Report : Flavor Masking Agents Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Sweet Flavor, Salt Flavor, Fat Flavor, Bitter Flavor, and Others) and Application (Food and Beverages, Pharmaceuticals and Nutraceuticals, and Others)
According to our latest market study on “Flavor Masking Agents Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Sweet Flavor, Salt Flavor, Fat Flavor, Bitter Flavor, and Others) and Application (Food and Beverages, Pharmaceuticals and Nutraceuticals, and Others),” the market is expected to grow from US$ 224.03 million in 2021 and is projected to reach US$ 331.16 million by 2028; it is expected to grow at a CAGR of 5.7% from 2021 to 2028. The report highlights key factors driving the market growth and prominent players along with their developments in the market.
Flavor masking agents are a chemical interaction that cause the absence of taste. It has the ability to mellow saltiness and bitterness. Moreover, it masks the bitter tastes of some hydrolyzed proteins and other food substances in pet and animal feed. Bitterness, glycerin flavor, vitamin and mineral flavor, and metallic flavor in a food product are masked with an ingredient that gives an appealing flavor to the end-product. The growth of the flavor masking agents market is attributed to the increasing consumption of processed foods. Moreover, surging demand from the sports nutrition industry is estimated to boost the market growth in the coming years.
Flavor masking agents are food additives that are used to mask unpleasant flavors in food products. Bitterness, glycerin flavor, vitamin and mineral flavor, or metallic flavor in the food product are masked with a flavor ingredient that gives the end-product an appealing flavor. Further, flavor masking agents are used in a wide variety of industries such as food & beverages, pharmaceuticals and nutraceuticals, and cosmetics. The pharmaceutical industry has grown at a rapid pace over the last decade and is expected to continue this trend in the coming decade. Due to growing urbanization, people are adopting a more sedentary lifestyle. Obesity rates and the prevalence of diseases like diabetes are rising as a result of this. As stated by the World Health Organization, in 2020 chronic disease incidence increased by 57%. Growth of the pharmaceutical and nutraceuticals industry can be attributed to the rising prevalence of diseases such as heart disease, cancer, stroke, respiratory disease, diabetes, Alzheimer's disease, influenza, pneumonia, kidney disease, and septicemia. The use of flavor masking agents is crucial due to the concentrated amount of protein, vitamins, or minerals found in pharmaceutical products. In addition, the rising focus on improving the taste of bitter medicines by adding flavor masking agents is also propelling the market growth. Further, flavor masking agents are used to enhance the flavor of a product by either offering a more pleasant taste or masking an unpleasant taste. Flavor masking agents are inactive additives used in the pharmaceutical industry. Inactive ingredients are components of a medication that do not enhance or alter the therapeutic function of the active ingredient, which is normally the active drug. Some of the examples of essential additive inactive ingredients are flavoring agents, binding agents, preservatives, and buffers, among others. Without these, the medicine can disintegrate, spoil more quickly, or taste too bitter for most people to consume orally. Moreover, flavors are used in orally consumed goods such as syrups, chewable pills, and suspensions to make the bitter taste of the medicine more pleasant, imparting a beneficial medicinal effect.
ADM; Cargill; Incorporated; Carmi Flavor And Fragrance Co., Inc.; Geo Specialty Chemicals; Sensient Technologies Corporation, Keva Flavours Pvt. Ltd; and Roquette Freres are among the well-established players operating in the flavor masking agents market.
Impact of COVID-19 Pandemic on Flavor Masking Agents Market
The COVID-19 outbreak is adversely affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The global food & beverages industry is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns. For instance, China is the global manufacturing hub and the largest raw material supplier for various industries, and it is also one of the worst-affected countries. The lockdown of various plants and factories in China is restricting the global supply chains and negatively impacting the manufacturing activities, delivery schedules, and various food ingredients and products sales. Various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition, the global travel bans imposed by countries in Europe, Asia, and North America are hampering business collaborations and partnership opportunities. All these factors are hindering the food & beverages industry, which is restraining the growth of various markets related to this industry.
The report includes the segmentation of the global flavor masking agents market as follows:
Flavor Masking Agents Market, by Type
Flavor Masking Agents Market, by Application
Flavor Masking Agents Market, by Geography