Taste Modulators Market is expected to reach $1,758.7 Million by 2023


Posted October 8, 2018 by kmitalee

Increased consumer demand for reduced-calorie products while retaining the original taste of sugar and the growing awareness among consumers about the ill-effects of excessive salt intake act as factors driving the market growth.

 
The report "Taste Modulators Market by Type (Sweet Modulators, Salt Modulators, and Fat Modulators), Application (Confectionery Products, Bakery Products, Dairy Products, Snacks & Savory Products, and Meat Products), and Region - Global Forecast to 2023", 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.

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The global taste modulators industry is growing significantly owing to the rising consumer demand for reduced-calorie products while also retaining the original taste of sugar and the growing awareness among consumers about the ill-effects of excessive salt intake. Most health-conscious consumers prefer sugar substitutes because these contain fewer calories than regular sugar. The consumption of sugar substitutes is an easy way to reduce calorie intake and stay healthy, which makes consumers search for alternatives to regular sugar. The prevalence of diabetes and obesity has been increasing globally. Sugar-sweetened soft drinks are a major source of excess calories and glycemic load in the diet. Obesity elevates the risk of numerous diseases such as Type 2 diabetes. Thus, the market for sugar substitutes will be driven by the demand for low-calorie foods, which, in turn, drives the taste modulators market growth.

The taste modulators market has been segmented on the basis of type into sweet modulators, salt modulators, and fat modulators. The sweet modulators segment is projected to grow at a high CAGR from 2018 to 2023. Food & beverage manufacturers use sweet modulators to meet the growing consumer demand for healthy food products in the global market. With the changing consumer taste and preference for various food products, manufacturers focus on offering food & beverage products with nutrients and reduced calories, such as protein bars and sports drinks, to meet the consumer demand for healthy food products.

Based on application, the taste modulators market has been segmented into food and beverages. The beverages segment is projected to grow at a higher CAGR from 2018 to 2023. The scope of beverages is broadly classified into two categories, namely, alcoholic and non-alcoholic beverages. The non-alcoholic beverages subsegment is the largest in the beverages segment. It includes carbonated drinks and non-carbonated beverages such as juices, energy drinks, sports drinks, and fortified drinks. The consumption of fortified drinks and fruit juices has increased among consumers in North America due to changing lifestyles and more focus on health concerns & physical wellbeing. As non-alcoholic beverages provide nutritional benefits, the segment is expected to contribute to an increase in the consumption of taste modulators.

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In terms of value, Asia Pacific is projected to be the fastest-growing region in the taste modulators market. China and India have witnessed major growth in the taste modulators market, acquiring significant shares in the region. With its growing demand for taste modulators and the rising health awareness due to an increase in the number of people suffering from diabetes and obesity, India is expected to be a crucial market for taste modulators among manufacturers in the food & beverage industry.

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Issued By MarketsandMarkets™ INC.
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Categories Food
Tags taste modulators , taste modulators market , taste modulators market report , taste modulators market research
Last Updated October 8, 2018