Taste Modulators Market Development, COVID 19 Impact Analysis, Future Business Growth, New Invesment Plans and Forecast to 2024

Market Highlights

Taste modulators are food additives that help in improving the taste of food products while maintaining their nutritional content. They help in formulating and introducing food products with enhanced flavor and increased health benefits. Sweet modulators help in enhancing the sweetness of a food product or beverage while reducing the sugar content. The global taste modulators market is lucrative with players focused on R&D to launch novel products that cater to the changing consumer preferences. For instance, manufacturers of taste modulators have introduced products that help in masking the bitter, licorice-like aftertaste of new stevia-based products. Moreover, ongoing research on positive allosteric modulators (PAM) is expected to result in profitable opportunities for market players as these modulators influence the activity of the primary ligand to which they bind.

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The global taste modulators market has been segmented by type, application, and region.

Based on type, the global taste modulators market has been segmented into sweet modulators, salt modulators, and others. The sweet modulators segment is expected to gain the largest revenue share and register the highest growth rate during the forecast period. Surging global demand for sweet food products and beverages is expected to contribute to the growth of the segment as sweet modulators are healthy food ingredients consumed by health-conscious consumers. Sweet modulators are low-calorie sweeteners that aid in restoring or adding sweetness to food & beverages.

The global taste modulators market has been divided, by application, into dairy and frozen desserts, bakery and confectionery, beverages, snacks and savory products, meat, poultry, and seafood products, and others. The beverages segment is projected to be dominant during the review period due to the surging consumption of alcoholic and non-alcoholic beverages across the globe. Additionally, the increasing demand for natural fruit juices, sports drinks, and fortified low-calorie drinks is fueling the growth of the segment. However, the snacks and savory products segment is expected to exhibit the highest growth rate during the forecast period owing to the increasing demand for convenient snacks and savory products, especially among the working population.

Regional Analysis

The global taste modulators market has been segmented, on the basis of region, into North America, Europe, Asia-Pacific, the rest of the world.

North America is projected to gain market dominance during the forecast period owing to the rising health awareness among consumers. The increasing demand for healthy food products and natural beverages in the region is also boosting the sales of natural taste modulators in North America. However, the market in Asia-Pacific is expected to register the highest growth rate during the forecast period due to the strong market growth in developing countries such as India and China.

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Key Players

Some of the key players in the global taste modulators market are Givaudan (Switzerland), Koninklijke DSM N.V. (Netherlands), Kerry Group plc (Ireland), Sensient Technologies Corporation (US), Ingredion Incorporated (US), Carmi Flavor & Fragrance Co., Inc. (US), Firmenich SA (Switzerland), International Flavors & Fragrances Inc. (US), Symrise (Germany), and The Flavor Factory (US).

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