Chicago, April 21, 2023 (GLOBE NEWSWIRE) -- The global taste modulators market size was valued at USD 1.3 billion in 2022. The market is estimated to expand USD 1.9 billion by 2027, exhibiting a CAGR of 7.3% over the projected period. The market for taste modulators has a positive outlook at a global level due to the increase in demand for reduced/zero calorie and reduced salt products without compromising on the taste. MarketsandMarkets™ provides this information in its research report, titled “Taste Modulators Market Global Forecast, 2022-2027”.
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Key Industry Development:
The taste modulators market has witnessed significant industry developments in recent years. One of the key developments is the increasing demand for natural taste modulators, as consumers are becoming more health-conscious and demanding clean label products. Natural taste modulators are extracted from natural sources, such as plants, and are considered safe and healthy alternatives to artificial sweeteners and flavor enhancers.
Report Scope & Segmentation:
| Forecast Period | 2022-2027 |
| Growth Forecast Period - 2022 to 2027 | CAGR of 7.3% |
| 2027 Value Projection | USD 1.9 billion |
| Base Year | 2021 |
| Segments covered | Application, Type, and Region |
| Regions covered | North America, Europe, Asia Pacific, South America, and Rest of the World |
Key Takeaways:
- Taste modulators market is estimated to expand USD 1.9 billion by 2027.
- The taste modulators market has a positive outlook at a global level due to the increase in demand for reduced/zero calorie and reduced salt products without compromising on the taste.
- The sweet modulators segment is estimated to occupy the largest market share during the forecast period in terms of value.
- North America is the largest region with a significant CAGR in the taste modulator market. This is attributed to factors such as an increase in consumer preference for healthy products.
- The market is highly competitive, with numerous players operating in the industry. Key players include IFF, Givaudan, Kerry Group, Ingredion, Symrise etc.
Drivers and Restraints:
Increased consumer demand for reduced-calorie products with original taste of sugar
The prevalence of diabetes and obesity has been increasing globally. Sugar-sweetened soft drinks are a major source of excess calories and glycemic load in the diet. Obesity elevates the risk of numerous diseases—from Type-2 diabetes to cancer. Sugar substitutes such as high-intensity sweeteners reduce the concentration of sucralose while maintaining the intensity of sweetness. However, they exhibit off-tastes in the final product. Sweet modulators help get rid of these off-tastes, while maintaining the low-calorie content of food and beverages. In developed countries, the demand for healthier, low-caloric foods and sweeteners has been on the rise to tackle the adverse health effects of predominantly sedentary lifestyles.
Growing consumer awareness about food additives
There are major health effects of a few chemicals that make up natural and artificial taste modulators. A few compounds such as butyric acid and carvacrol are used as synthetic taste modulators, which can cause health problems. Also, there are certain toxins present in natural flavors extracted through fruits or plants. Such toxins can be harmful to the human body and cause health hazards if not treated properly. Regulatory authorities, government bodies, and NGOs are playing a significant role in raising consumer awareness regarding the health hazards of food additives. These effects restrain the market growth.
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Segments:
The sweet modulators segment is estimated to occupy the largest market share during the forecast period in terms of value.
The sweet modulators segment is estimated to hold the largest market share in the taste modulators market by type. Moreover, increasing awareness among consumers regarding various diseases such as obesity and diabetes, consumers increasingly focus on consuming healthy low-calorie food & beverage product. Taste modulators are also gaining popularity among consumers owing to enhanced taste and nutritional benefits, which helps improve the well-being of consumers.
The pharmaceutical application segment is estimated to grow at the highest growth rate during the forecast period.
Taste modulations have increasingly been adopted in the pharmaceutical industry for formulating better products and addressing growing health-related challenges. Oral administration of bitter drugs is often the biggest barrier for patient groups, such as pediatrics and geriatrics. According to a report by the American Association of Pediatrician’s, the unpleasant taste is the biggest barrier in the treatment of the pediatric population.
Regional Insights:
North America is currently the largest market for taste modulators, driven by the high demand for low-calorie and sugar-free food and beverage products. The region is home to several key players in the taste modulators market, which is driving the growth of the market. The increasing awareness of health and wellness and the growing prevalence of lifestyle diseases such as obesity and diabetes are also driving the demand for taste modulators in the region.
Europe is another significant market for taste modulators, with countries such as Germany, France, and the UK being the major contributors. The region's growth is driven by the increasing demand for clean label and natural food products, which has led to the development of natural taste modulators. The regulatory framework in Europe is also favorable for the use of taste modulators in food and beverage products, which is boosting the growth of the market in the region.
Asia-Pacific is a rapidly growing market for taste modulators, driven by the increasing demand for healthy food products and the growing food and beverage industry in countries such as China, India, and Japan. The region is expected to witness significant growth in the coming years, driven by factors such as rising disposable incomes and changing consumer preferences.
Latin America and the Middle East and Africa are also emerging markets for taste modulators, driven by the increasing demand for healthy and functional food products. The growing food and beverage industry and the increasing prevalence of lifestyle diseases are also driving the demand for taste modulators in these regions.
Overall, the taste modulators market is expected to witness strong growth in all regions, driven by the increasing demand for healthy food products and the widening application of taste modulators in various industries.
Key Companies in Taste Modulators Market Report:
- Koninklijke DSM N.V. (The Netherlands)
- IFF (US), Givaudan (Switzerland)
- Kerry Group (Ireland)
- Ingredion (US)
- Symrise (Germany)
- Sensient Technologies (US)
- Tate & Lyle PLC (UK)
- Corbion (Netherlands)
- Takasago International Corporation (Japan)
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Frequently Asked Questions (FAQs):
How big is the taste modulators market?
The taste modulators market size was USD 1.3 billion in 2022. It is expected to reach USD 1.9 billion by 2027.
How fast is the taste modulators market growing?
The taste modulators market will exhibit a CAGR of 7.3% during the forecast period, 2022-2027.
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