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. The market is driven by factors such as the growing awareness among consumers about the ill-effects of excessive salt intake and the increased consumer demand for low-calorie products while retaining the original taste. There has been an increasing demand for reduced/zero calorie and reduced salt products that do not compromise on the taste. This has fueled the demand for taste modulators as well.
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On the basis of application, the market has been segmented into food and beverages. The beverages segment dominated the global market in 2018. 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. The rise in the consumption of energy & sports drinks in North America and Europe is also expected to support the overall growth of the market.
Based on type, the market has been segmented into sweet modulators, salt modulators, and fat modulators. The sweet modulators segment dominated the market in 2018, and this trend is expected to continue through the forecast period. The demand for sweet modulators has been growing significantly due to the increasing awareness among consumers regarding various diseases such as obesity and diabetes.
The Asia Pacific region is expected to grow at the highest CAGR during the forecast period. China and India have witnessed major growth in the taste modulators market, acquiring significant shares in the region. 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.
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This report includes a study of various taste modulators, along with the product portfolios of leading companies. It includes the profiles of leading companies such as DSM (Netherlands), Kerry (Ireland), Ingredion (US), Givaudan (Switzerland), and Firmenich (Switzerland).