South & Central America Flavor Masking Agents Market Forecast to 2030 - Regional Analysis - by Type (Sweet, Salt, Fat, Bitter, and Others) and Application (Food and Beverages [Bakery and Confectionery; Dairy and Frozen Desserts; Beverages; Meat, Poultry, and Seafood; Meat Substitutes; Dairy Alternatives; RTE and RTC Meals; and Other Food and Beverages], Pharmaceuticals and Nutraceuticals, and Others)
The South & Central America flavor masking agents market was valued at US$ 18.95 million in 2022 and is expected to reach US$ 30.49 million by 2030; it is estimated to register a CAGR of 6.1% from 2022 to 2030.
Rising Use of Flavor Masking Agents in Plant-Based Products Drives South & Central America Flavor Masking Agents Market
Consumers are highly inclined toward plant-based foods and beverages as they perceive them as healthier than conventional items. The global proliferation of veganism among people propels the consumption of plant-based products. As per the data published by Veganuary, a nonprofit organization encouraging people to become vegan for the whole month of January, ~5.8 million people signed up for the "Veganuary Campaign" in 2021.
Plant protein is added to plant-based products, including meat substitutes and dairy alternatives, to fulfill the nutritional requirements. Pea protein is a popular choice of plant protein in meat alternatives due to its high protein content, low saturated fat, and high fiber content. Plant proteins such as pea, soy, almonds, and other ingredients give the end product beany, bitter, cardboardy, and chalky tastes. There might also be unpleasant perceptions around aroma, astringency, and mouthfeel. Kerry Group, Synergy Flavors, and Glanbia are among the well-established brands offering flavor masking agents for plant-based products.
Flavor masking agents are highly used in plant-based products to give the desired flavor and taste. Thus, increasing demand for plant-based products among consumers owing to their associated health benefits is expected to create lucrative opportunities for the flavor masking agents market during the forecast period.
South & Central America Flavor Masking Agents Market Overview
The South & Central America flavor masking agents market is segmented into Brazil, Argentina, and the Rest of South & Central America. The market in the region has been experiencing an increased emphasis on health and wellness. Consumers opt for products with low sugar, salt, and artificial additives. Flavor masking agents help manufacturers create healthier options without compromising taste, making products attractive to health-conscious consumers. In addition, the popularity of exotic and tropical fruit-based beverages has driven the demand for flavor masking agents in the region. These agents allow manufacturers to work with ingredients that have unique and intense flavors, ensuring that the final products are not overly strong and unpalatable.
Further, rising trend of convenience foods in South & Central America contributes to the demand for flavor masking agents. Manufacturers use these agents to maintain the flavor and taste of different ready-to-eat products. The growing interest in clean-label products across the region contributed to the regional market growth. Flavor masking agents are used to maintain taste in products while avoiding artificial or undesirable ingredients, aligning with the clean label movement and satisfying consumer preference for natural and minimal processed options.
South & Central America Flavor Masking Agents Market Revenue and Forecast to 2030 (US$ Th)
South & Central America Flavor Masking Agents Market Segmentation
The South & Central America flavor masking agents market is segmented based on type, application, and country.
Based on type, the South & Central America flavor masking agents market is categorized into sweet, salt, fat, bitter, and others. The bitter segment held the largest South & Central America flavor masking agents market share in 2022.
By application, the South & Central America flavor masking agents market is segmented into food and beverages, pharmaceuticals and nutraceuticals, and others. The food and beverages segment held the largest South & Central America flavor masking agents market share in 2022. The food and beverages segment is further subsegmented into bakery and confectionery, dairy and frozen desserts, beverages, meat, poultry, and seafood, meat substitutes, dairy alternatives, RTE and RTC meals, and other food and beverages.
Based on country, the South & Central America flavor masking agents market is categorized into Brazil, Argentina, and the Rest of South & Central America. The Rest of South & Central America dominated the South & Central America flavor masking agents market in 2022.
Sensient Technologies Corp, Firmenich International SA, Tate & Lyle Plc, Archer-Daniels-Midland Co, Kerry Group Plc, Carmi Flavor & Fragrance Co Inc, Synergy Flavors Inc, and Koninklijke DSM NV are some of the leading companies operating in the South & Central America flavor masking agents market.
