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.
Beverages are broadly classified into two categories, namely, alcoholic and non-alcoholic beverages. The non-alcoholic beverages segment was the largest; it includes both carbonated drinks and non-carbonated beverages such as juices, energy drinks, sports drinks, and fortified drinks. Taste modulators are used to alter the taste and support the reduction of calories in drinks (being used in conjunction with sugar substitutes) to meet consumer demand for healthy beverage products.
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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.
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).