Asia Pacific Flavor Masking Agents Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Sweet Flavor, Salt Flavor, Fat Flavor, Bitter Flavor, and Others) and Application (Food and Beverages, Pharmaceuticals and Nutraceuticals, and Others)

Market Introduction

Asia Pacific region comprises of various developed and developing economies such as Australia, India, China, Japan, South Korea, and others. The food and beverages industry in these countries is well-established and is expected to grow at a fast pace in the coming years. Moreover, the nutrition industry in this region is rapidly growing. People are highly concerned about their fitness and wellbeing leading to growing demand for nutritional supplements across this region. Consumers are greatly demanding low-calorie protein-rich food products. Moreover, the demand for fortified food products is increasing rapidly in this region. Flavor masking agents are extensively used in protein-based food products to eliminate or neutralize the off flavor or undesirable flavor of protein. This increases their acceptability in the market. Countries like China and Japan are the largest market for sports nutrition industry in Asia Pacific owing to rising consumer interest in health and sports and continued presence of international sports festivals such as Olympics and Common Wealth Games. The consumption of nutritional supplements such as fortified food products with proteins, vitamins and minerals is rapidly increasing. Manufacturers of nutritional supplements heavily rely on flavor masking agents to overcome the undesirable flavor of these supplements. Thus, rapidly growing sports nutrition industry in the region and growing interest of consumers in health and fitness are some of the key factors anticipated to propel the market growth in the forthcoming years.

The COVID-19 is anticipated to cause a loss of more than 3 Billion in the Asia Pacific region. The consequence and impact can be even worse and totally depends on the spread of the virus. The government of Asia Pacific is taking possible steps to reduce its effects by announcing lockdown, and thus, impact the revenue generated by the market. The Airports Council International (ACI) Asia-Pacific warned that the prolonged duration of the COVID-19 would drastically impact the region’s airports’ connectivity and economic sustainability, significantly restricting them from achieving previously forecasted growth prospects. Such closures are anticipated to negatively impact market growth in the coming period. Till now, India has the highest number of COVID -19 confirmed cases.

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Market Overview and Dynamics

The flavor masking agents market in Asia Pacific is expected to grow to US$ 103.59 million by 2028 from US$ 73.56 million in 2021. The market is estimated to grow at a CAGR of 5.0% from 2021 to 2028. 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. However, the use of flavor masking agents is not limited to the pharmaceutical industry and has been expanding across diversified end-use industries. Such masking agents are extensively used in the food & beverages industry in meat & dairy-based products, bakery and confectionery, alcoholic beverages, and sports nutrition. Flavor masking agents are used primarily to mask unwanted flavor notes in food products and provide a good and appealing flavor to the finished product. Additionally, flavor masking agents are also used to improve the flavor of cosmetics and personal care products in a wide range of products such as face mask, lotions, creams, gels, and others. They can also be used to create or mask a specific flavor. Thus, the wide use of flavor masking agents in a wide variety of applications is driving the market growth.

Key Market Segments

Asia Pacific flavor masking agents market is segmented based on type and application. The Asia Pacific flavor masking agents market based on type is bifurcated 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 bifurcated 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.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on flavor masking agents market in Asia Pacific are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Carmi Flavor & Fragrance Co., Inc.; Cargill, Incorporated; GEO Specialty Chemicals, Inc.; Keva Flavors Pvt. Ltd.; Roquette Freres; DSM Corporation; Symrise Ag; GPT Pharmaceuticals Pvt. Ltd.; Sensient Technologies Corporation; and Archer Daniels Midland Company among others.

Reasons to buy report

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Asia Pacific flavor masking agents market
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in Asia Pacific flavor masking agents market, thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the flavor masking agents market as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

