The global taste modulators market is projected to grow at a CAGR of 10.2%
LONDON, July 24, 2018 /PRNewswire/ -- The global taste modulators market is projected to grow at a CAGR of 10.2%.
The global taste modulators market is estimated at USD 1,084.2 million in 2018 and is projected to reach USD 1,758.7 million by 2023, at a CAGR of 10.2% during the forecast period. One of the primary factors driving the market is the increased demand for reduced-calorie products with the original taste of sugar and growing awareness among consumers about the ill-effects of excessive salt intake. The major restraining factors for the taste modulators market include stringent regulations and international standards for sweet- and salt-reducing ingredients.
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Globally, taste modulators are used to restore the taste of the finished product where the reduction of calories, salt, and fat is required. They are added to sugar substitutes to mask the aftertaste and off flavor and to -reducing agents to reduce the sodium content and maintain or enhance the salinity perception.
The sweet modulators segment, by type, is projected to grow at a high CAGR during the forecast period.
Sweet modulators provide a sweet taste, while also ensuring zero calories, to food products.They are used by manufacturers to alter the sweet taste.
Sweet modulators are used in various food applications such as bakery products, confectionery products, and snacks & savory products. With the increasing awareness among consumers regarding various diseases such as obesity and diabetes, the demand for healthy low-calorie food & beverage products is witnessing an increase.
The beverages segment, by application, is projected to grow at the highest CAGR during the forecast period.
Taste modulators are used in products such as sports drinks, energy drinks, beer, and whiskey. They are widely used to manufacture low-calorie beverages and enhance their taste as consumer tastes & preferences are more inclined toward healthy drinks.
North America is estimated to account for the largest market share in 2018, whereas Asia Pacific is projected to grow at the highest CAGR during the forecast period.
The North American market is projected to account for the largest share through 2023.This is attributed to factors such as an increase in consumer preference for healthy products and increase in the adoption of low-fat & low-calorie content foods.
Manufacturers in the US are utilizing an optimized approach to manufacture taste modulators to deliver products with a range of tastes and nutritional benefits to cater to the demand.
The Asia Pacific market is projected to grow at the highest CAGR from 2018 to 2023. The region witnesses a high demand for taste modulators due to the rise in meat consumption, population growth, and increase in awareness about healthy & nutritional food products.
Break-up of Primaries:
• By Company Type: Tier 1: 35%, Tier 2: 45%, and Tier 3: 20%
• By Designation: C-Level: 25%, Director-level: 30%, and Manager-level: 45%
• By Region: North America: 30%, Europe: 20%, Asia Pacific: 35%, and RoW*: 15%
*RoW includes South America and the Middle East & Africa.
Note: Tier 1, Tier 2, and Tier 3 companies are classified on the basis of their product portfolios and regional and global presence.
The key players in the taste modulators market include the following:
• DSM (Netherlands)
• Kerry (Ireland)
• Ingredion (US)
• Givaudan (Switzerland)
• Firmenich (Switzerland)
• International Flavors and Fragrances (US)
• Symrise (Germany)
• Sensient Technologies (US)
• The Flavor Factory (US)
• Carmi Flavor & Fragrance (US)
• Flavorchem Corporation (US)
• Senomyx (California)
Research Coverage
The report provides an analysis of the taste modulators market across different segments.It aims at estimating the market size and future growth potential of this market on the basis of type, application, and region.
The report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and business strategies.
Key Reasons to Buy the Report:
• To get an overview of the global taste modulators market
• From an insight perspective, this research report has focused on detailed analyses—industry, the market share of top players, and company profiles
• This report also analyzes the high-growth segments of the global taste modulators market—its high-growth regions, drivers, restraints, opportunities, and challenges
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