Major taste modulator producers are focusing on research and development activities for products with natural flavor profiles and lower calorie levels.
DUBAI, UAE / ACCESSWIRE / May 6, 2020 / The expanding trend wave of health & wellness, and regulatory measures associated with salt reduction ingredients continue to primarily assist the growth of taste modulators market. According to a new study by Future Market Insights (FMI), the market for taste modulators is largely influenced by developments in the food and beverage industry, particularly driven by evolving consumer trends. The global taste modulators market will reach the value pool of US$ 1.9 Bn by the end of the forecast period in 2030.
"Rising consumption of low-fat, low-calorie foods and incidences of lifestyle-based diseases have resulted in greater demand for taste modulators. Product innovations will be the key to meet ever-changing consumer requirements, supporting market growth," reveals the FMI report.
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Key Research Findings
- Sweet modulators will account for a leading market share; salt modulators will exhibit a higher CAGR during 2020-2030.
- Beverages sector remains the key application area.
- Growth of the global taste modulators market will remain largely concentrated in North America.
- The Asia Pacific market will display highly lucrative opportunities, driven by population growth and higher meat consumption.
Key Growth Drivers
- Demand for low-calorie foods by a rising number of health-conscious consumers plays a major role in the growth of the market.
- Growing incidences of lifestyle diseases such as obesity and diabetes is a key demand influencer.
- Higher levels of competitiveness among key players is a major factor contributing to market growth.
- The rising popularity of products such as sports drinks, and demand for pre and post workout supplements will drive adoption.
Key Impediments
- Taste modulators are incapable of changing the original flavor profile of food and beverage, items, which is a key restraint in widespread adoption.
- The current COVID-19 pandemic is causing major alterations in supply chains of the processed food sector. The economic turmoil is ultimately leading to declining consumption of taste modulators.
The COVID-19 Impact
Following the rise of the coronavirus outbreak, the consumption patterns of processed foods around the world has changed. Social distancing measures has made major changes to consumer behavior, as people are less likely to visit retail stores. Consequently, balanced, plant-based snacks are gaining traction. Further, the industry is hampered due to the lockdowns implemented by government bodies.
While the global pandemic is restricting growth, government aid for industries in the food supply chain can help to sustain the market through the crisis. However, investors are likely to be hesitant towards pooling in resources, until there is a definitive improvement in the situation.
Explore the complete taste modulators market report with 88 illustrative figures, 96 data tables, and the table of contents. Also find a detailed market segmentation on https://www.futuremarketinsights.com/askus/rep-gb-11261
Competition Structure Analysis - Taste Modulators Market
The competition landscape of taste modulators market remains largely fragmented. Key players are investing regional expansion activities. Collaborations, mergers, and acquisitions will also remain major strategies. The presence of manufacturers in Asia will grow substantially during the forecast period.
Some of the key players in the taste modulators market include, but are not limited to Senomyx Inc., Kerry Group Plc, Flavorchem Corporation, Koninklijke DSM N.V., Carmi Flavor and Fragrance Co. Inc., Ingredion Incorporated, The Flavor Factory, Symrise AG, International Flavors and Fragrances, Firmenich SA, and Sensient Technologies.
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About the Report
This report offers global, regional, and national level analysis on the latest trends in the industry influencing the taste modulators market. The study provides actionable insights on the taste modulators market on the basis of type (sweet modulators, salt modulators, and fat modulators), and application (dairy products, bakery products, confectionary products, meat products, snacks, and savory) across 30 countries spanning seven key regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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SOURCE: Future Market Insights