Flavor Modulator Market Snapshot (2022 to 2032)

The global flavor modulator market size is expected to reach US$ 1,758.7 Million in 2032. The flavor modulator market is growing rapidly.

As per FMI Analysts, the global Flavor modulator market is estimated to be valued at US$ 1593.16 Million in 2022 and is projected to increase at a CAGR of 10.1% in the forecast period from 2022 to 2032.

Report Attribute Details
Flavor Modulator Market Estimated Base Year Value (2021) US$ 1447.01 Million
Flavor Modulator Market Expected Market Value (2022) US$ 1593.16 Million
Flavor Modulator Market Anticipated Forecast Value (2032) US$ 1,758.7 Million
Flavor Modulator Market Projected Growth Rate (2022 to 2032) 10.1% CAGR

Various flavor modulators are key components in the food industry to alter the flavor of the finished product. With an increasing population and a growing demand for sugar- and fat-free foods, the demand for flavor modulators is growing.

A few animal feed manufacturers are now using flavor modulators to alter the flavor of their products, resulting in strong market demand for flavor modulators. Medicated sweets such as hard candy and lozenges are widely used throughout the world for minor throat irritations, colds, and coughs. Medicated confectionery's limited range of products will create an opportunity for manufacturers of flavor modulators.

As more and more people are quitting smoking, they opt for throat lozenges and breath fresheners. This trend will boost the market for flavor modulators in the medicated segment dramatically in the coming years. Moreover, understanding customer needs and offering products with specific features should be major goals for new market participants.

Companies should also focus on developing consumable products that combine health benefits and increase customer loyalty in the global flavor modulators market. Moreover, understanding customer needs and delivering products in accordance with those needs will be the main focus area for new manufacturers entering the market.

Market revenue in North America comprised a large market share of the global flavor modulators market in 2020, while revenue in Europe accounted for the second-largest share. Energy drinks and sports drinks are more commonly consumed in the countries of North America and Europe, which is expected to boost the flavor modulator market growth in both regions.

In response to health concerns regarding sweet-modulating products, companies, and other regulatory bodies have conducted research and confirmed that flavor-modulating products are safe. In the next five to ten years, Asia Pacific is projected to register a noteworthy growth rate in the global flavor modulator market.

Despite the growing interest in sugar reduction, companies have continued to focus on clean-label formulas such as stevia and monk fruit. In 2016, over 16% of global soft drinks launched used no added sugar, low sugar, or sugar-free products.

As of December 2018, Kerry Group Plc announced that it has agreed to acquire Ariake USA, which is Ariake Japan Co's North American business, and Southeastern Mills (SEM) North American coating and seasoning business. With these acquisitions, Kerry will enhance its foundational technology portfolio and also strengthen its position in the food service market, which is in line with its strategic growth objectives.

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What are the Various Factors Driving the Flavor Modulator Market?

The flavor modulator market has received a lot of traction in the industry.

In the food industry, flavor modulators change the taste of products. The increasing population, along with the desire for low-sugar and low-fat content foods, has boosted the demand for flavor modulators.

In addition to the food and beverage market, there is substantial demand for flavor modulators in the pharmaceutical market, too, because some medicines have a bitter flavor. To change the flavor of those medicines, flavor modulators are used in some tablets and cough syrups, which thus attracts younger consumers and results in an increase in flavor modulator market sales.

In recent years, the number of anti-smokers has increased, resulting in an increased demand for throat lozenges and breath fresheners, thus assisting the flavor modulators market in the medicated segment to significantly grow in the future. Furthermore, manufacturers seeking to enter the flavor modulators market should focus on understanding the needs of their customers, along with offering products accordingly with specified functionality.

Further, manufacturers should develop consumable products that are associated with several health benefits in order to capitalize on the increasing health-consciousness among the customer base in the global flavor modulators market. Understanding customer needs and developing products appropriately, with specific characteristics, would be the key focus area for new players entering the market.

Some animal feed manufacturers are now using flavor modulators as a way of altering the flavor of animal feed, increasing the market demand for flavor modulators. Medicated confections, such as hard candies and lozenges, are widely used to provide relief from minor throat irritation, colds, and other conditions because they have a better flavor. In the coming years, manufacturers of flavor modulators are expected to benefit from the limited product range of medicated confectionery.

