Taste Modulators Market - Industry Analysis, size, Share and Upcoming Trends

Author : univdatos
Publish Date : 2021-06-01 17:40:45
Taste Modulators Market - Industry Analysis, size, Share and Upcoming Trends

Research report presented by UnivDatos, Emphasis on Type (Sweet Modulators, Salt Modulators, Fat Modulators); Application [ Food (Bakery Products, Confectionery Products, Snacks & Savory Products, Meat Products, Others) Beverages (Alcoholic, Non-alcoholic)] and Geographical analysis (key regions and countries).

As per the research report, Global Taste Modulators Market is expected to reach the market valuation of USD 2,553.58 million by 2027 expanding at a reasonable CAGR of 9.9% during the forecast period (2021-2027) from USD 1,322.5 million in 2020. Taste modulators are flavor enhancing agents offering flavor masking benefits that are used when food or beverages doesn't taste right usually because of the addition or removal of some ingredients from the product. They play an important role in formulating and developing more flavorful food and beverages alongside addressing the various growing health concerns all over the world. Taste modulators also help in improving the texture and hence, the mouthfeel of the various nutritionally optimized foodstuff. The health benefits associated with these products are one of the key drivers of the global taste modulators drinks market.

The worldwide demand for taste modulators is escalating due to the increase in the global burden of people suffering from chronic diseases including cancer, heart diseases, and diabetes has inclined people to adopt healthy eating habits which will drive the global market of taste modulators. For instance, according to the centers for disease control and prevention, 6 out of 10 people have a chronic disease and 4 out 10 adults have two or more. Amongst 133 million Americans, 45% of the population of America has at least one chronic disease. Furthermore, chronic diseases are responsible for 7 out of every 10 deaths, killing more than 1.7 million Americans each year. Taste Modulators are gaining huge popularity among fitness enthusiasts as it used in various sports drinks and energy drinks due to their ability to produce nutritionally balanced products while preserving their taste quality. Another factor driving the growth of the taste modulator market is their ability to act as a replacement for salt or sugar which eventually helps in regulating the sugar and salt intake of an individual.

Furthermore, the rising demand for a high scale of volume in the beverage industry across the globe drives the growth of the market. The consumption of soft drinks, such as colas and flavored sodas, is reducing globally as they have high sugar content, artificial coloring, phosphoric acid, artificial sweeteners, and caffeine which can cause negative effects on the human body. Owing to this, many consumers are shifting from carbonated drinks towards healthy beverages. As a result, many manufacturers are incorporating taste modulators in their products to meet the consumer's demand.

The Prevalence of Obesity and Diabetes is rising dramatically across the globe and obesity has nearly tripled since 1975, according to WHO. Obesity is among one of the leading causes of death worldwide as obese people are prone to many serious health conditions and illnesses. For instance, as per CDC, More than 900,000 adult COVID-19 hospitalizations occurred in the United States between the beginning of the pandemic and November 18, 2020. Models estimate that 271,800 (30.2%) of these hospitalizations were attributed to obesity. Given the aforementioned facts, many people are wanting to lose weight and are participating in various weight management programs focusing on low-calorie and low-fat diets. These factors have increased the worldwide demand for taste modulators owing to their ability to serve as sugar alternatives while maintaining the same mouthfeel and taste of the product. Furthermore, many governments have implemented taxes on sugary drinks to control obesity which is driving consumers to opt for less sweetened drinks which are further fueling the growth of the taste modulators market. For instance, in Latin America, 30% of carbonated drinks launched in 2018 had a low sugar claim, reflecting the current focus of both the industry and the consumers.

DSM, Kerry, Ingredion, International Flavors and Fragrances, Symrise, The Flavor Factory, Carmi Flavor & Fragrance, Flavorchem Corporation, Sensient Technologies, Senomyx are some of the prominent players operating in the global taste modulators market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with innovative products.

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Insights Presented in the Report

“Amongst Type, Sweet modulators segment holds the major share”

Based on the type, the market is fragmented into sweet, salt, and fat modulators. The sweet modulators grabbed the major market share and expected to maintain their dominance during the forecast period due to their ability to enhance the overall sweetness profile and mouth feel of various food commodities. In turn, many manufacturers are incorporating sweet modulators to develop low or zero-calorie food and beverages while preserving the true taste of sugar. Another factor responsible for the growing demand for sweet modulators is the increasing awareness among consumers regarding the ill effects of too much sugar consumption and various diseases caused because of it such as diabetes and obesity. For instance, About 422 million people worldwide have diabetes, the majority living in low-and middle-income countries, and 1.6 million deaths are directly attributed to diabetes each year.

Additionally, the implementation of sugar taxes in various countries like Malaysia, South Africa, Thailand, India, etc. has compelled many food manufacturers to use sugar alternatives in their products to meet the high demand for healthy food and drinks.

“Amongst Application, Beverage segment is anticipated to grow at the highest CAGR during the analyzed period”

Based on the application, the market is fragmented into food and beverages. Further, the food segment is sub-segmented into bakery products, confectionery products, snacks & savory products, meat products, and other foods. The beverage segment is also further divided into alcoholic and non-alcoholic beverages. The beverage segment holds the major share of the market and is expected to maintain its dominance over the projected timeframe owing to the rising number of health-conscious people coupled with their inclination towards nutritious drinks such as sports and energy drinks is driving the growth of the taste modulator market. For instance, As per National Center for Complementary and Integrative Health, 34% of men aged 18–24 consume energy drinks the most, and about a third of teens (31%) aged 12–17 drink them regularly. Furthermore, the use of taste modulators in other drinks such as beer and whiskey is also responsible for the growth of this segment.

“Amongst Food, Confectionery product segment holds the major share”

Based on the food, the market is fragmented into bakery products, confectionery products, snacks & savory products, meat products, and other food products. The confectionery products are likely to experience notable growth over the projected timeframe owing to the increasing demand for sugar-free confectionery products among diabetics and obese patients. For instance, In 2020, Russell Stover was the leading sugar-free chocolate candy brand in the United States with about 114.8 million US dollars in sales, reflecting the preferences of consumers.

“Amongst Beverage, Non-alcoholic segment is anticipated to grow at the highest CAGR during the analyzed period”

Amongst beverage types, the market is fragmented into alcoholic and non-alcoholic beverages. The non-alcoholic beverage segment dominates the market which is mainly attributed to increasing fitness-focused consumers and adoption of sports drinks, energy drinks, etc., and growing demand for zero-calorie and sugar-free drinks. For instance, In 2019, the combined consumption of sports and energy drinks was 866 million liters and Nearly 1.1 million consumers drink energy drinks once a day or more often in the United Kingdom.

“North America signifies one of the largest markets of taste modulators market”

For a better understanding of the market dynamics of the taste modulators market, a detailed analysis was conducted for different regions across the globe including North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of APAC), Rest of World. North America dominated the market and generated revenue of USD XX million in 2020 owing to the fast-paced modern lifestyle and high-income levels of the consumers in the region have led to a rise in the demand for taste modulators. Most of the companies in the food industry are introducing new flavors to cater to the middle-income group which helps to boost the growth of the taste modulators market.

Customization Options:

Global Taste Modulators Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.



Category : business

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