Bitterness Suppressors and Flavor Carriers Market worth $244 million by 2023

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", published by MarketsandMarkets™. 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.

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The flavor carriers segment is estimated to dominate the market with the largest share in 2018.

On the basis of category, the flavor carriers segment is estimated to account for a major market share in 2018. The bitterness suppressors segment is witnessing a higher growth rate due to the increasing requirements of the pharmaceutical industry. Also, the shift in consumer preferences from conventional food and beverages to functional and healthier options is fueling the bitterness suppressors market growth during the forecast period.

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By form, the liquid segment is projected to account for the largest share of the market by 2023.

The liquid segment of bitterness suppressors and flavor carriers is projected to account for the largest share by 2023. Liquid flavor carriers have excellent blending properties, and they 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.

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 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 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.