What is Regional Analysis of Flavor Modulator Market Share?

Market revenues from North America have accounted for the largest revenue share in the global flavor modulator market in 2020, and market revenues from Europe have accounted for the second-largest revenue share. There is more consumption of energy drinks and sports drinks in countries in North America and Europe, which is expected to boost the flavor modulators market growth in both regions.

Companies and regulatory agencies are concerned about the health effects of flavor modulator products, prompting them to conduct research and confirm that flavor modulator products are safe to consume.

The Asia Pacific market is slated to register significantly high growth rates in the global flavor modulators market during the forecast period. Twenty percent of recent stevia-containing launches were soft drinks. The food segment is also expected to grow significantly in revenues over the forecast period.

It is estimated that North America will hold the largest market share through 2023 due to increasing consumer demand for flavor modulators and the adoption of low-fat and low-calorie products. The changing consumer demand has fostered the development of various flavor modulators such as sweeteners, salts, and fats by industry players.

Manufacturers in the USA are developing enhanced methods of creating flavor modulators for their products so that they can meet the demand for food products with a range of flavors and nutritional benefits, showcasing growth in demand for flavor modulators in the regional market.

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What is the Competition Landscape in the Flavor Modulator Market?

Some of the leading companies operating in the global flavor modulator market include Koninklijke DSM N.V., Kerry Group plc, Ingredion Incorporated, Symrise AG, Sensient Technologies Corporation, Givaudan S.A., Firmenich S.A., International Flavors & Fragrances Inc., Carmi Flavor and Fragrance Co., and Fragrance Co. Inc, and Guangdong Zhaoqing Flavor Factory Co., Ltd.

Regulatory authorities and companies have been investigating the health effects of flavor modulator products due to concerns about their safety. In 2016, the global soft drinks market launched 16 percent of products with no added sugar, low sugar, or sugar-free formulations. While sugar reduction continues to receive attention, clean-label formulations, such as stevia, have also grown in popularity.

In recent launches, 20% of new products included stevia, while the food application segment is expected to have a significantly higher revenue growth rate than the soft drinks segment.

Southeastern Mills' North American coatings and seasonings business (SEM) and Ariake USA, which is Ariake Japan Co's North American business, was acquired by Kerry Group in December 2018. As a result of these acquisitions, Kerry's foundational technology portfolio will benefit, and its food service offering will strengthen, in line with the strategic growth objectives of the global flavor modulator market.

Report Scope

Report Attribute Details
Growth Rate CAGR of 10.1% from 2022 to 2032
Base Year for Estimation 2021
Historical Data 2015 to 2021
Forecast Period 2022 to 2032
Quantitative Units Revenue in USD Billion, Volume in Kilotons, and CAGR from 2022 to 2032
Report Coverage Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Segments Covered
  • Application
  • Form
  • Type
  • Distribution Channels
Regions Covered
  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa
Key Countries Profiled
  • USA
  • Canada
  • Brazil
  • Mexico
  • Germany
  • United Kingdom
  • France
  • Spain
  • Italy
  • Russia
  • Poland
  • Australia
  • New Zealand
  • China
  • India
  • Japan
  • South Korea
  • Thailand
  • Malaysia
  • Vietnam
  • Indonesia
  • GCC Countries
  • Turkey
  • South Africa
  • North Africa
Key Companies Profiled
  • Koninklijke DSM N.V.
  • Kerry Group plc
  • Ingredion Incorporated
  • Symrise AG
  • Sensient Technologies Corporation
  • Givaudan SA
  • Firmenich S.A.
  • International Flavors & Fragrances Inc.
  • Carmi Flavor and Fragrance Co. and Fragrance Co. Inc
  • Guangdong Zhaoqing Flavor Factory Co., Ltd.
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Key Segments Profiled in the Flavor Modulator Market

By Application:

  • Beverages
  • Alcoholic beverages
  • Non-alcoholic beverages
  • Pharmaceutical
  • Chocolate and Confectionary
  • Dairy
  • Instant Soups and Sauces
  • Bakery
  • Animal Feed
  • Dietary supplements
  • Others

