading companies. It includes profiles of leading companies such as 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).

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