ASIA PACIFIC FLAVOR MASKING AGENTS MARKET SEGMENTATION

Asia Pacific Flavor Masking Agents Market – By Type

Sweet Flavor
Salt Flavor
Fat Flavor
Bitter Flavor
Others

Asia Pacific Flavor Masking Agents Market – By Application

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

Asia Pacific Flavor Masking Agents Market – By Country

Asia Pacific Flavor Flavor Masking Agents Market Company Profiles

1. Introduction

1.1 Study Scope

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology

3.1 Scope of the Study

3.2 Research Methodology

3.2.1 Data Collection

3.2.2 Primary Interviews

3.2.3 Hypothesis Formulation

3.2.4 Macro-economic Factor Analysis

3.2.5 Developing Base Number

3.2.6 Data Triangulation

3.2.7 Country Level Data

4. Asia Pacific Flavor Masking Agents Market Landscape

4.1 Market Overview

4.2 PEST Analysis

4.3 Expert Opinion

5. Flavor Masking Agents Market – Key Market Dynamics

5.1 Market Drivers

5.1.1 Expanding Use of Flavor Masking Agents in Diversified Applications

5.1.2 Technological Evolution in Pharmaceutical Industry

5.2 Market Restraints

5.2.1 Upsurging Demand of Clean Label Products

5.3 Market Opportunities

5.3.1 Growing Use Biotechnology for Making Flavor Masking Agents

5.4 Future Trends

5.4.1 Accelerated Inclination of Consumers Toward Natural Additives and Ingredients

5.5 Impact Analysis of Drivers and Restraints

6. Asia Pacific Flavor Masking Agents – Market Analysis

6.1 Flavor Masking Agents Market Overview

6.2 Asia Pacific: Flavor Masking Agents Market –Revenue, and Forecast to 2028 (USD Million)

7. Asia Pacific Flavor Masking Agents Market Analysis – By Type Overview

7.1 Asia Pacific: Flavor Masking Agents Market, by Product Type (2020 and 2028)

7.2 Sweet Flavor

7.2.1 Overview

7.2.2 Sweet Flavor: Flavor Masking Agents Market – Revenue and Forecast to 2028 (USD Million)

7.3 Salt Flavor

7.3.1 Overview

7.3.2 Salt Flavor: Flavor Masking Agents Market – Revenue and Forecast to 2028 (USD Million)

7.4 Bitter Flavor

7.4.1 Overview

7.4.2 Bitter Flavor: Flavor Masking Agents Market – Revenue and Forecast to 2028 (USD Million)

7.5 Fat Flavor

7.5.1 Overview

7.5.2 Fat Flavor: Flavor Masking Agents Market – Revenue and Forecast to 2028 (USD Million)

7.6 Others

7.6.1 Overview

7.6.2 Others: Flavor Masking Agents Market – Revenue and Forecast to 2028 (USD Million)

8. Asia Pacific Flavor Masking Agents Market Analysis – By Application

8.1 Overview

8.2 Asia Pacific: Flavor Masking Agents Market, by Application

8.3 Food & Beverages

8.3.1 Overview

8.3.2 Food & Beverages: Flavor Masking Agents Market – Revenue and Forecast to 2028 (USD Million)

8.3.2.1 Dairy and Frozen Dessert

8.3.2.1.1 Overview

8.3.2.1.2 Dairy and Frozen Dessert: Flavor Masking Agents Market – Revenue and Forecast to 2028 (USD Million)

8.3.2.2 Bakery and Confectionery

8.3.2.2.1 Overview

8.3.2.2.2 Bakery and Confectionery: Flavor Masking Agents Market – Revenue and Forecast to 2028 (USD Million)

8.3.2.3 Beverages

8.3.2.3.1 Overview

8.3.2.3.2 Beverages: Flavor Masking Agents Market – Revenue and Forecast to 2028 (USD Million)

8.3.2.4 Meat, Poultry, and Seafood

8.3.2.4.1 Overview

8.3.2.4.2 Meat, Poultry, and Seafood: Flavor Masking Agents Market – Revenue and Forecast to 2028 (USD Million)

8.3.2.5 Others

8.3.2.5.1 Overview

8.3.2.5.2 Others: Flavor Masking Agents Market – Revenue and Forecast to 2028 (USD Million)

8.4 Pharmaceuticals and Nutraceuticals

8.4.1 Overview

8.4.2 Pharmaceuticals and Nutraceuticals: Flavor Masking Agents Market – Revenue and Forecast to 2028 (USD Million)

8.5 Others

8.5.1 Overview

8.5.2 Others: Flavor Masking Agents Market – Revenue and Forecast to 2028 (USD Million)

9. Asia Pacific Flavor Masking Agents Market – Country Analysis

9.1 Overview

9.1.1 Asia Pacific: Flavor Masking Agents Market, by Key Country

9.1.1.1 Australia: Flavor Masking Agents Market – Revenue, and Forecast to 2028 (USD Million)

9.1.1.1.1 Australia: Flavor Masking Agents Market, by Product Type

9.1.1.1.2 Australia: Flavor Masking Agents Market, by Application

