USD 1.39 billion
Report ID:
SQMIG30I2182 |
Region:
Global |
Published Date: July, 2024
Pages:
198
|Tables:
65
|Figures:
75
Taste Modulator Market size was valued at USD 1.49 Billion in 2023 and is poised to grow from USD 1.6 Billion in 2024 to USD 2.81 Billion by 2032, growing at a CAGR of 7.30% during the forecast period (2025-2032).
Taste modulators are rising in popularity due to their demand in the food & beverage industry. They are utilized to enhance and restore taste of food while reducing salt, calorie, and fat content of the food product. Consumer demand to reduce calorie, salt, and sugar intake while retaining the original taste of food is boosting its demand in the global market.
Growing concerns among consumers about harmful effects of consuming fat, sugar, and salt is driving the demand for food modulators. Food manufacturers are adopting these products to cater these shifts in needs.
The reduction in calories impacts the mouthfeel and also affects the aroma and taste of the product. That’s why taste modulators are used in food products to reduce fat, sugar, or salt content of the product and retain or mask the same taste of the product. Increasing awareness regarding excessive salt intake and enhanced flavor masking benefits of taste modulators have increased demand for teste modulators in the global market.
US Taste Modulator Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 1.39 billion
Largest Segment
Sweet Modulators
Fastest Growth
Sweet Modulators
Growth Rate
7.30% CAGR
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Global Taste Modulator Market is segmented based on the type, application, and region. Based on the type, the market is segmented into sweet modulators, salt modulators, and fat modulators. Based on application, the market is segmented into confectionery products, bakery products, dairy products, snacks & savory products, and meat products. Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Analysis by Type
The sweet modulators segment dominated the global market in 2021. The market is expected to continue dominating during the forecast period. The demand for sweet modulators has been increased due to the increasing awareness among consumers regarding various chronic diseases such as obesity and diabetes.
Analysis by Application
Beverages segment dominates the market in terms of application in 2021 mainly due to the increasing health consciousness among the consumers. Huge consumption of non-alcoholic beverages like sports drinks, energy drinks etc., and growing demand for low calories and low sugar-based drinks, will boost growth of teste modulators.
Confectionary products are expected to be the fastest growing segment during the forecast period due to increasing demand for balancing sweet intake in confectionary products. It also balances the taste of sweetness and sourness, thus influencing market growth.
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North America dominated the global market in terms of revenue and share during 2021 and is expected to remain the same during the forecast period. This is largely due to increasing demand for processed food products. Higher consumer demand for healthier products and higher consumption of low-fat and low-calorie foods will drive the market in this region.
Asia Pacific will be the fastest growing region during the forecast period, due to lucrative opportunities in the region. This region is witnessing an increasing number of obesity and diabetes cases each year, thus creating demand for taste modulators in the coming years. Increasing disposable income in the region is further creating lucrative opportunities in the region.
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Drivers
Increasing Consumption of Low-Calorie to Bolster Market Growth
Restraints
Stringent Government Regulations to Hinder Market Growth
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Taste modulators market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Top Player's Company Profiles
Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global taste modulators market analysis, vegan culture, health consciousness, holistic lifestyle and social media influence are some of the trends that will shape the future of the market. Players in the market can highly benefit from collaborations and marketing strategies.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 1.49 Billion |
Market size value in 2032 | USD 2.81 Billion |
Growth Rate | 7.30% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Taste Modulator Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Taste Modulator Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Taste Modulator Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Taste Modulator Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG30I2182
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