Global Taste Modulators Market Poised for Significant Growth
by Mit K. SEOThe 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.
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Created on Nov 22nd 2023 03:56. Viewed 64 times.