Taste Modulators Market Research Report 2020: Global Industry Analysis, Regional Outlook, Application, Share, Growth Opportunity, Demand Overview, Size Estimation, Sales Revenue Forecast To 2024

Market Scenario

Taste modulators are additives that modify the taste and improve the mouthfeel of various food products or beverages. They help in enhancing the existing flavour, masking off-notes, and replacing the lost flavor of beverages and food products. The global taste modulators market is expected to register an impressive CAGR during the forecast period owing to the rising health awareness among consumers. The growing number of health-conscious people across the globe is boosting the demand for healthy food products and beverages, which, in turn, is driving the consumption of taste modulators as a food additive. Additionally, increasing awareness of the ill-effects of excess consumption of salt and sugar is also a crucial determinant catalysing market growth. Sweet modulators help in enhancing the sweetness of food products and beverages with low-calorie sweeteners or sugar substitutes.

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The implementation of stringent regulations regarding the use of additives and taste modulators, especially in North America and Europe, is impeding the growth of the taste modulators market. Manufacturers of artificial and natural sweeteners must comply with rigorous health and safety regulations during production. However, favourable US regulations for the introduction of novel sweeteners is expected to render lucrative opportunities for market players active in the country.

Segmentation

The global taste modulators market has been segmented based on type, application, and region.

Based on type, the global taste modulators market has been divided into sweet modulators, salt modulators, and others.

The global taste modulators market has also been classified, on the basis of application, as dairy and frozen desserts, bakery and confectionary, beverages, snacks and savory products, meat, poultry, and seafood products, and others.

The global taste modulators market has been studied with regard to four key regions—North America, Europe, Asia-Pacific, and the rest of the world.

The North American taste modulators market has further been segmented into the US, Canada, and Mexico. The European taste modulators market has been classified as the UK, Germany, France, Italy, Spain, and the rest of Europe. The taste modulators market in Asia-Pacific has been divided into China, India, Japan, Australia and New Zealand, and the rest of Asia-Pacific. The taste modulators market in the rest of the world has been segmented into South America, the Middle East, and Africa.

Key Players

Givaudan (Switzerland), Koninklijke DSM N.V. (Netherlands), Kerry Group plc (Ireland), Sensient Technologies Corporation (US), Ingredion Incorporated (US), Carmi Flavor & Fragrance Co., Inc. (US), Firmenich SA (Switzerland), International Flavors & Fragrances Inc. (US), Symrise (Germany), and The Flavor Factory (US) are some of the key players in the global taste modulators market.

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Regional Market

North America is expected to dominate the global taste modulators market during the forecast period due to the increasing demand for healthy food ingredients in the region. The presence of prominent market players in North America is also expected to catalyse the regional market growth. Asia-pacific is expected to register the highest CAGR during the forecast period of 2019 to 2024 owing to the rising health awareness and growing presence of market players in the region.

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This release was published on openPR.