By Form:

  • Powder
  • Granules
  • Liquid
  • Others

By Type:

  • Salt flavor modulator
  • Sweet flavor modulator
  • Fat flavor modulator
  • Others

By Distribution Channels:

  • B2B
  • B2C
  • Store-Based Retailing
  • Grocery Retailers
  • Modern Grocery Retailers
  • Convenience Stores
  • Discounters
  • Traditional Grocery Retailers
  • Independent Small Grocers
  • Other Grocery Retailers
  • Non-grocery Retailers
  • Mixed Retailers
  • Medical retailers
  • Other Non-grocery Retailers
  • Online Retailing

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa

Frequently Asked Questions

At what rate will the Flavor Modulator Market Grow?

The global flavor modulator market is set to exceed US$ 1,758.7 Million in 2032.

Which region is set to lead the Flavor Modulator Market?

The USA is projected to lead the flavor modulator market in the forecast period.

Which are some of the renowned companies in the Flavor Modulator Market?

PepTech Corporation, Anaspec, Inc, Iris Biotech GmbH, and others are some of the renowned companies in the flavor modulator market.

Table of Content

1. Global Market Executive Summary| Flavor Modulator Market

    1.1. Global Market Overview

    1.2. Demand Side Trends

    1.3. Supply Side Trends

    1.4. Fact.MR Analysis and Recommendations

2. Global Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Introduction and Definition

3. Market Risks and Trends Assessment 

    3.1. Risk Assessment 

        3.1.1. COVID-19 Crisis and Impact on Flavor Modulator

        3.1.2. COVID-19 Crisis and Impact on Aprotic Solvent Prices

        3.1.3. COVID-19 Impact Benchmark with Previous Crisis

            3.1.3.1. Change in Demand

            3.1.3.2. Before and After COVID-19 Crisis (Projected)

            3.1.3.3. Before and After Sub-prime Crisis – 2008 (Actual)

            3.1.3.4. Change in Demand post Recovery Period (After Each Crisis)

        3.1.4. Impact on Market and Value (US$ Million)

            3.1.4.1. Likely Loss of Value in 2020

            3.1.4.2. Mid-term and Long-Term Forecast

            3.1.4.3. Quarter-by-Quarter Demand and Recovery Assessment

        3.1.5. Anticipated Demand and Value Recovery Curve

            3.1.5.1. Likelihood of U-Shape Recovery

            3.1.5.2. Likelihood of L-Shape Recovery

        3.1.6. Recovery Period Assessment by Key Countries

        3.1.7. Recovery Assessment by Key Market Segments

        3.1.8. Action Points and Recommendations for Suppliers

        3.1.9. Impact on Trade Balance

    3.2. Key Trends Impacting the Market

    3.3. Formulation and Application Development Trends

4. Market Background and foundation Data Points

    4.1. Need of the Hour for Industries

    4.2. Industry Wise Industry 4.0

    4.3. Strategic Priorities

    4.4. Life Cycle Stage

    4.5. Importance of Technology

    4.6. Use Cases of Flavor Modulator

    4.7. Forecast Factors: Relevance and Impact

    4.8. Investment Feasibility Matrix

    4.9. PESTLE Analysis

    4.10. Porter’s Five Forces Analysis

    4.11. Market Dynamics

        4.11.1. Drivers

        4.11.2. Restraints

        4.11.3. Opportunity Analysis

        4.11.4. Trend

5. Global Market Demand (US$ Million) Analysis 2017 to 2021 and Forecast, 2022 to 2032

    5.1. Historical Market Value (US$ Million) Analysis, 2017 to 2021

    5.2. Current and Future Market Value (US$ Million) Projections, 2022 to 2032

        5.2.1. Y-o-Y Growth Trend Analysis

        5.2.2. Absolute $ Opportunity Analysis

6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Application

    6.1. Introduction / Key Findings

    6.2. Historical Market Value (US$ Million) Analysis By Application, 2017 to 2021

    6.3. Current and Future Market Value (US$ Million) Analysis and Forecast By Application, 2022 to 2032

        6.3.1. Beverages

        6.3.2. Alcoholic Beverages

        6.3.3. Non-alcoholic Beverages

        6.3.4. Pharmaceutical

        6.3.5. Chocolate and Confectionary

        6.3.6. Dairy

        6.3.7. Instant Soups and Sauces

        6.3.8. Bakery

        6.3.9. Animal Feed

        6.3.10. Dietary Supplements