9.1.1.2 China: Flavor Masking Agents Market – Revenue, and Forecast to 2028 (USD Million)

9.1.1.2.1 China: Flavor Masking Agents Market, by Product Type

9.1.1.2.2 China: Flavor Masking Agents Market, by Application

9.1.1.3 India: Flavor Masking Agents Market – Revenue, and Forecast to 2028 (USD Million)

9.1.1.3.1 India: Flavor Masking Agents Market, by Product Type

9.1.1.3.2 India: Flavor Masking Agents Market, by Application

9.1.1.4 Japan: Flavor Masking Agents Market – Revenue, and Forecast to 2028 (USD Million)

9.1.1.4.1 Japan: Flavor Masking Agents Market, by Product Type

9.1.1.4.2 Japan: Flavor Masking Agents Market, by Application

9.1.1.5 South Korea: Flavor Masking Agents Market – Revenue, and Forecast to 2028 (USD Million)

9.1.1.5.1 South Korea: Flavor Masking Agents Market, by Product Type

9.1.1.5.2 South Korea: Flavor Masking Agents Market, by Application

9.1.1.6 Rest of Asia-Pacific: Flavor Masking Agents Market – Revenue, and Forecast to 2028 (USD Million)

9.1.1.6.1 Rest of Asia-Pacific: Flavor Masking Agents Market, by Product Type

9.1.1.6.2 Rest of Asia-Pacific: Flavor Masking Agents Market, by Application

10. Overview- Impact of Coronavirus Outbreak on Asia Pacific Flavor Masking Agents Market

10.1 Overview

11. Industry Landscape

11.1 Overview

11.2 Mergers & Acquisition

11.3 Collaboration

11.4 Partnership

11.5 Expansion

12. Company Profiles

12.1 Carmi Flavor & Fragrance Co., Inc.

12.1.1 Key Facts

12.1.2 Business Description

12.1.3 Products and Services

12.1.4 Financial Overview

12.1.5 SWOT Analysis

12.1.6 Key Developments

12.2 Cargill, Incorporated

12.2.1 Key Facts

12.2.2 Business Description

12.2.3 Products and Services

12.2.4 Financial Overview

12.2.5 SWOT Analysis

12.2.6 Key Developments

12.3 GEO Specialty Chemicals, Inc.

12.3.1 Key Facts

12.3.2 Business Description

12.3.3 Products and Services

12.3.4 Financial Overview

12.3.5 SWOT Analysis

12.3.6 Key Developments

12.4 Keva Flavors Pvt. Ltd.

12.4.1 Key Facts

12.4.2 Business Description

12.4.3 Products and Services

12.4.4 Financial Overview

12.4.5 SWOT Analysis

12.4.6 Key Developments

12.5 Roquette Frères

12.5.1 Key Facts

12.5.2 Business Description

12.5.3 Products and Services

12.5.4 Financial Overview

12.5.5 SWOT Analysis

12.5.6 Key Developments

12.6 DSM Corporation

12.6.1 Key Facts

12.6.2 Business Description

12.6.3 Products and Services

12.6.4 Financial Overview

12.6.5 SWOT Analysis

12.6.6 Key Developments

12.7 Symrise

12.7.1 Key Facts

12.7.2 Business Description

12.7.3 Products and Services

12.7.4 Financial Overview

12.7.5 SWOT Analysis

12.7.6 Key Developments

12.8 GPT Pharmaceuticals Pvt. Ltd.

12.8.1 Key Facts

12.8.2 Business Description

12.8.3 Products and Services

12.8.4 Financial Overview

12.8.5 SWOT Analysis

12.8.6 Key Developments

12.9 Sensient Technologies Corporation

12.9.1 Key Facts

12.9.2 Business Description

12.9.3 Products and Services

12.9.4 Financial Overview

12.9.5 SWOT Analysis

12.9.6 Key Developments

12.10 Archer Daniels Midland Company

12.10.1 Key Facts

12.10.2 Business Description

12.10.3 Products and Services

12.10.4 Financial Overview

12.10.5 SWOT Analysis

12.10.6 Key Developments

13. Appendix

13.1 About The Insight Partners

13.2 Word Index

LIST OF TABLES

Table 1. Asia Pacific Flavor Masking Agents Market –Revenue and Forecast to 2028 (USD Million)

Table 2. Australia Flavor Masking Agents, by Product Type – Revenue and Forecast to 2028 (USD Million)

Table 3. Australia Flavor Masking Agents, by Application – Revenue and Forecast to 2028 (USD Million)

Table 4. China Flavor Masking Agents, by Product Type – Revenue and Forecast to 2028 (USD Million)

Table 5. China Flavor Masking Agents, by Application – Revenue and Forecast to 2028 (USD Million)

Table 6. India Flavor Masking Agents, by Product Type – Revenue and Forecast to 2028 (USD Million)

Table 7. India Flavor Masking Agents, by Application – Revenue and Forecast to 2028 (USD Million)

Table 8. Japan Flavor Masking Agents, by Product Type – Revenue and Forecast to 2028 (USD Million)

