Taste Modulators Market Worth $1,831.3 Million By 2024
The growth of this market will be driven by factors such as growing consumer demand for low calorie products with original taste, increasing awareness regarding excessive salt intake, and enhanced flavor masking benefits of taste modulators. Moreover, increasing research on Positive Allosteric Modulators (PAM) further supports the growth of this market. However, stringent regulations and international standards for sugar and salt reducing ingredients hinders the growth of this market to some extent.
The global taste modulators market study presents historical market data in terms of values (2016 and 2017), estimated current data (2018), and forecasts for 2024-by type (sweet modulators, salt modulators, and fat modulators), application (food products and beverages). The study also evaluates industry competitors and analyzes the market at a regional and country level.
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On the basis of type, sweet modulators commanded the largest share of the global taste modulators market in 2017 as well as it is expected to grow at the fastest CAGR during the forecast period. The growth of this segment is mainly attributed to the increasing awareness among the customers regarding consumption of high sugar products and the increasing cases of diabetes and obesity worldwide.
On the basis of application, beverage commanded the largest share of the global taste modulators market in 2017 owing to increasing health consciousness among consumers; huge consumption of beverages such as sports drinks, energy drinks, beer etc.; and growing demand for low calorie and low sugar-based drinks.
This research report analyzes major geographies and provides comprehensive analysis of North America (U.S., Canada), Europe (Spain, France, Italy, Germany, U.K., and RoE), Asia-Pacific (China, India, Japan, and RoAPAC), Latin America, and Middle East & Africa. North America commanded the largest share of the global taste modulators market in 2017, followed by Europe and Asia Pacific. The largest share of this region is mainly attributed to high prevalence of diabetes and obesity, well established food and beverages industry, large demand for healthy food and drinks, huge food flavor industry, and presence of large number of taste modulators providers. However, Asia Pacific region is expected to witness the fastest growth during the forecast period. The rapid growth of this region is mainly due to increasing demand of processed food products in the emerging and developing countries such as India, China, Indonesia, and Thailand; growing health and wellness trend; rising prevalence of obesity and diabetes; and growing food and beverages industry.
The major players operating in the global taste modulators market are Kerry Group plc, Koninklijke DSM N.V., Ingredion Incorporated, Symrise AG, Sensient Technologies, Givaudan SA, Firmenich S.A., International Flavors and Fragrances, The Flavor Factory, Carmi Flavor and Fragrance Co. Inc, Flavorchem Corporation, and Senomyx, Inc., among others.
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