        6.3.11. Others

    6.4. Market Attractiveness Analysis By Application

7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Type

    7.1. Introduction / Key Findings

    7.2. Historical Market Value (US$ Million) Analysis By Type, 2017 to 2021

    7.3. Current and Future Market Value (US$ Million) Analysis and Forecast By Type, 2022 to 2032

        7.3.1. Salt flavor modulator

        7.3.2. Sweet flavor modulator

        7.3.3. Fat flavor modulator

        7.3.4. Others Toluene

    7.4. Market Attractiveness Analysis By Type

8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by End Use

    8.1. Introduction / Key Findings

    8.2. Historical Market Value (US$ Million) Analysis By End Use, 2017 to 2021

    8.3. Current and Future Market Value (US$ Million) Analysis and Forecast By End Use, 2022 to 2032

        8.3.1. B2B

        8.3.2. B2C

        8.3.3. Store-Based Retailing

        8.3.4. Grocery Retailers

        8.3.5. Modern Grocery Retailers

        8.3.6. Convenience Stores

        8.3.7. Discounters

        8.3.8. Traditional Grocery Retailers

        8.3.9. Independent Small Grocers

        8.3.10. Other Grocery Retailers

        8.3.11. Non-grocery Retailers

        8.3.12. Mixed Retailers

        8.3.13. Medical retailers

        8.3.14. Other Non-grocery Retailers

        8.3.15. Online Retailing Pharmaceuticals

    8.4. Market Attractiveness Analysis By End Use

9. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Region

    9.1. Introduction / Key Findings

    9.2. Historical Market Value (US$ Million) Analysis By Region, 2017 to 2021

    9.3. Current and Future Market Value (US$ Million) Analysis and Forecast By Region, 2022 to 2032

        9.3.1. North America

        9.3.2. Latin America

        9.3.3. Europe

        9.3.4. East Asia 

        9.3.5. South Asia & Oceania

        9.3.6. Middle East and Africa (MEA)

    9.4. Market Attractiveness Analysis By Region

10. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032

    10.1. Introduction / Key Findings

    10.2. Historical Market Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021

    10.3. Market Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2032

        10.3.1. By Country

            10.3.1.1.USA

            10.3.1.2. Canada

        10.3.2. By Application

        10.3.3. By Type

    10.4. Market Attractiveness Analysis

        10.4.1. By Country

        10.4.2. By Application

        10.4.3. By Type

11. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032

    11.1. Introduction / Key Findings

    11.2. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021

    11.3. Current and Future Market Value (US$ Million) Analysis and Forecast By Region, 2022 to 2032

        11.3.1. By Country

            11.3.1.1. Brazil

            11.3.1.2. Mexico

            11.3.1.3. Rest of Latin America

        11.3.2. By Application

        11.3.3. By Type

        11.3.4. By End Use

    11.4. Market Attractiveness Analysis

        11.4.1. By Country

        11.4.2. By Application

        11.4.3. By Type

        11.4.4. By End Use

12. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032

    12.1. Introduction / Key Findings

    12.2. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021

    12.3. Current and Future Market Value (US$ Million) Analysis and Forecast By Region, 2022 to 2032

        12.3.1. By Country

            12.3.1.1. Germany

            12.3.1.2. France

            12.3.1.3. Italy

            12.3.1.4. Spain

            12.3.1.5. United Kingdom

            12.3.1.6. BENELUX

            12.3.1.7. Russia

            12.3.1.8. Rest of Europe

        12.3.2. By Application

        12.3.3. By Type

        12.3.4. By End Use

    12.4. Market Attractiveness Analysis

        12.4.1. By Country

        12.4.2. By Application

        12.4.3. By Type

        12.4.4. By End Use

13. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032

    13.1. Introduction / Key Findings

    13.2. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021