Table of Content
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Market Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. South & Central America Flavor Masking Agents Market Landscape
4.1 Overview
4.2 Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
4.3.1 Raw Material Suppliers
4.3.2 Manufacturing Process
4.3.3 Distributors or Suppliers
4.3.4 End-Use Industries
5. South & Central America Flavor Masking Agents Market - Key Industry Dynamics
5.1 Market Drivers
5.1.1 Wide Array of Application
5.1.2 Technological Advancements in Flavor Masking
5.2 Market Restraints
5.2.1 High Manufacturing Expenses Results in High Product Cost
5.3 Market Opportunities
5.3.1 Rising Use of Flavor Masking Agents in Plant-Based Products
5.4 Future Trends
5.4.1 Increasing Demand for Natural Additives
5.5 Impact of Drivers and Restraints:
6. Flavor Masking Agents Market - South & Central America Market Analysis
6.1 South & Central America Flavor Masking Agents Market Revenue (US$ Thousand), 2020 - 2030
6.2 South & Central America Flavor Masking Agents Market Forecast and Analysis
7. South & Central America Flavor Masking Agents Market Analysis - By Type
7.1 Sweet
7.1.1 Overview
7.1.2 Sweet: South & Central America Flavor Masking Agents Market Revenue and Forecast to 2030 (US$ Thousand)
7.2 Salt
7.2.1 Overview
7.2.2 Salt: South & Central America Flavor Masking Agents Market Revenue and Forecast to 2030 (US$ Thousand)
7.3 Fat
7.3.1 Overview
7.3.2 Fat: South & Central America Flavor Masking Agents Market Revenue and Forecast to 2030 (US$ Thousand)
7.4 Bitter
7.4.1 Overview
7.4.2 Bitter: South & Central America Flavor Masking Agents Market Revenue and Forecast to 2030 (US$ Thousand)
7.5 Others
7.5.1 Overview
7.5.2 Others: South & Central America Flavor Masking Agents Market Revenue, and Forecast to 2030 (US$ Thousand)
8. South & Central America Flavor Masking Agents Market Analysis - by Application
8.1 Food and Beverages
8.1.1 Overview
8.1.2 Food and Beverages: South & Central America Flavor Masking Agents Market Revenue, and Forecast to 2030 (US$ Thousand)
8.2 Bakery and Confectionery
8.2.1 Overview
8.2.2 Bakery and Confectionery: South & Central America Flavor Masking Agents Market Revenue, and Forecast to 2030 (US$ Thousand)
8.3 Dairy and Frozen Desserts
8.3.1 Overview
8.3.2 Dairy and Frozen Desserts: South & Central America Flavor Masking Agents Market Revenue, and Forecast to 2030 (US$ Thousand)
8.4 Beverages
8.4.1 Overview
8.4.2 Beverages: South & Central America Flavor Masking Agents Market Revenue, and Forecast to 2030 (US$ Thousand)
8.5 Meat, Poultry, and Seafood
8.5.1 Overview
8.5.2 Meat, Poultry, and Seafood: South & Central America Flavor Masking Agents Market Revenue, and Forecast to 2030 (US$ Thousand)
8.6 Meat Substitutes
8.6.1 Overview
8.6.2 Meat Substitutes: South & Central America Flavor Masking Agents Market Revenue, and Forecast to 2030 (US$ Thousand)
8.7 Dairy Alternatives
8.7.1 Overview
8.7.2 Dairy Alternatives: South & Central America Flavor Masking Agents Market Revenue, and Forecast to 2030 (US$ Thousand)
8.8 RTE and RTC Meals
8.8.1 Overview
8.8.2 RTE and RTC Meals: South & Central America Flavor Masking Agents Market Revenue, and Forecast to 2030 (US$ Thousand)
8.9 Other Food and Beverages
8.9.1 Overview
8.9.2 Other Food and Beverages: South & Central America Flavor Masking Agents Market Revenue, and Forecast to 2030 (US$ Thousand)
8.10 Pharmaceuticals and Nutraceuticals
8.10.1 Overview
8.10.2 Pharmaceuticals and Nutraceuticals: South & Central America Flavor Masking Agents Market Revenue, and Forecast to 2030 (US$ Thousand)
8.11 Others
8.11.1 Overview
8.11.2 Others: South & Central America Flavor Masking Agents Market Revenue, and Forecast to 2030 (US$ Thousand)
9. South & Central America Flavor Masking Agents Market - Country Analysis
9.1 South & Central America
9.1.1 South & Central America Flavor Masking Agents Market Revenue and Forecasts and Analysis - By Countries
9.1.1.1 South & Central Flavor Masking Agents Market Breakdown by Country
9.1.1.2 Brazil Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
9.1.1.2.1 Brazil Flavor Masking Agents Market Breakdown by Type
9.1.1.2.2 Brazil Flavor Masking Agents Market Breakdown by Application
9.1.1.3 Argentina Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
9.1.1.3.1 Argentina Flavor Masking Agents Market Breakdown by Type
9.1.1.3.2 Argentina Flavor Masking Agents Market Breakdown by Application
9.1.1.4 Rest of South & Central America Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
9.1.1.4.1 Rest of South & Central America Flavor Masking Agents Market Breakdown by Type
9.1.1.4.2 Rest of South & Central America Flavor Masking Agents Market Breakdown by Application
10. Company Profiles
10.1 Sensient Technologies Corp
10.1.1 Key Facts
10.1.2 Business Description
10.1.3 Products and Services
10.1.4 Financial Overview
10.1.5 SWOT Analysis
10.1.6 Key Developments
10.2 Firmenich International SA
10.2.1 Key Facts
10.2.2 Business Description
10.2.3 Products and Services
10.2.4 Financial Overview
