Taste Modulators Market - Growth, Trends and Forecast (2020 - 2025)

The global taste modulators market is growing at a CAGR of 8.6% during the forecast period (2019 - 2024).

The prevalence of obesity and diabetes across the globe with about 1.6 billion adults aged 18 and above were obese in 2016 (According to WHO), this is one of the major factors driving the demand for taste modulators in food and beverage industries. This has helped the consumers to meet their flavor requirements without compromising with their health.

The implemented sugar taxes in countries, like Thailand, are driving consumers toward beverages that have less sugar. This, in turn, is driving the demand for sweet modulators in such countries. To cater to the increasing demand for flavored carbonated beverage products among consumers under different demographics, the food and beverage companies are increasingly focusing on making product lines with reduced sugar and sodium content. This is driving the growth of the taste modulator market in the end-user industries.

Key Market Trends

Increasing Demand For Functional Food and Beverage

The progressive inclination of consumers across the globe towards health-oriented products has involved taste modulators in the functional food and beverage industry as a requisite in the list. In addition, the sale promoting tag lines, such as “ready to drink”, “on the go” and other convenience factors, such as reduced sugar or sodium altogether served by functional beverages, further augments the demand for taste modulators primarily for sweet and salt modulators. The taste modulators are increasingly being used in fortified beverages targetting the consumers who are looking for healthy drinks without compromising with the taste and mouthfeel.

Asia Pacific Emerges As The Fastest Growing Market

Increased health consciousness among Asian consumers primarily in China, Japan, Australia, India, and others have led to the demand for food and beverages with various health claims such as reduced calorie, reduced sugar or reduced-sodium. Also, governments in countries like Thailand, Singapore, Australia, India, Hong Kong, and others have imposed heavy sugar taxes to reduce the prevalence of obesity and diabetes among consumers which in turn has resulted in various food and beverage industries to opting for sugar alternatives to meet the demand for flavored/sweetened beverages. Moreover, the rising adoption of sports drinks by fitness-focused consumers, owing to the rise in the importance of pre-workout and post-workout supplements, is expected to drive the market of taste modulators during the forecast period.

Competitive Landscape

Globally, Koninklijke DSM N.V., International Flavors & Fragrances Inc., Kerry Inc., Givaudan, Flavorchem Corporation and others are the most active among all the key players in the global taste modulators market. The players are adopting various strategies such as product innovation and expansion primarily to penetrate in the market. Also, the companies are considerably active in investing in the target segments. Thus, the key players are embarking on mergers and acquisitions as one of their key strategies to achieve consolidation and optimize their offerings. Moreover, these players merge with local players to gain dominance in the local markets.

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