Bitterness Suppressors and Flavor Carriers Market Size to Grow at a CAGR of 4.6% During the Forecast Period 2021-2026

April 29 01:06 2021
Bitterness Suppressors and Flavor Carriers Market Size to Grow at a CAGR of 4.6% During the Forecast Period 2021-2026

Bitterness Suppressors and Flavor Carriers Market
Increasing Demand for Functional Food Products, as Well as Alcoholic and Non-Alcoholic Beverages, Are the Major Factors Driving the Growth of the Bitterness Suppressors and Flavor Carriers Market.

Bitterness Suppressors and Flavor Carriers Market size in 2020 is estimated to be $200 million, growing at a CAGR of 4.6% during the forecast period 2021-2026. Bitterness Suppressors is used to lower bitterness level in the medicines and food & beverages products. It includes various ingredients such as fats, salts, sugar and other flavours to lower the bitterness of food. Bitterness Suppressors helps to remove unpleasant taste and flavour from food. It enhances texture, sweetness and shelf life of the products. Increasing demand for functional food products, as well as alcoholic and non-alcoholic beverages, are the major factors driving the growth of the market. Moreover, people are more inclined towards healthier beverages owing to health awareness further enhance the overall market demand for Bitterness Suppressors and Flavor Carriers during the forecast period 2021-2026.

Bitterness Suppressors and Flavor Carriers Market Segment Analysis – By Category

Based on the Category, Bitterness Suppressors and Flavor Carriers Market is segmented into Bitterness Suppressors, Flavor Carriers. The flavour carriers segment is projected to dominate the market during the forecast period 2021-2026 owing to changing consumer preference towards nutritional supplements. The Bitterness Suppressors segment is forecast to be the fastest-growing segment and is projected to grow at a CAGR of 4.3% during the forecast period 2021-2026. This is mainly owing to growing demand for healthy drinks. Moreover, people are more inclined towards healthy food that are contributing to the growth of this segment.

Bitterness Suppressors and Flavor Carriers Market Segment Analysis – By Flavor Type

Based on the Flavor type, Bitterness Suppressors and Flavor Carriers Market is segmented into natural, artificial. In 2020, artificial segment is projected to dominate the market during the forecast period 2021-2026. This is mainly owing to its easy availability and being cheaper than natural flavor also contributing to the growth of this segment.

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Bitterness Suppressors and Flavor Carriers Market Segment Analysis – By Geography

Asia Pacific dominated the Bitterness Suppressors and Flavor Carriers market share accounting for 38% of the market in 2020. This is mainly owing to growing number of processed food industry in this region owing to rapid urbanization coupled with changing food consumption pattern of the people. According to International Food Policy Research Institute, food consumption pattern of the people is changing towards healthy food in countries such as China, Taiwan.
However, the North America region is projected to be the fastest-growing during the forecast period 2021-2026. This is owing to changing lifestyle of the people and changing food habits.

Bitterness Suppressors and Flavor Carriers Market Drivers

Increasing Demand for Healthy Beverages

Increasing demand of healthier beverages and functional beverages are some factors driving the growth of Bitterness Suppressors and Flavor Carriers market. Moreover, people are more health-conscious to boost immunity so they prefer low-calorie drinks with original taste also set to increase market growth.

Growing Demand for Functional Food Products

Growing demand for functional food products and changing food habits are some factors driving the growth of the market. Moreover, rising prevalence of obesity leads to rise in demand of nutritional food products further contributing to the growth of Bitterness Suppressors and Flavor Carriers Market. According to World Health Organization (WHO), around 39% of adults in the world are obese.

Bitterness Suppressors and Flavor Carriers Market Challenges

Presence of substitute products in the market and growing demand for organic natural flavor is challenging the growth of the market. Moreover, outbreak of COVID-19 around the world has impacted food and beverage industry. As people prefer homemade food for consumption so it decline the sales of product. Also disruptions of supply chain also impacted of Bitterness Suppressors and Flavor Carriers Market.

Bitterness Suppressors and Flavor Carriers Industry Outlook

Product launches, Merger & Acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Bitterness Suppressors and Flavor Carriers Market. Bitterness Suppressors and Flavor Carriers top 10 companies are Givaudan, DowDuPont, Cargill, Dohler, International Flavors and Fragrances, DuPont Tate & Lyle, Sensient Technologies Corporation, Symrise AG, Senomyx, Stepan Company.

Acquisitions/Product Launches:

In September 2018, Givaudan, leading player in flavours and fragrances has acquired Naturex, leader in plant based natural ingredients to expand their product portfolio of food and beverages and also to deliver natural products to the customers.

Key Takeaways

In 2020, Asia Pacific dominates the Bitterness Suppressors and Flavor Carriers Market owing to increasing consumption of convenience food products.

Growing consumption of healthy beverages is driving the market growth of Bitterness Suppressors and Flavor Carriers.

Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the Bitterness Suppressors and Flavor Carriers Market report.

Presence of substitutes and strict regulation by government authorities are challenging the growth of the market.

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