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Savory Ingredients Market Size, Share and Industry Analysis By Source (Natural, Synthetic), Product (Yeast Extracts, Monosodium Glutamate, Protein, Nucleotides), Application (Food, Animal Feed), and Regional Forecast 2019-2032
Report Format: PDF | Latest Update: Jul, 2024 | Published Date: May, 2019 | Report ID: FBI100256 | Status : PublishedThe global savory ingredients market size was valued at USD 7.25 billion in 2018 and is projected to reach USD 19.12 billion by the end of 2032, exhibiting a CAGR of 7.34% in the forecast period based on our analysis in the existing report. Asia Pacific dominated the savory ingredients market with a market share of 37.1% in 2018.
The Asia Pacific has acquired a majority of the market share in terms of value in the overall market. An increase in the growth of taste preference is one of the major factors that is helping the savory ingredients market grow.
The savory ingredients are the ingredients that help in enhancing the savory taste of the food products. Savory ingredients are widely used in Japanese and Chinese cuisines. In the past few years, savory ingredients have gained significant acceptance from the HoReCa sector. Bitter, salty, sour, and sweet are the four basic tastes that have been recognized by people for many centuries. It has been assumed that the other tastes that evolved are associated with these four flavors. Umami is a savory taste that was first discovered in Japan. Umami certainly means a pleasant savory taste.
The big players in the market include Ajinomoto Co., Inc., Koninklijke DSM N.V., Kerry Group plc, Tate & Lyle plc, Symrise AG, and Givaudan SA. The increased focus on R&D of technology involved in the production of various new products according to the new taste preferences will help in the growth of the market.
At the same time, any major events such as regulatory approvals, major acquisitions, and other developments in the region will directly influence the savory ingredients market trend positively.
"The Food Processors End-use Segment is Expected to Hold the Largest Share Throughout the Forecast Period"
The food processors end-use segment holds the largest market share in the overall market, this is due to the increased usage of savory ingredients in processed food products. The incorporation of savory ingredients in food products such as savory snacks, which includes a variety of products such as nuts, crisps, extruded snacks, sweets, salty snacks, and others.
Snacks, soups, meat products, and other subsegments are covered under the food processors segment, among which the meat products are expected to hold the largest savory ingredients market revenue. Various types of savory ingredients are used in curated meat products as savory ingredients will help in enhancing the taste.
SAVORY INGREDIENTS MARKET Regional Analysis
"Asia Pacific Region is Expected to Hold the Largest Savory Ingredients Market Share by 2026"
The Asia Pacific is the largest consumer of savory ingredients which is owing to the consumption of savory snacks, curated meat products, and soups. There is robust growth in the consumption of ready-to-eat meals, this is due to the change in lifestyle and fast-paced life. An increase in the consumption of savory snacks and ready-to-eat meals is projected to support the Asia Pacific market growth.
There is an increase in the consumption and production of MSG in the region. This is because of the high consumer taste preference in the region. China consumes a large quantity of MSG, especially in the HoReCa sector.
The Asia Pacific is considered to be an emerging economy in the market which is expected to create opportunities for various other food manufacturers in the region. For instance, increasing consumption of noodles in developing economies such as China, and India due to busy lifestyles, increasing working professionals, and growing young population. The majority of noodle brands incorporate MSG, yeast extract, and starch thus the escalating demand for instant noodles and other such convenience is expected to increase the demand for the aforementioned savory ingredients.
Report Coverage
Savory ingredients are certain flavors that help in providing a pleasant taste and flavor to the food product. Apart from the spicy taste, it’s the savory taste that is being used mostly by food manufacturers. Taste preferences vary from one person to the other and from one particular region to the other. Most of these savory ingredients are used in large quantities in food products such as noodles, snacks, and meat products.
The report provides quantitative and qualitative insights on the savory ingredients industry and a detailed analysis of market size & growth rate (in terms of Value) for all possible segments in the market. The savory ingredients market report is segmented by source, end-use, type, form, and geography.
Based on source, the market is categorized into natural and synthetic. Natural is further sub-segmented as vegetable extracts, animal-derived, and microbial. Based on end-use, the savory ingredients industry is segmented as food processors and food services (HoReCa).
Based on type, the market is segmented as starches, animal protein, vegetable protein, MSG, yeast extracts, and others. By form, the market is segmented as powder, liquid, and paste. Geographically, the global market is segmented into four major regions, which are North America, Europe, Asia Pacific, and the Rest of the World. The regions are further categorized into countries.
Along with this, the report on savory ingredients provides an elaborative analysis of the savory ingredients industry dynamics and competitive landscape. Various key savory ingredients market insights provided in the report are the overview of related markets, recent industry developments such as mergers & acquisitions, new product innovations and launches, the regulatory scenario in key countries, and key industry trends.
Key companies covered in the report
- Ajinomoto Co., Inc.
- Koninklijke DSM N.V.
- Kerry Group PLC
- Tate & Lyle PLC
- Symrise AG
- Givaudan SA
- Sensient Technologies Corporation
- Savoury Systems International LLC
- P. Ingredients Ltd.
- Synergy Flavors
SAVORY INGREDIENTS MARKET Segmentation
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Key Industry Development
- In January 2018, Symrise AG launched clean-label culinary bases to meet the changing consumer demand for cleaner labels.
- In December 2018, Kerry Group acquired Ariake U.S.A., Inc. (engaged in manufacturing of natural seasonings such as natural clean label savory taste solutions) to strengthen the company's food service positioning.
Frequently Asked Questions
How big is the savory ingredients market?
Fortune Business Insights says that the savory ingredients market was valued at USD 7.25 Billion in 2018 and is projected to reach USD 11.94 Billion by 2026.
What was the value of this savory ingredients market in 2018?
In 2018, the market was valued at USD 7.25 Billion and the Asia Pacific region is the leading market in the global market.
At what CAGR is the savory ingredients market projected to grow in the forecast period (2019-2026)?
The market is projected to grow at a CAGR of 6.65% during the forecast period (2019-2026).
Which is the leading end-user in the market?
The food processors end-use segment is expected to hold the largest share in the global market.
Which are the key factors driving the market?
The increase in the growth of the taste preferences and evolving consumer’s food eating patterns are the key factors driving the market.
Who are the active players in the market?
Ajinomoto Co., Inc., Koninklijke DSM N.V., Kerry Group PLC, Tate & Lyle Plc, and Givaudan SA are the key active players in the market.
Which region is expected to hold the highest market share in the market?
The Asia Pacific region is expected to hold the highest market share in the market.
Which factors are expected to drive the adoption of savory ingredients?
The sensorial properties associated with the savory ingredients which help to enhance the savory appeal in the food products are expected to drive the adoption of savory ingredients across the world.
Which sub-segment accounts for major share among by-type segment?
MSG (Monosodium Glutamate) account for major share among by-type segment in the global market.
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