Table 9. Japan Flavor Masking Agents, by Application – Revenue and Forecast to 2028 (USD Million)

Table 10. South Korea Flavor Masking Agents, by Product Type – Revenue and Forecast to 2028 (USD Million)

Table 11. South Korea Flavor Masking Agents, by Application – Revenue and Forecast to 2028 (USD Million)

Table 12. Rest of Asia Pacific Flavor Masking Agents, by Product Type – Revenue and Forecast to 2028 (USD Million)

Table 13. Rest of Asia Pacific Flavor Masking Agents, by Application – Revenue and Forecast to 2028 (USD Million)

Table 14. List of Abbreviation

LIST OF FIGURES

Figure 1. Asia Pacific Flavor Masking Agents Market Segmentation

Figure 2. Asia Pacific Flavor Masking Agents Market Segmentation – By Country

Figure 3. Asia Pacific Flavor Masking Agents Market Overview

Figure 4. Bitter Flavor Segment Held Largest Share of Asia Pacific Flavor Masking Agents Market

Figure 5. China Held Largest Share of Asia Pacific Flavor Masking Agents Market

Figure 6. Asia Pacific Flavor Masking Agents Market, Industry Landscape

Figure 7. Asia-Pacific: PEST Analysis

Figure 8. Expert Opinion

Figure 9. Flavor Masking Agents Market Impact Analysis of Drivers and Restraints

Figure 10. Asia Pacific: Flavor Masking Agents Market – Revenue and Forecast to 2028 (USD Million)

Figure 11. Asia-Pacific: Flavor Masking Agents Market Revenue Share, by Product Type (2020 and 2028)

Figure 12. Sweet Flavor: Flavor Masking Agents Market – Revenue and Forecast to 2028 (USD Million)

Figure 13. Salt Flavor: Flavor Masking Agents Market – Revenue and Forecast to 2028 (USD Million)

Figure 14. Bitter Flavor: Flavor Masking Agents Market – Revenue and Forecast to 2028 (USD Million)

Figure 15. Fat Flavor: Flavor Masking Agents Market – Revenue and Forecast to 2028 (USD Million)

Figure 16. Others: Flavor Masking Agents Market – Revenue and Forecast to 2028 (USD Million)

Figure 17. Asia Pacific: Flavor Masking Agents Market Revenue Share, by Application (2020 and 2028)

Figure 18. Food & Beverages: Flavor Masking Agents Market – Revenue and Forecast to 2028 (USD Million)

Figure 19. Dairy and Frozen Dessert: Flavor Masking Agents Market – Revenue and Forecast to 2028 (USD Million)

Figure 20. Bakery and Confectionery: Flavor Masking Agents Market – Revenue and Forecast to 2028 (USD Million)

Figure 21. Beverages: Flavor Masking Agents Market – Revenue and Forecast to 2028 (USD Million)

Figure 22. Meat, Poultry, and Seafood: Flavor Masking Agents Market – Revenue and Forecast to 2028 (USD Million)

Figure 23. Others: Flavor Masking Agents Market – Revenue and Forecast to 2028 (USD Million)

Figure 24. Pharmaceuticals and Nutraceuticals: Flavor Masking Agents Market – Revenue and Forecast to 2028 (USD Million)

Figure 25. Others: Flavor Masking Agents Market – Revenue and Forecast to 2028 (USD Million)

Figure 26. Geographic Overview of Asia Pacific Flavor Masking Agents Market

Figure 27. Asia Pacific: Flavor Masking Agents Market Revenue Share, by Key Country (2020 and 2028)

Figure 28. Australia: Flavor Masking Agents Market – Revenue, and Forecast to 2028 (USD Million)

Figure 29. China: Flavor Masking Agents Market – Revenue, and Forecast to 2028 (USD Million)

Figure 30. India: Flavor Masking Agents Market – Revenue, and Forecast to 2028 (USD Million)

Figure 31. Japan: Flavor Masking Agents Market – Revenue, and Forecast to 2028 (USD Million)

Figure 32. South Korea: Flavor Masking Agents Market – Revenue, and Forecast to 2028 (USD Million)

Figure 33. Rest of Asia-Pacific: Flavor Masking Agents Market – Revenue, and Forecast to 2028 (USD Million)

Figure 34. Impact of COVID-19 Pandemic in Asia-Pacific Country Markets

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Asia Pacific Flavor Masking Agents Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Sweet Flavor, Salt Flavor, Fat Flavor, Bitter Flavor, and Others) and Application (Food and Beverages, Pharmaceuticals and Nutraceuticals, and Others)

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