Flavor Masking Agents Market Size and Forecasts, Global and Regional Share, Trends, and Growth Opportunity Analysis By Type and Application

List of Tables

The flavor masking agents market size is projected to grow from US$ 235.64 million in 2022 to US$ 383.01 million by 2030; the market is expected to grow at a CAGR of 6.3% from 2022 to 2030.

Flavor masking agents are additives and compounds that mask the undesirable flavor of certain ingredients in processed food and beverages, pharmaceutical drugs, dietary supplements, and pet food. The flavor masking agents market has witnessed significant growth owing to the increasing consumption of processed foods. Moreover, increasing demand from the sports nutrition industry is estimated to boost the flavor masking agents market in the coming years.

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.

Geographically, the flavor masking agents market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. In 2022, Asia Pacific held the largest share of the flavor masking agents market, and Europe is estimated to register the highest CAGR over the forecast period. The increasing interest in healthier and more natural food options in the European region contributes to market growth. European consumers have been embracing organic and plant-based diets, often incorporating ingredients with strong or unfamiliar tastes, such as certain vegetables, grains, and legumes; to make these health-conscious choices more appealing, food manufacturers use flavor masking to mitigate any overpowering or objectionable flavors, ensuring that products maintain wide consumer acceptance while adhering to natural and clean label trends. This demand aligns with the broader European food quality, taste, and an awareness of sensory experience, all contributing to the flavor masking agents market growth in the region.

Based on application, the food and beverages segment held the largest share of the flavor masking agents market in 2022. The food and beverages segment is further sub-segmented into bakery and confectionery; dairy and frozen desserts; beverages; meat, poultry, and seafood; meat substitutes; dairy alternatives; RTE and RTC meals; and others. The dairy alternatives segment is projected to witness the fastest CAGR from 2022 to 2030. In the dairy alternatives segment, flavor masking agents are used to ensure that plant-based milk, cheese, and yogurt options taste pleasant and mimic their dietary counterparts. The demand for dairy alternatives is upsurging as more consumers opt for dairy-free alternatives due to lactose intolerance, dietary preferences, or ethical reasons. Flavor masking agents enable manufacturers to create dairy alternatives that cater to these needs and provide an enjoyable taste experience. This factor significantly drives the flavor masking agents market growth over the forecast period.

Sensient Technologies Corp, Firmenich International SA, Tate & Lyle Plc, Archer-Daniels-Midland Co, Kerry Group Plc, Carmi Flavor & Fragrance Co Inc, Synergy Flavors Inc, Virginia Dare Extract Co Inc, GEO Specialty Chemicals Inc, and Koninklijke DSM NV are among the key players operating in the flavor masking agents market. These players are focusing on developing plant-based, natural, organic, and clean-label flavor masking ingredients which is expected to open new growth opportunities in the coming years.

The overall flavor masking agents market size has been derived using primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs; business development managers; market intelligence managers; national sales managers; and external consultants, including valuation experts, research analysts, and key opinion leaders, specializing in the flavor masking agents market.

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Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
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Product Code: TIPRE00022627

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. 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
4.4 List of Vendors

5. 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 - Global Market Analysis

6.1 Flavor Masking Agents Market Revenue (US$ Thousand), 2020 - 2030
6.2 Flavor Masking Agents Market Forecast and Analysis

7. Flavor Masking Agents Market Analysis - Type

7.1 Sweet
- 7.1.1 Overview
- 7.1.2 Sweet Market Revenue and Forecast to 2030 (US$ Thousand)
7.2 Salt
- 7.2.1 Overview
- 7.2.2 Salt Market Revenue and Forecast to 2030 (US$ Thousand)
7.3 Fat
- 7.3.1 Overview
- 7.3.2 Fat Market Revenue and Forecast to 2030 (US$ Thousand)
7.4 Bitter
- 7.4.1 Overview
- 7.4.2 Bitter Market Revenue and Forecast to 2030 (US$ Thousand)
7.5 Others
- 7.5.1 Overview
- 7.5.2 Others Market Revenue, and Forecast to 2030 (US$ Thousand)

