South America Flavor Masking Agents Market is expected to reach US$ 33.61 Mn by 2028

Beverages segment to dominate the South America Flavor Masking Agents Market during 2021–2028

According to a new market research study on “South America Flavor Masking Agents Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type and Application,” is expected to reach US$ 33.61 million by 2028 from US$ 22.50 million in 2021. The market is estimated to grow at a CAGR of 5.9% from 2021 to 2028. The report provides trends prevailing in the South America flavor masking agents market along with the drivers and restraints pertaining to the market growth. Improving inclination of consumers toward natural additives and ingredients, Expanding Use of Biotechnology for Making Flavor Masking Agents, and Technological Growth in Pharmaceutical Industry are the major factors driving the growth of the flavor masking agents market. However, raising demand of clean label products hinder the growth of flavor masking agents market.

Brazil has the highest number of COVID-19 cases, followed by Argentina, Peru, Chile, and Ecuador among others. The government of South America has taken an array of actions to protect their citizens and contain COVID-19’s spread. It is anticipated that South America will face lower export revenues, both from the drop in commodity prices and reduction in export volumes, especially to China, Europe, and the U.S, which are important trade partners. Containment measures in several countries of South America have reduced economic activity in the foods and beverages sector for at least the next quarter, with a rebound once the epidemic is contained.

South America flavor masking agents market is segmented based on type and application. The South America flavor masking agents market based on type is segmented into sweet flavor, salt flavor, fat flavor, bitter flavor, and others. Bitter flavor segment accounted for the highest share in the market in 2020 is expected to be fastest growing during forecast period. Based on application, the market is segmented into food & beverages, pharmaceuticals and nutraceuticals, and others. The food & beverages segment accounted for the highest share in 2020 and pharmaceuticals and nutraceuticals segment is expected to be the fastest growing during forecast period. Further, food & beverages segment is bifurcated into the dairy & frozen dessert, bakery and confectionery, beverages, meat poultry and seafood, and others. The beverages segment dominated the market in 2020 and dairy & frozen dessert segment is expected to be the fastest growing during the forecast period.                                                                                                                        

Archer Daniels Midland Company; Cargill, Incorporated; Carmi Flavor And Fragrance Co. Inc.; Geo Specialty Chemicals; DSM Corporation; Sensient Technologies Corporation; Symrise Ag; and Roquette Freres are among some of the leading companies in the South America flavor masking agents market. The market players focus on new product innovations and developments in order to achieve sustainable growth and to distinguish themselves among competitors present in the highly competitive flavor masking agents Market. For instance, Roquette and BRAIN Group Company AnalytiCon Discovery have completed the R&D phase of Brazzein production. For its acceptance and development, the partners have now signed a contract.

The report segments the South America Flavor Masking Agents Market as follows:

South America Flavor Masking Agents Market – By Type

• Sweet Flavor
• Salt Flavor
• Fat Flavor
• Bitter Flavor
• Others

South America Flavor Masking Agents Market – By Application

• Food & Beverages
  • Dairy & Frozen Dessert
  • Bakery and Confectionery
  • Beverages
  • Meat Poultry and Seafood
  • Others
• Pharmaceuticals and Nutraceuticals
• Others

South America Flavor Masking Agents Market – By Country

• Brazil
• Argentina
• Rest of South America