REDDING, Calif., July 17, 2024 /PRNewswire/ — According to a new market research report titled, ‘Taste Modulators Market Size, Share, Forecast, & Trends Analysis by Type (Sweet, Salt, Fat Modulators), Form (Liquid, Powder), Application (Beverages {Non-Alcoholic, Alcoholic Beverage}, Food {Dairy, Savory, Snacks, Meat Products)- Global Forecast to 2031,’ the taste modulators market is expected to reach $2.50 billion by 2031, at a CAGR of 7.3% from 2024 to 2031.
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The growth of this market is driven by the rising consumer awareness regarding health and wellbeing, growing consumer demand for low-calorie food products with original taste, and the wide range of benefits of taste modulators. Additionally, increasing demand for innovative beverages and the expanding functional food industry offers significant growth opportunities for taste modulator manufacturers. However, stringent regulations and international standards for taste modulators restrain the market’s growth.
The key players profiled in the taste modulators market are DSM-Firmenich AG (Netherlands), International Flavors & Fragrances, Inc. (U.S.), Givaudan SA (Switzerland), Kerry Group plc (Ireland), Ingredion Incorporated (U.S.), Symrise AG (Germany), Sensient Technologies Corporation (U.S.), Tate & Lyle PLC (U.K.), Corbion N.V. (Netherlands), Carmi Flavor & Fragrance Co. Inc (U.S.), Flavorchem Corporation (U.S.), Icon Foods (U.S.) Synergy Flavors, Inc. (U.S.) and Archer-Daniels-Midland Company (U.S.).
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Key Findings in the Taste Modulators Market Study:
Based on type, the taste modulators market is segmented into sweet modulators, salt modulators, fat modulators, and other taste modulators. In 2024, the sweet modulators segment is expected to account for the largest share of 47.1% of the taste modulators market. The large market share of this segment is attributed to the desire for reduced sugar consumption, rising awareness about the ill effects of sugar consumption, growing incidences of diabetes and obesity, high demand for healthier and low-caloric foods, and a wide range of applications.
Based on form, the taste modulators market is segmented into powder and liquid. The liquid segment is expected to register the highest CAGR during the forecast period 2024–2031 due to the increasing demand from beverage manufacturers. In food and beverage product manufacturing, liquid taste modulators help to improve viscosity, mouthfeel, product stability, texture, shelf life, taste, and visual aspects.
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Based on application, the taste modulators market is segmented into beverages, food, pharmaceuticals, and other applications. In 2024, the beverages segment is expected to account for the largest share of 43.8% of the taste modulators market. The large market share of this segment is attributed to the high demand for healthy and functional beverages, high adoption of taste modulators in non-alcoholic beverages, strong growth in the beverage industry, and increased promotional and advertisement strategies about clean labels by beverage manufacturers.
Based on geography, in 2024, North America is expected to account for the largest share of 37.1% of the taste modulators market. However, Asia-Pacific is slated to register the highest growth rate of 8.8% during the forecast period due to growth in the food and beverage industry, rising health awareness among consumers, and rising prevalence of obesity and diabetes.
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Scope of the report:
Taste Modulators Market—by Type
- Sweet Modulators
- Salt Modulators
- Fat Modulators
- Other Taste Modulators
Taste Modulators Market—by Form
- Powder
- Liquid
Taste Modulators Market—by Application
- Beverages
- Alcoholic Beverages
- Non-alcoholic Beverages
- Food
- Dairy Products
- Snacks and Savory Products
- Meat, Poultry, and Seafood
- Other Food Products
- Other Applications
Taste Modulators Market—by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East & Africa
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