8. Global Flavor Masking Agents Market Analysis - Application

8.1 Food and Beverages
- 8.1.1 Overview
- 8.1.2 Food and Beverages Market Revenue, and Forecast to 2030 (US$ Thousand)
- 8.1.3 Bakery and Confectionery
  - 8.1.3.1 Overview
  - 8.1.3.2 Bakery and Confectionery Market Revenue, and Forecast to 2030 (US$ Thousand)
- 8.1.4 Dairy and Frozen Desserts
  - 8.1.4.1 Overview
  - 8.1.4.2 Dairy and Frozen Desserts Market Revenue, and Forecast to 2030 (US$ Thousand)
- 8.1.5 Beverages
  - 8.1.5.1 Overview
  - 8.1.5.2 Beverages Market Revenue, and Forecast to 2030 (US$ Thousand)
- 8.1.6 Meat, Poultry, and Seafood
  - 8.1.6.1 Overview
  - 8.1.6.2 Meat, Poultry, and Seafood Market Revenue, and Forecast to 2030 (US$ Thousand)
- 8.1.7 Meat Substitutes
  - 8.1.7.1 Overview
  - 8.1.7.2 Meat Substitutes Market Revenue, and Forecast to 2030 (US$ Thousand)
- 8.1.8 Dairy Alternatives
  - 8.1.8.1 Overview
  - 8.1.8.2 Dairy Alternatives Market Revenue, and Forecast to 2030 (US$ Thousand)
- 8.1.9 RTE and RTC Meals
  - 8.1.9.1 Overview
  - 8.1.9.2 RTE and RTC Meals Market Revenue, and Forecast to 2030 (US$ Thousand)
- 8.1.10 Other Food and Beverages
  - 8.1.10.1 Overview
  - 8.1.10.2 Other Food and Beverages Market Revenue, and Forecast to 2030 (US$ Thousand)
8.2 Pharmaceuticals and Nutraceuticals
- 8.2.1 Overview
- 8.2.2 Pharmaceuticals and Nutraceuticals Market Revenue, and Forecast to 2030 (US$ Thousand)
8.3 Others
- 8.3.1 Overview
- 8.3.2 Others Market Revenue, and Forecast to 2030 (US$ Thousand)

9. Flavor Masking Agents Market - Geographical Analysis

9.1 North America
- 9.1.1 North America Flavor Masking Agents Market Overview
- 9.1.2 North America Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
- 9.1.3 North America Flavor Masking Agents Market Breakdown by Type
  - 9.1.3.1 North America Flavor Masking Agents Market Revenue and Forecasts and Analysis - By Type
- 9.1.4 North America Flavor Masking Agents Market Breakdown by Application
  - 9.1.4.1 North America Flavor Masking Agents Market Revenue and Forecasts and Analysis - By Application
- 9.1.5 North America Flavor Masking Agents Market Revenue and Forecasts and Analysis - By Countries
  - 9.1.5.1 North America Flavor Masking Agents Market Breakdown by Country
  - 9.1.5.2 US Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
    - 9.1.5.2.1 US Flavor Masking Agents Market Breakdown by Type
    - 9.1.5.2.2 US Flavor Masking Agents Market Breakdown by Application
  - 9.1.5.3 Canada Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
    - 9.1.5.3.1 Canada Flavor Masking Agents Market Breakdown by Type
    - 9.1.5.3.2 Canada Flavor Masking Agents Market Breakdown by Application
  - 9.1.5.4 Mexico Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
    - 9.1.5.4.1 Mexico Flavor Masking Agents Market Breakdown by Type
    - 9.1.5.4.2 Mexico Flavor Masking Agents Market Breakdown by Application
9.2 Europe
- 9.2.1 Europe Flavor Masking Agents Market Overview
- 9.2.2 Europe Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
- 9.2.3 Europe Flavor Masking Agents Market Breakdown by Type
  - 9.2.3.1 Europe Flavor Masking Agents Market Revenue and Forecasts and Analysis - By Type
- 9.2.4 Europe Flavor Masking Agents Market Breakdown by Application
  - 9.2.4.1 Europe Flavor Masking Agents Market Revenue and Forecasts and Analysis - By Application
- 9.2.5 Europe Flavor Masking Agents Market Revenue and Forecasts and Analysis - By Countries
  - 9.2.5.1 Europe Flavor Masking Agents Market Breakdown by Country
  - 9.2.5.2 Germany Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
    - 9.2.5.2.1 Germany Flavor Masking Agents Market Breakdown by Type
    - 9.2.5.2.2 Germany Flavor Masking Agents Market Breakdown by Application
  - 9.2.5.3 France Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
    - 9.2.5.3.1 France Flavor Masking Agents Market Breakdown by Type
    - 9.2.5.3.2 France Flavor Masking Agents Market Breakdown by Application
  - 9.2.5.4 Italy Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
    - 9.2.5.4.1 Italy Flavor Masking Agents Market Breakdown by Type
    - 9.2.5.4.2 Italy Flavor Masking Agents Market Breakdown by Application
  - 9.2.5.5 UK Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
    - 9.2.5.5.1 UK Flavor Masking Agents Market Breakdown by Type
    - 9.2.5.5.2 UK Flavor Masking Agents Market Breakdown by Application
  - 9.2.5.6 Russia Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
    - 9.2.5.6.1 Russia Flavor Masking Agents Market Breakdown by Type
    - 9.2.5.6.2 Russia Flavor Masking Agents Market Breakdown by Application
  - 9.2.5.7 Rest of Europe Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
    - 9.2.5.7.1 Rest of Europe Flavor Masking Agents Market Breakdown by Type
    - 9.2.5.7.2 Rest of Europe Flavor Masking Agents Market Breakdown by Application
9.3 Asia Pacific
- 9.3.1 Asia Pacific Flavor Masking Agents Market Overview
- 9.3.2 Asia Pacific Flavor Masking Agents Market Revenue and Forecasts To 2030 (US$ Thousand)
- 9.3.3 Asia Pacific Flavor Masking Agents Market Breakdown by Type
  - 9.3.3.1 Asia Pacific Flavor Masking Agents Market Revenue and Forecasts and Analysis - By Type
- 9.3.4 Asia Pacific Flavor Masking Agents Market Breakdown by Application
  - 9.3.4.1 Asia Pacific Flavor Masking Agents Market Revenue and Forecasts and Analysis - By Application
- 9.3.5 Asia Pacific Flavor Masking Agents Market Breakdown by Country
  - 9.3.5.1 Asia Pacific Flavor Masking Agents Market Breakdown by Country
  - 9.3.5.2 China Flavor Masking Agents Market Revenue and Forecasts To 2030 (US$ Thousand)
    - 9.3.5.2.1 China Flavor Masking Agents Market Breakdown by Type
    - 9.3.5.2.2 China Flavor Masking Agents Market Breakdown by Application
  - 9.3.5.3 Japan Flavor Masking Agents Market Revenue and Forecasts To 2030 (US$ Thousand)
    - 9.3.5.3.1 Japan Flavor Masking Agents Market Breakdown by Type
    - 9.3.5.3.2 Japan Flavor Masking Agents Market Breakdown by Application
  - 9.3.5.4 India Flavor Masking Agents Market Revenue and Forecasts To 2030 (US$ Thousand)
    - 9.3.5.4.1 India Flavor Masking Agents Market Breakdown by Type
    - 9.3.5.4.2 India Flavor Masking Agents Market Breakdown by Application
  - 9.3.5.5 Australia Flavor Masking Agents Market Revenue and Forecasts To 2030 (US$ Thousand)
    - 9.3.5.5.1 Australia Flavor Masking Agents Market Breakdown by Type
    - 9.3.5.5.2 Australia Flavor Masking Agents Market Breakdown by Application
  - 9.3.5.6 South Korea Flavor Masking Agents Market Revenue and Forecasts To 2030 (US$ Thousand)
    - 9.3.5.6.1 South Korea Flavor Masking Agents Market Breakdown by Type
    - 9.3.5.6.2 South Korea Flavor Masking Agents Market Breakdown by Application
  - 9.3.5.7 Rest of Asia Pacific Flavor Masking Agents Market Revenue and Forecasts To 2030 (US$ Thousand)
    - 9.3.5.7.1 Rest of Asia Pacific Flavor Masking Agents Market Breakdown by Type
    - 9.3.5.7.2 Rest of Asia Pacific Flavor Masking Agents Market Breakdown by Application
9.4 Middle East & Africa
- 9.4.1 Middle East & Africa Flavor Masking Agents Market Overview
- 9.4.2 Middle East & Africa Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
- 9.4.3 Middle East & Africa Flavor Masking Agents Market Breakdown by Type
  - 9.4.3.1 Middle East & Africa Flavor Masking Agents Market and Forecasts and Analysis - By Type
- 9.4.4 Middle East & Africa Flavor Masking Agents Market Breakdown by Application
  - 9.4.4.1 Middle East & Africa Flavor Masking Agents Market and Forecasts and Analysis - By Application
- 9.4.5 Middle East & Africa Flavor Masking Agents Market Revenue and Forecasts and Analysis - By Countries
  - 9.4.5.1 Middle East & Africa Flavor Masking Agents Market Breakdown by Country
  - 9.4.5.2 South Africa Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
    - 9.4.5.2.1 South Africa Flavor Masking Agents Market Breakdown by Type
    - 9.4.5.2.2 South Africa Flavor Masking Agents Market Breakdown by Application
  - 9.4.5.3 Saudi Arabia Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
    - 9.4.5.3.1 Saudi Arabia Flavor Masking Agents Market Breakdown by Type
    - 9.4.5.3.2 Saudi Arabia Flavor Masking Agents Market Breakdown by Application
  - 9.4.5.4 UAE Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
    - 9.4.5.4.1 UAE Flavor Masking Agents Market Breakdown by Type
    - 9.4.5.4.2 UAE Flavor Masking Agents Market Breakdown by Application
  - 9.4.5.5 Rest of Middle East & Africa Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
    - 9.4.5.5.1 Rest of Middle East & Africa Flavor Masking Agents Market Breakdown by Type
    - 9.4.5.5.2 Rest of Middle East & Africa Flavor Masking Agents Market Breakdown by Application
9.5 South & Central America
- 9.5.1 South & Central America Flavor Masking Agents Market Overview
- 9.5.2 South & Central America Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
- 9.5.3 South & Central America Flavor Masking Agents Market Breakdown by Type
  - 9.5.3.1 South & Central America Flavor Masking Agents Market and Forecasts and Analysis - By Type
- 9.5.4 South & Central America Flavor Masking Agents Market Breakdown by Application
  - 9.5.4.1 South & Central America Flavor Masking Agents Market Revenue and Forecasts and Analysis - By Application
- 9.5.5 South & Central America Flavor Masking Agents Market Revenue and Forecasts and Analysis - By Countries
  - 9.5.5.1 South & Central Flavor Masking Agents Market Breakdown by Country
  - 9.5.5.2 Brazil Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
    - 9.5.5.2.1 Brazil Flavor Masking Agents Market Breakdown by Type
    - 9.5.5.2.2 Brazil Flavor Masking Agents Market Breakdown by Application
  - 9.5.5.3 Argentina Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
    - 9.5.5.3.1 Argentina Flavor Masking Agents Market Breakdown by Type
    - 9.5.5.3.2 Argentina Flavor Masking Agents Market Breakdown by Application
  - 9.5.5.4 Rest of South & Central America Flavor Masking Agents Market Revenue and Forecasts to 2030 (US$ Thousand)
    - 9.5.5.4.1 Rest of South & Central America Flavor Masking Agents Market Breakdown by Type
    - 9.5.5.4.2 Rest of South & Central America Flavor Masking Agents Market Breakdown by Application

10. Flavor Masking Agents Market - Impact of COVID-19 Pandemic

10.1 Pre & Post COVID-19 Impact

11. Competitive Landscape

11.1 Heat Map Analysis By Key Players
11.2 Company Positioning & Concentration

12. Company Profiles

12.1 Sensient Technologies Corp
- 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 Firmenich International SA
- 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 Tate & Lyle Plc
- 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 Archer-Daniels-Midland Co
- 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 Kerry Group Plc
- 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 Carmi Flavor & Fragrance Co Inc
- 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 Synergy Flavors Inc
- 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 Virginia Dare Extract Co Inc
- 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 GEO Specialty Chemicals Inc
- 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 Koninklijke DSM NV
- 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