A recent study reported that in 2018 the flavor carriers market was valued at approximately $1.38 billion. The value is expected to reach $1.85 billion by the end of 2028 as a result of a projected CAGR of 3.0% across 10 years.
The flavor carriers market is expected to gain a substantial increase in growth from the convenience food products and dairy industry which both have high projected growth over the next several years. The increasing spending power of consumers in Asian markets such as India and China are fueling demand for convenience food and ready to drink beverages.
The increased demand for natural and healthy products also benefits the flavor carriers market as flavor emulsions are used to enhance their durability and taste.
Market growth is in the initial phase for flavor carriers in the alcoholic beverages sector, but rising demand is expanding flavor innovation.
The market share for the flavor emulsion segment is projected to hold at 74.6% by the close of 2018 in the flavor carriers market. The value is estimated to grow at a CAGR of 2.7% through 2028.
The European region is projected to increase to a value of $111.8 million with a CAGR of 2.2% through 2028. The Pacific Asian region expected to reach $228.8 million with a CAGR of 4.2% through 2028
