Savory Ingredients Market Global Industry Analysis By Size, Growth, Trends, Leading Company Analysis, Opportunities, Regional, And Key Country Forecast To 2023
Savory Ingredients are used in food & beverages and pet industry for several purposes, such as enhance flavors, aroma, and taste of the products. It provides appealing texture and maintains product quality. These ingredients give a natural aromatic flavor and are mostly used in the production of instant food, meat products, nutritional food, and seasonings. Moreover, these ingredient is cost-effective, due to which many food processing industries is using them as a stabilizer, emulsifier, thickening agent and others in food products which is also expected to fuel Savory Ingredients Market growth.
Increasing health consciousness among the consumers and increase in demand of ready to eat and cook food products is fueling the growth of the global food savory ingredients market.
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There is a growing demand for healthy and nutritious food products, including products with “all-natural” and “clean label” claims. Advancements in technology and improved distribution networks in developing countries have led to substantial growth opportunities for the savory ingredients. Furthermore, increased focus on R&D is fetching innovations in a diverse set of applications in several product categories.
Some of the key players profiled in the global Savory Ingredients market:
- Koninklijke DSM N.V. (Netherlands)
- Ajinomoto Co. Inc. (Japan)
- Kerry Group plc (Ireland)
- Tate & Lyle plc (UK)
- Givaudan S.A. (Switzerland)
- Symrise AG (Germany)
- Sensient Technologies Corporation (U.S.)
- Vedan International (Holdings) Limited (Hong Kong)
- AngelYeast Co. Ltd. (China)
The global savory ingredients market is segmented into type, source, function, and application.
On the basis of type, savory ingredients market is segmented into yeast extract, starch, protein, monosodium glutamate, nucleotides and others. Among all, the monosodium glutamate segment will witness exponential growth rate during the forecast period, as it acts as a thickening and stabilizing agent in food products.
On the basis of source, savory ingredients market is segmented into natural and synthetic. Among all, natural source segment holds the major market share, due to health consciousness among consumers.
On the basis of application, it is segmented into food and feed. Among all, the food segment dominates the market followed by feed industries owning to its high application as a food texture enhancer.
North America will witness maximum growth in the Savory Ingredients Market followed by Europe. In terms of value, the market size of North America will continue to be high with more than half of the market share. The increasing per capita disposable income in India and China and growing demand for ready-to-cook and ready-to-eat food products will drive the demand for savory Ingredients.
Furthermore, changing lifestyle and shifting food consumption pattern in countries like China and India will propel the growth of savory ingredients in the Asia Pacific. High volume consumption of sauces and noodles in Asia Pacific region is expected to grow the fastest in near future.