The global savory ingredients market size is predictedto reach USD 11.94 billion by the end of 2026, exhibiting a CAGRof 6.65% during the forecast period. The growing utilization of savoryingredients for sweet, sour, and salty taste in Japanese and Chinese cuisines
will have a tremendous impact on the savory ingredients market growth during
the forecast period. The increasing consumption of food products around the
world will spur opportunities for the market in the forthcoming years, states
Fortune Business Insights in a report, titled “Savory Ingredients MarketSize, Share and Industry Analysis By Source (Natural, Synthetic), Product (Yeast
Extracts, Monosodium Glutamate, Protein, Nucleotides), Application (Food,
Animal Feed), and Regional Forecast 2019-2026” the market sizestood at USD 7.25 billion in 2018.
Worldwide COVID-19 Impact Analysis:
The emergence of COVID-19 hasbrought the world to a standstill. We understand that this health crisis has
brought an unprecedented impact on businesses across industries. However, this
too shall pass. Rising support from governments and several companies can help
in the fight against this highly contagious disease. There are some industries
that are struggling and some are thriving. Overall, almost every sector is
anticipated to be impacted by the pandemic.
We are taking continuous efforts tohelp your business sustain and grow during COVID-19 pandemics. Based on our
experience and expertise, we will offer you an impact analysis of coronavirus
outbreak across industries to help you prepare for the future.
List of Key Companies Operating inthe Savory Ingredients Market are:
- 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
Market Driver:
Rising utilization of Savory inProcessed Food to Augment Growth
The increasing application of savoryingredients in the production of processed food products. Will have a positive
impact on the market during the forecast period. The fusion of savory
ingredients in a variety of food products such as savory snacks nuts, crisps,
extruded snacks, sweets, salty snacks, and others will boost the growth of the
market in the forthcoming years.
The rising consumption of snacks,soups, and meat-based products will spur opportunities for the market in the
forthcoming years. The use of savory ingredients in curated meat products to
enhance the taste will subsequently foster the growth of the market. The
evolving preference and eating habits of consumers will consequently facilitate
the growth of the market.
The rising focus of food manufacturers towards savory ingredients to enhance
the sensorial properties and taste of the food products is expected to aid the
expansion of the market. In addition, the rising partnerships and acquisitions
among key players will consolidate the industry and therefore promote the
growth of the market.
For instance, in December 2018,Kerry Group, a leading food company based in Ireland announced the acquisition
of Ariake U.S.A., Inc. a food production company engaged in manufacturing natural
seasonings such as natural clean labels savory taste solutions. The new
development will help Kerry Group reinforce its position in the market.
Regional Analysis:
Heavy Demand for Ready-to-eatFood Items to Favor Growth in Asia Pacific
Asia Pacific is predicted to witnessa significant growth rate during the forecast period owing to the high
consumption of savory snacks, curated meat products, and soups in the region.
The rising demand for savory snacks and ready-to-eat meals is likely to back
the growth of the market in Asia Pacific. The growing utilization of monosodium
glutamate (MSG) in countries such as China and Japan. China is the world's
largest MSG producer and consumer. The shifting consumer preference will
also influence growth in Asia Pacific. Furthermore, the growing consumption of
noodles in developing economies such as China, India owing to the evolving
lifestyle of people will bolster the healthy growth of the market. The surge in
working professionals has led to the demand for ready-to-eat food items, which
in turn, will encourage the growth of the market.
Browse In-depth Summary of ThisResearch Insight:
