LONDON, Dec. 05, 2018 (GLOBE NEWSWIRE) -- According to this latest publication from Meticulous Research®, the global taste modulators market is expected to grow at a CAGR of 7.9% from 2018 to reach $1,831.3 million by 2024. The growth of this market will be driven by factors such as growing consumer demand for low calorie products with original taste, increasing awareness regarding excessive salt intake, and enhanced flavor masking benefits of taste modulators. Moreover, increasing research on Positive Allosteric Modulators (PAM) further supports the growth of this market.
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Sweet modulators dominated the global taste modulators market, mainly due to increasing awareness among consumers regarding consumption of high sugar products, growing cases of diabetes and obesity globally, and wide use as a replacement for sugar especially in the beverage industry. Also, the cost effectiveness, natural and flavor characterization properties, and thermal stability further propel the demand for sweet modulators.
On the basis of application, beverages commanded the largest share of the global taste modulators market, owing to the increasing health consciousness among consumers; huge consumption of beverages such as sports drinks, energy drinks, beer etc., and growing demand for low calorie and low sugar-based drinks.
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The taste modulators market for confectionary products is expected to witness the fastest growth through 2024, owing to increasing demand to regulate the sweetness in confectionary products as well as to maintain an acidity balance between the sweet and sour taste of the product.
Geographically, North America commanded the largest share of the global market, followed by Europe and Asia Pacific. The largest share of this region is mainly attributed to high prevalence of diabetes and obesity, rising cases of cardiac and renal problems, a well-established food and beverages industry, large demand for healthy food and drinks, a huge food flavor industry, and the presence of a large number of taste modulator providers.
The major players operating in the global taste modulators market are Kerry Group plc, Koninklijke DSM N.V., Ingredion Incorporated, Symrise AG, Sensient Technologies, Givaudan SA, Firmenich S.A., International Flavors and Fragrances, The Flavor Factory, Carmi Flavor and Fragrance Co. Inc, Flavorchem Corporation, and Senomyx, Inc.
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