The taste modulators market is on a trajectory of substantial growth, with an estimated value of USD 1.3 billion in 2022, projected to reach USD 1.9 billion by 2027. The forecasted Compound Annual Growth Rate (CAGR) of 7.3% indicates a positive outlook for the global market. The surge in demand for reduced/zero calorie and reduced salt products, without compromising on taste, is a key driver for this growth.
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North America and Europe Lead, Asia Pacific Emerges as the Fastest-Growing Region
Contributing significantly to the taste modulators market, North America and Europe showcase robust growth. However, the Asia Pacific region is positioned as the fastest-growing market, fueled by factors such as increased disposable income, urbanization, and heightened consumption of bakery, dairy, confectionery, and meat products, both in developing and developed economies.
Sweet Modulators Claim Largest Market Share
Among the types of taste modulators, the sweet modulators segment is anticipated to dominate the market, holding the largest share. Rising consumer awareness of health concerns, such as obesity and diabetes, is driving the preference for healthy, low-calorie food and beverage products. Taste modulators, with their enhanced taste and nutritional benefits, are gaining popularity among consumers, contributing to their overall well-being.
Pharmaceutical Application Segment to Witness Highest Growth
Taste modulators are experiencing increased adoption in the pharmaceutical industry, especially in formulating products to address health-related challenges. Overcoming the barrier of unpleasant taste in the oral administration of bitter drugs, particularly for pediatric and geriatric patient groups, has become a focus area. The American Association of Pediatricians identifies the unpleasant taste as a significant hindrance in pediatric treatment.
Steady Growth Expected in Asia Pacific Market
The Asia Pacific taste modulators market is poised for steady growth in 2022, driven by the rising demand for processed food with reduced sugar, salt, and fat content. Population growth, changing consumer tastes and preferences, and heightened awareness of healthy diets contribute to the increasing demand in the region.
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China Leads Growth in Asia Pacific
China is experiencing rapid growth in the taste modulators market. Increased consumer awareness of a healthy diet and the adverse effects of excess sugar and salt consumption are key drivers. The region’s high growth potential, influenced by lifestyle changes and increased income in rural areas, contributes to the strong demand for processed food with taste modulators.
Key Players Shaping the Industry
Leading companies in the taste modulators market, such as Koninklijke DSM N.V. (the Netherlands), IFF (US), Givaudan (Switzerland), Kerry Group (Ireland), Ingredion (US), Symrise (Germany), Sensient Technologies (US), Tate & Lyle PLC (UK), Corbion (Netherlands), and Takasago International Corporation (Japan), are actively shaping the industry. This report includes a comprehensive study of their marketing and development strategies, along with detailed insights into their product portfolios.
