FLAVOUR CARRIERS MARKET - KEY RESEARCH FINDINGS
- The flavour carriers market will exhibit a CAGR of 4.8% between 2020 and 2030.
- Flavour carriers are available in liquid and solid forms and find applications across flavours, extracts, aroma chemicals, colours, beverages, dairy, savoury and bakery & confectionery.
- By form, the solid form of flavour carriers are anticipated to cover the maximum share in the market.
- Expansion of pharmaceuticals segments in developing economies and the launch of advanced and natural flavour carriers are expected to create growth opportunities for flavour carriers market.
- Asia-Pacific is anticipated to exhibit considerably high demand for flavour carriers during the forecast period.
KEY FACTORS SHAPING THE FLAVOUR CARRIERS MARKET
Flavour carriers Offer a Huge Scope in Sports and Nutrition Industry
The increasing focus on health and wellness has led to higher demand for sports and nutrition supplements. The biggest challenge with protein supplement is the bitter taste. Quick absorption of hydrolysates containing free amino acids and BCAA-based beverages are the most difficult ingredients for flavour formulators.
Although progress has made masking of such bitter compounds possible in flavour-masking market. Masking typically occurs eitherdone by adding a strong flavorflavour that supersedes the bitter notes or by adding compounds that block receptors on taste buds and prevent bitter compounds from binding. The sports nutrition industry has benefited significantly from the flavorflavour masking market agents and their joint efforts with flavour masking agent producers have helped bring delicious items packed with nutrients to health-conscious consumers.
While the number of coronavirus continues to rise, concerns of a global pandemic and consequent economic impacts have increased, creating bottlenecks to growth for the global flavour carriers markets. Furthermore, supply chain disruptions could hamper the market to an extent. Suppliers of flavours expect a decrease in demand as the disease spreads across the world. Given the scenario, the demand witnessed in the healthcare segment may get impacted as well due to ongoing curbs and restrictions
Inclination to Healthy Lifestyles Brings the Rise ofBoosts Popularity of Liquid Form
It is expected that the liquid form of flavour carriers will account for maximum share in global market. The recent launches of health drinks will aid the expansion of the market. This is because of the excellent mixing properties of flavour carriers in liquid form. They are used to enhance the flavour, shelf life and texture of the ingredient in food and drink.
Demand from Pharmaceuticals Segment Creates Growth Opportunities
Increasing demand in the pharmaceutical industry is driving growth in the market. Innovations in flavour-masking technologies over the past few years have allowed the pharmaceutical industry to provide improved patient acceptability and compliance with commercial products, especially with paediatric and adult populations.
More companies are turning to taste-masking expertise to complement their product portfolios for oral dosage forms. Meanwhile, pharmaceutical expansion in emerging economies and the introduction of advanced and natural flavour carriers are expected to fuel market growth opportunities.
- Many players are focusing on collaborating with other market players in order to form effective distribution.
- Leading players are likely to engage in acquisitions and partnership to gain competitive strength.
- Some of the leading companies are also focusing on expansion strategies to strengthen their foothold in the market.
- For instance, In October 2018, DuPont Tate & Lyle Bio Products announced the expansion and opening of a warehouse and distribution centre alongside its manufacturing facility in Tennessee, United States. With this expansion the company aims to cater to the needs of products and services to all the global customers.
- Base year considered - 2020
- Actual estimates/Historical data - 2015 - 2019
- Forecast period - 2020 - 2030
- Market Value in 2020 - US$ 319.2 Mn
- Segments covered - Category, Form, Application and Region
- Regions covered - North America, Latin America, Europe, East Asia, South Asia, Oceania and MEA
- Key Players - 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).
- Growth Driver -
- Increase in demand for functional food products.
- Increasing application in the pharmaceutical industry.
- Launch of advanced and natural flavor carriers
- Increasing consumer demand for low-calorie products
Market Research Methodology - Perfected through Years of Diligence
A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.
Rising Demand for Functional Food Products to Give Impetus to Growth
Rising disposable income, changing food habits, and the growing demand for functional food items and beverages are attributable for the increased demand for flavour carriers. Flavour carriers are used to mask the harsh taste of nutraceutical.
Rising the prevalence of obesity and increasing consciousness about healthy eating will fuel the demand for safer, nutritious foods such as hydrolysed soy, whey proteins, menthol and oral health products. These factors are fundamentally propelling growth of the market. In addition to this, due to their high usage in processed and convenience food, the expansion of the segment will augur well for the overall market.
Europe is expected to dominate the Market
During the forecast period Europe is expected to dominate the global flavour carriers market. The presence of well-established pharmaceutical and food and beverages sector will support the expansion of the market in Europe as well as in North America. Both these countries exhibit a high demand for sports nutrition, which will significantly aid the expansion of the market.
However, over the forecast period Asia Pacific is likely to exhibit higher rate of growth. Owing to the rapid urbanization and changes in consumers' lifestyles, the packaged food industry in Asia Pacific it witnessing remarkable growth. Furthermore, in recent years consumers have developed an inclination towards food products with better nutritional values. Spurred by these factors, the flavour carriers market will witness impressive growth in Asia Pacific.
Rising Usage of Flavour Carriers in the Pharmaceuticals Sectors is Driving Growth
The increasing demand for functional food products is boosting the demand for flavour carriers to mask the bitter taste of nutraceutical. There has been growing demand in the pharmaceutical and food industries to improve the flavours and tastes. Impelled by prevailing opportunities, several flavour carriers suppliers are working closely with food and pharmaceutical companies to boost their product offerings.
On the downside, the market’s growth trajectory may get hindered due to the emergence of substitute products and innovations such as high-intensity sugar sweeteners and ion exchange salts. Besides this, strict government policies implemented across various nations may impact the overall market growth. However, in emerging economies expansion of pharmaceutical sector and the launch of advanced and natural flavour carriers are expected to spur growth opportunities for the market over the forecast period.
How Growth will Unfold
Key factors driving the global flavour carriers market are increasing demand for nutritional supplements globally. In addition, rising disposable income, changing food consumption habits, increasing demand for prebiotics and probiotic in functional food & beverages, and rising awareness regarding healthy benefits of consumption of flavour carriers are some other factors expected to drive the market.
In addition, expansion of the food and beverage industries across the globe, evolving customer tastes, evolving living standards, launches of new advances and nutritional goods, expansion of dairy industry and government and several NGO initiatives to promote safe benefits of flavour carriers and the use of flavour carriers are some other factors that are expected to drive target market growth over forecast period. Strict regulations and product recalls, however, are other factors that are expected to impede the growth of global flavour carriers over the forecast period.
FLAVOUR CARRIERS MARKET TAXONOMY
The global flavour carriers market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
- Bitterness Suppressors
- Flavor Carriers
- North America
- Latin America
- East Asia
- South Asia