10.2.5 SWOT Analysis
10.2.6 Key Developments
10.3 Tate & Lyle Plc
10.3.1 Key Facts
10.3.2 Business Description
10.3.3 Products and Services
10.3.4 Financial Overview
10.3.5 SWOT Analysis
10.3.6 Key Developments
10.4 Archer-Daniels-Midland Co
10.4.1 Key Facts
10.4.2 Business Description
10.4.3 Products and Services
10.4.4 Financial Overview
10.4.5 SWOT Analysis
10.4.6 Key Developments
10.5 Kerry Group Plc
10.5.1 Key Facts
10.5.2 Business Description
10.5.3 Products and Services
10.5.4 Financial Overview
10.5.5 SWOT Analysis
10.5.6 Key Developments
10.6 Carmi Flavor & Fragrance Co Inc
10.6.1 Key Facts
10.6.2 Business Description
10.6.3 Products and Services
10.6.4 Financial Overview
10.6.5 SWOT Analysis
10.6.6 Key Developments
10.7 Synergy Flavors Inc
10.7.1 Key Facts
10.7.2 Business Description
10.7.3 Products and Services
10.7.4 Financial Overview
10.7.5 SWOT Analysis
10.7.6 Key Developments
10.8 Koninklijke DSM NV
10.8.1 Key Facts
10.8.2 Business Description
10.8.3 Products and Services
10.8.4 Financial Overview
10.8.5 SWOT Analysis
10.8.6 Key Developments
11. Appendix
List of Tables
Table 1. South & Central America Flavor Masking Agents Market Segmentation
Table 2. South & Central America Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
Table 3. South & Central America Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand) - Type
Table 4. South & Central America Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand) - Application
Table 5. Brazil Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand) - By Type
Table 6. Brazil Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand) - By Application
Table 7. Argentina Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand) - By Type
Table 8. Argentina Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand) - By Application
Table 9. Rest of South & Central America Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand) - By Type
Table 10. Rest of South & Central America Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand) - By Application
List of Figures
Figure 1. South & Central America Flavor Masking Agents Market Segmentation, By Country
Figure 2. Porter's Five Forces Analysis
Figure 3. Ecosystem: South & Central America Flavor Masking Agents Market
Figure 4. South & Central America Flavor Masking Agents Market - Key Industry Dynamics
Figure 5. Impact Analysis of Drivers and Restraints
Figure 6. South & Central America Flavor Masking Agents Market Revenue (US$ Thousand), 2020 - 2030
Figure 7. South & Central America Flavor Masking Agents Market Share (%) - Type, 2022 and 2030
Figure 8. Sweet: South & Central America Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
Figure 9. Salt: South & Central America Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
Figure 10. Fat: South & Central America Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
Figure 11. Bitter: South & Central America Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
Figure 12. Others: South & Central America Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
Figure 13. South & Central America Flavor Masking Agents Market Share (%) -Application, 2022 and 2030
Figure 14. Food and Beverages: South & Central America Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
Figure 15. Bakery and Confectionery: South & Central America Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
Figure 16. Dairy and Frozen Desserts: South & Central America Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
Figure 17. Beverages: South & Central America Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
Figure 18. Meat, Poultry, and Seafood: South & Central America Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
Figure 19. Meat Substitutes: South & Central America Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
Figure 20. Dairy Alternatives: South & Central America Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
Figure 21. RTE and RTC Meals: South & Central America Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
Figure 22. Other Food and Beverages: South & Central America Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
Figure 23. Pharmaceuticals and Nutraceuticals: South & Central America Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
Figure 24. Others: South & Central America Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
Figure 25. South & Central Flavor Masking Agents Market Revenue, by Key Countries, (2022) (US$ Th)
Figure 26. South & Central Flavor Masking Agents Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 27. Brazil Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
Figure 28. Argentina Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
Figure 29. Rest of South & Central America Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
1. Archer-Daniels-Midland Co
2. Carmi Flavor & Fragrance Co Inc
3. Firmenich International SA
4. Kerry Group Plc
5. Koninklijke DSM NV
6. Sensient Technologies Corp
7. Synergy Flavors Inc
8. Tate & Lyle Plc
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