    13.3. Current and Future Market Value (US$ Million) Analysis and Forecast By Region, 2022 to 2032

        13.3.1. By Country

            13.3.1.1. China

            13.3.1.2. Japan

            13.3.1.3. South Korea

        13.3.2. By Application

        13.3.3. By Type

        13.3.4. By End Use

    13.4. Market Attractiveness Analysis

        13.4.1. By Country

        13.4.2. By Application

        13.4.3. By Type

        13.4.4. By End Use

14. South Asia & Oceania Market Analysis 2017 to 2021 and Forecast 2022 to 2032

    14.1. Introduction / Key Findings

    14.2. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021

    14.3. Current and Future Market Value (US$ Million) Analysis and Forecast By Region, 2022 to 2032

        14.3.1. By Country

            14.3.1.1. India

            14.3.1.2. Thailand

            14.3.1.3. Malaysia

            14.3.1.4. Singapore

            14.3.1.5. Vietnam

            14.3.1.6. Australia and New Zealand

            14.3.1.7. Rest of South Asia & Oceania

        14.3.2. By Application

        14.3.3. By Type

        14.3.4. By End Use

    14.4. Market Attractiveness Analysis

        14.4.1. By Country

        14.4.2. By Application

        14.4.3. By Type

        14.4.4. By End Use

15. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032

    15.1. Introduction / Key Findings

    15.2. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021

    15.3. Current and Future Market Value (US$ Million) Analysis and Forecast By Region, 2022 to 2032

        15.3.1. By Country

            15.3.1.1. GCC Countries

            15.3.1.2. South Africa

            15.3.1.3. Israel

            15.3.1.4. Rest of Middle East and Africa (MEA)

        15.3.2. By Application

        15.3.3. By Type

        15.3.4. By End Use

    15.4. Market Attractiveness Analysis

        15.4.1. By Country

        15.4.2. By Application

        15.4.3. By Type

        15.4.4. By End Use

16. Market Structure Analysis

    16.1. Market Analysis by Tier of Companies

    16.2. Market Concentration

    16.3. Market Share Analysis of Top Players

    16.4. Market Presence Analysis

17. Competition Analysis

    17.1. Competition Dashboard

    17.2. Competition Benchmarking

    17.3. Competition Deep Dive

    17.4. Koninklijke DSM N.V.

        17.4.1. Company Overview

        17.4.2. Application Overview

        17.4.3. SWOT Analysis

        17.4.4. Key Developments

    17.5. Kerry Group plc

        17.5.1. Company Overview

        17.5.2. Application Overview

        17.5.3. SWOT Analysis

        17.5.4. Key Developments

    17.6. Ingredion Incorporated

        17.6.1. Company Overview

        17.6.2. Application Overview

        17.6.3. SWOT Analysis

        17.6.4. Key Developments

    17.7. Symrise AG

        17.7.1. Company Overview

        17.7.2. Application Overview

        17.7.3. SWOT Analysis

        17.7.4. Key Developments

    17.8. Sensient Technologies Corporation

        17.8.1. Company Overview

        17.8.2. Application Overview

        17.8.3. SWOT Analysis

        17.8.4. Key Developments

    17.9. Givaudan SA

        17.9.1. Company Overview

        17.9.2. Application Overview

        17.9.3. SWOT Analysis

        17.9.4. Key Developments

    17.10. Firmenich S.A.

        17.10.1. Company Overview

        17.10.2. Application Overview

        17.10.3. SWOT Analysis

        17.10.4. Key Developments

    17.11. International Flavors & Fragrances Inc.

        17.11.1. Company Overview

        17.11.2. Application Overview

        17.11.3. SWOT Analysis

        17.11.4. Key Developments

    17.12. Carmi Flavor and Fragrance Co. and Fragrance Co. Inc

        17.12.1. Company Overview

        17.12.2. Application Overview

        17.12.3. SWOT Analysis

        17.12.4. Key Developments

    17.13. Guangdong Zhaoqing Flavor Factory Co., Ltd.

        17.13.1. Company Overview

        17.13.2. Application Overview

        17.13.3. SWOT Analysis

        17.13.4. Key Developments

18. Assumptions And Acronyms Used

19. Research Methodology

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