Newly released data from the taste modulators market analysis by Future Market Insights shows that the global demand for the taste modulator market enjoyed a Year-on-year growth of 9.4% with market size of USD 1,666. It is estimated that the market size in 2022 will be worth USD 1,840 Million. The CAGR is estimated to be 10.5% and the market size is forecasted to increase to USD 3,070 by 2032.
The global demand for taste modulators is growing due to an increase in the number of people suffering from chronic diseases such as cancer, heart disease, and diabetes, which has influenced people to adopt healthier eating habits, which will eventually drive the global market for taste modulators. According to the Centers for Disease Control and Prevention, seven out of ten people have a chronic disease, and four out of ten adults have two or more chronic diseases.
Taste modulators are becoming increasingly popular among fitness enthusiasts due to their ability to produce nutritionally balanced products while maintaining taste quality. They can be found in a variety of sports and energy drinks. Another factor driving the growth of the taste modulator market is their ability to replace salt or sugar, assisting in the regulation of an individual’s sugar and salt intake.
Furthermore, the rising demand for large quantities in the beverage industry around the world drives market growth with the help of sweet taste modulators. Soft drink consumption, such as flavoured sodas and colas, is declining globally due to their high sugar, phosphoric acid, artificial colouring, caffeine, and artificial sweeteners content, all of which can have negative effects on the human body. As a result, many consumers are abandoning carbonated beverages in favour of healthier alternatives. As a result, in order to meet consumer demand, many manufacturers are incorporating taste modulators into their products.
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Key Takeaways from Market Study
- North America is expected to have the largest global market share during the forecasted period.
- Thailand has increased the excise tax on alcoholic beverages, imported wine, and sugary beverages. Sugar consumption can be reduced by raising tax rates. As sugar consumption decreases, sweet taste modulator products enter the market, driving demand for the taste modulator market.
- India has the world’s second-highest number of diabetics. The demand for sweet taste modulators is increasing, which is driving the demand for the taste modulator industry.
- China has a very hectic way of life. With an increase in demand, the taste modulator market made its way to China.
- Australia is one of the most obese countries in the world. The country’s taste modulator market is driven by the demand for a healthy and nutritional diet.
“Taste modulators are increasingly being used in food products. The rising consumer demand for low-calorie food products, in particular, is propelling the taste modulators market forward,” says a Future Market Insights analyst.
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One of the key players’ primary strategies for achieving consolidation and optimizing their offerings is to pursue mergers and acquisitions. Furthermore, in order to gain dominance in local markets, these players merge with local players.
- Kerry Group Plc. announced in December 2018 that it had reached an agreement to acquire Ariake USA, Ariake Japan Co.’s North American business, and Southeastern Mills’ North American coatings and seasonings business (SEM).
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), and Senomyx are the key players in the global taste modulators market (California).
Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global taste modulator market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
- Sweet Modulators
- Salt Modulators
- Fat Modulators
- Dairy Products
- Bakery Products
- Confectionery Products
- Meat Products
- Alcoholic Beverages
- Non-Alcoholic Beverages
- North America
- Latin America
- South Asia
- East Asia
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