Seattle, Sept. 21, 2023 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global taste modulators market is expected to grow from USD 2.96 billion in 2021 to USD 6.70 billion by 2030, at a CAGR of 9.51% during the forecast period 2022-2030.
A sedentary lifestyle, lack of physical activity, and bad diet have increased the number of people suffering from acute diseases. Individuals' poor diets typically consist of highly processed foods and drinks with high levels of sugar, salt, and fat. These ingredients lead to obesity and diabetes. Growing consumer awareness about the harmful effects of sugar and salt has prompted manufacturers of packaged foods and drinks to create fat, sugar, and salt-free products without sacrificing the original flavor. Therefore, the global rise in diabetes and obesity would drive the taste modulators industry. There has been an increase in demand for food & beverages in developing nations due to urbanization and rising disposable income. A significant section of the young population is motivated to purchase healthier goods that are low in calories, sugar-free, and fat-free. To appeal to health-conscious consumers, market firms are processing bread, confectionery, dairy, and meat goods with flavor enhancers or taste modulators. Therefore, the thriving packaged foods, beverages, meat, dairy, and seafood industry will provide lucrative opportunities for the taste modulators market. The stringent government regulations will hamper the market's growth. The increasing studies concluding taste modulators as a health hazard will challenge the market's growth. Scientific investigations led by the government under strict food safety laws should study the impact of taste modulators and inform the general public about their benefits and ill effects. Such transparent messaging will help the market in overcoming its restraints and challenges.
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Competitive Strategy
To enhance their market position in the global taste modulators market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• Sensient Food Colours introduced the SENSASALT line of flavor enhancers based on yeast extract in 2021. These products lower sodium content by up to 50%. The SENSASALT line of taste modulators has numerous applications in savory foods, including soups, gravy, pork, cheese, sauce, dips, and baking.
Market Growth & Trends
According to the World Obesity Federation, 39% of adults were obese globally in 2021. By 2030, the number of obese people in the world would be one billion. Furthermore, 1 in every five women and 1 in every seven men will be obese by 2030. A large proportion of these obese individuals fall in the category of adolescents. Similarly, around 550 million individuals will be living with diabetes in 2022, according to International Diabetes Federation. The number is estimated to reach 650 million by 2030 and 800 million by 2050. The busy lifestyle and increasing disposable income of the population have increased the demand for processed food and beverages. Processed foods and beverages are one of the leading causes of rising diabetes and obesity as they are high in sugar, salt, and fat to enhance their flavor, taste, and texture. The rising awareness about the ill effects of high sugar and salt content is increasing the demand for products with sugar-free, salt-free, fat-free, and no added preservatives. Increasing awareness about health and well-being and the importance of having an active lifestyle to avoid health problems in the later stages of life. Increased adoption of recreational activities like biking, hiking, and running has led to the inclusion of sports food, drinks, and supplements to sustain the gains from these activities. Nutritional drinks, foods, and supplements use flavor enhancers to aid the growth of the taste modulators market.
Report Coverage Details
| Report Coverage | Details |
| Forecast Period | 2021-2030 |
| Base Year | 2020 |
| Market Size in 2021 | USD 2.96 billion |
| Market Size in 2030 | USD 6.70 billion |
| CAGR | 9.51% |
| No. of Pages in Report | 232 |
| Segments Covered | type, application, Regions |
| Drivers | Increasing cases of diabetes and obesity |
| Opportunities | The growing consumer demand in developing economies |
| Restraints | Stringent government regulations |
Key Findings
• In 2021, the sweet modulators segment dominated the market with the largest market share of 59% and market revenue of 1.74 billion.
The product type segment is divided into sweet modulators, salt modulators, and fat modulators. In 2021, the sweet modulators segment dominated the market with the largest market share of 59% and market revenue of 1.74 billion.
• In 2021, the beverages segment accounted for the largest share of the market, with 44% and market revenue of 1.30 billion.
The application segment is divided into the bakery, dairy, confectionery, meat products, snacks & savory products, beverages, frozen desserts, seafood, and others. In 2021, the beverages segment accounted for the largest share of the market, with 44% and market revenue of 1.30 billion.
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Regional Segment Analysis of the Taste Modulators Market
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, the North American region emerged as the largest market for the global taste modulators market, with a market share of around 39.12% and 1.15 billion of the market revenue in 2021. The Asia Pacific is expected to be the largest market during the forecast period. The taste modulators market in the Asia Pacific has been expanding rapidly. Given the region's rapid urbanization and expanding western influence on the youthful population, the Asia Pacific is predicted to grow quickly during the projected period. The western food culture of diet soda, packaged foods without added sugar, fat, or salt, and low-sodium meals will aid in the growth of the flavor modulators business in the area. The market for these goods is also growing due to the population's rising disposable income. the growing network of retail chains/supermarkets is improving the accessibility of these products, thereby contributing to developing the region's taste modulators industry.
Key players operating in the global taste modulators market are:
• Carmi Flavor & Fragrance Co. Inc.
• Firmenich SA
• Givaudan
• Ingredion Incorporated
• International Flavors and Fragrances Inc.
• Kerry Group PLC
• Senomyx Inc.
• Sensient Technologies Corporation
• Symrise
• The Flavor Factory
This study forecasts global, regional, and country revenue from 2019 to 2030. The Brainy Insights has segmented the global taste modulators market based on the below-mentioned segments:
Global Taste Modulators Market by Product Type:
• Sweet Modulators
• Salt Modulators
• Fat Modulators
Global Taste Modulators Market by End User:
• Bakery
• Dairy
• Confectionery
• Meat Products
• Snacks & Savory Products
• Beverages
• Frozen Desserts
• Seafood
• Others
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About the report:
The global taste modulators market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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