NEWARK, Del, Aug. 05, 2024 (GLOBE NEWSWIRE) -- According to Future Market Insights (FMI), the global demand for Flavor Modulators is expected to valued at USD 1,670.6 million by 2024 and is estimated to reach a value of USD 3,340.6 million by 2034, with the global market reflecting a CAGR of 7.2% over the assessment period 2024–2034
Nowadays, the modern consumer is becoming increasingly health-conscious and informed about the ingredients in their food, which is leading to a shift towards clean label products. Clean label products are generally perceived as natural, free from artificial additives, preservatives, and colors. As consumers look labels more closely, they demand transparency from food manufacturers about the ingredients and processes used in their products. This shift is driving the market for flavor modulators, which play a crucial role in enhancing the taste of clean label products without relying on artificial additives.
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One of the key reasons for this growing preference is the increasing awareness of the potential health risks associated with artificial ingredients. Studies linking synthetic additives to various health issues have made consumers wary of products containing them. As a result, there is a heightened demand for natural alternatives that can deliver the same taste and sensory experience. Flavor modulators, derived from natural sources, meet this need by enabling food manufacturers to reduce sugar, salt, and fat content while maintaining or enhancing flavor profiles.
Additionally, the clean label trend is fueled by the broader movement towards organic and non-GMO foods. Consumers are not just looking for healthier options; they also want products that align with their values regarding environmental sustainability and ethical sourcing. Flavor modulators that comply with these standards are highly sought after, as they allow companies to position their products within this growing market segment.
What are the Various Factors Driving the Flavor Modulator Market?
The flavor modulator market has received a lot of traction in the industry.
In the food industry, flavor modulators change the taste of products. The increasing population, along with the desire for low-sugar and low-fat content foods, has boosted the demand for flavor modulators.
In addition to the food and beverage market, there is substantial demand for flavor modulators in the pharmaceutical market, too, because some medicines have a bitter flavor. To change the flavor of those medicines, flavor modulators are used in some tablets and cough syrups, which thus attracts younger consumers and results in an increase in flavor modulator market sales.
In recent years, the number of anti-smokers has increased, resulting in an increased demand for throat lozenges and breath fresheners, thus assisting the flavor modulators market in the medicated segment to significantly grow in the future. Furthermore, manufacturers seeking to enter the flavor modulators market should focus on understanding the needs of their customers, along with offering products accordingly with specified functionality.
Further, manufacturers should develop consumable products that are associated with several health benefits in order to capitalize on the increasing health-consciousness among the customer base in the global flavor modulators market. Understanding customer needs and developing products appropriately, with specific characteristics, would be the key focus area for new players entering the market.
Some animal feed manufacturers are now using flavor modulators as a way of altering the flavor of animal feed, increasing the market demand for flavor modulators. Medicated confections, such as hard candies and lozenges, are widely used to provide relief from minor throat irritation, colds, and other conditions because they have a better flavor. In the coming years, manufacturers of flavor modulators are expected to benefit from the limited product range of medicated confectionery.
Key Takeaways from the Report:
- Global Flavor Modulator Market is expected to be valued at USD 1,670.6 million in 2024 and it is expected to reach market valuation of USD 3,340.6 million by 2034
- The Global Flavor Modulator Market is expected to grow with a CAGR of 7.2% generate an absolute $ opportunity of USD 1,670.0 million over the forecast period
- Based on End Use, Chocolate and Confectionary segment is expected to dominate the flavor modulator market holding 27.1% share in 2024 and it is expected to grow with an CAGR of 5.3% over the forecast period
- By Product Type, sweet flavor modulator segment is expected to dominate the flavor modulator market holding 36.5% value share in 2024 and it is expected to grow significantly over the forecast period with an CAGR of 4.9%
"Embracing a flavor revolution, the burgeoning flavor modulator market offers a tantalizing investment prospect. Driven by increasing health awareness, clean label trends, and innovative product development, this market is poised for robust growth. Astute investors can relish the opportunity for substantial returns while playing a pivotal role in transforming the global food landscape" - Nandini Roy Choudhury, Client Partner at Future Market Insights
Who is Winning:
Koninklijke DSM N.V., Kerry Group plc, Ingredion Incorporated, Symrise AG, Sensient Technologies Corporation, Givaudan SA, Firmenich S.A., International Flavors & Fragrances Inc., Carmi Flavor, Fragrance Co. Inc, and Guangdong Zhaoqing Flavor Factory Co., Ltd. the manufacturers listed in the report.
These manufacturer’s are continuously focusing on several key strategies to enhance their market presence and gain competitive advantage. One major strategy is forming strategic collaborations and partnerships with other industry players, which allows them to leverage shared resources, expertise, and market reach. In addition to this, these key players are heavily investing in product innovation in order to introduce new and improved offerings that meet changing consumer demands.
Research and development (R&D) is another critical area of focus, enabling these companies to stay at the forefront of technological advancements and create cutting-edge solutions. They are also committed to sustainable sourcing and production practices, aiming to minimize their environmental impact and appeal to environmentally conscious consumers.
Leading Flavor Modulator Companies
- Koninklijke DSM N.V.
- Kerry Group plc
- Ingredion Incorporated
- Symrise AG
- Sensient Technologies Corporation
- Givaudan SA
- Firmenich S.A.
- International Flavors & Fragrances Inc.
- Carmi Flavor and Fragrance Co. and Fragrance Co. Inc
- Guangdong Zhaoqing Flavor Factory Co., Ltd.
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Get More Valuable Insights
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global Flavor Modulators Market presenting historical demand data (2019 to 2023) and forecast statistics for the period from 2024 to 2034.
The study incorporates compelling insights on the market based on Product Type (Salt flavor modulator, sweet flavor modulator and Fat flavor modulator), By Form (Powder, Granules, and Liquid), By End Use (Alcoholic beverages, Non-alcoholic beverages, Chocolate and Confectionary, Dairy, Instant Soups and Sauces, Bakery, Animal Feed, and Dietary supplements), By Region (North America, Latin America, Europe, East Asia, South Asia, Oceania, Middle East and Africa).
Authored by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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