The global demand for taste modulators is increasing as the number of individuals suffering from chronic diseases such as cancer, heart disease, and diabetes rises, encouraging people to adopt healthier eating habits, which will eventually drive the global market for taste modulators. Seven out of ten persons have a chronic disease, and four out of ten adults have two or more chronic diseases, according to the Centers for Disease Control and Prevention.
The Taste Modulators Market is expected to reach US$ 1.6 billion by 2023. It is estimated to reach US$ 3.0 billion by 2033, with a CAGR of 6.3% from 2023 to 2033.
Owing to their capacity to manufacture nutritionally balanced products while keeping flavor quality, taste modulators are becoming increasingly popular among fitness enthusiasts. They are in a range of sports and energy beverages. Another element fueling the rise of the taste modulator industry is their potential to replace salt or sugar, thereby assisting in the regulation of a person’s sugar and salt intake.
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Soft drink consumption, such as flavored sodas and colas, is dropping internationally due to their high sugar, phosphoric acid, artificial coloring, caffeine, and artificial sweetener content, all of which can be harmful to the human body.
As a result, many consumers are switching from fizzy beverages to healthier choices. Several manufacturers are introducing taste modulators into their products to fulfill consumer demand.
Key Takeaways from the Taste Modulators Market
- The taste modulators market is expected to record a CAGR of 6.3% from 2023 to 2033.
- Increasing demand and popularity of the product for enhancing food flavor.
- The taste modulators market is dominated by North America.
- Asia Pacific is the most rapidly rising region.
Key Development in the Taste Modulators Market
- Koninklijke DSM N.V (the Netherlands) announced a merger with Firmenich in June 2022. (Denmark). Firmenich is a leading player in the fragrance and taste industries. This combination will aid the company’s market position in the nutrition, health, and beauty sectors. According to business insiders, the merger should be finalized by 2023.
- The merger with Dupont Nutrition & Biosciences was finalized in February 2022. (United States). The merger of IFF and DuPont creates a global leader in high-value ingredients and solutions for the global food and beverage, home and personal care, and health and wellness industries. On an enterprise value basis, the agreement valued the combined business at USD 45.4 billion. This will enable IFF to expand into new markets and sell its taste-modifier product to a broader range of customers.
- Givaudan said in February 2020 that it has finalized the acquisition of Ungerer & Company, a flavor, fragrance, and specialty Ingredients Company based in the United States. Ungerer has a significant market presence in North America, as well as a well-developed position in all of its areas and a large client base. The acquisition will assist Givaudan in integrating and expanding its product portfolio, allowing it to serve to a newer consumer base with a broader product offering.
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