The global Savory Ingredients Market was worth USD 7.2 billion in 2019, and it is estimated that it will reach a valuation of USD 9.3 billion by 2025 at a CAGR of 5.2% during the foreseen period.
Savory ingredients are the flavors that contains the properties that can change and enhance the flavor of foods. In salty products, such as frozen flavored meals and snacks, Savory flavor is an important ingredient in the manufacturing process. A pleasant aroma and flavor are produced with Savory Ingredients. The use of salty food ingredients improves the overall essence of food, so the market is expected to increase significantly in the future.
Market Drivers and Restraints:
In developed and developing countries, consumer demand for fast-food foods is increasing rapidly due to increased disposable income. As the demand for prepared foods increases, flavor ingredients are used to make prepared foods or ready-to-eat meals, which is expected to accelerate the growth of the global Savory Ingredients market during the forecast period. Consumers have a hard time preparing a meal after intense activity, so they choose time-saving foods to help replenish their lost energy. The market is also being driven by the growing consumer population in developing countries like China and India. Increased consumption of commodities is expected to stimulate demand during the forecast period. Local food products offer solutions to balance work life and stress-related problems by minimizing meal effort and preparation time. Yeast extract is rich in B vitamins, which makes yeast extract widely used as a salty ingredient. Due to the growing demand for yeast extract, the global market for salty ingredients is expected to grow. Spray-dried savory ingredients are expected to be quickly adopted over an intended period of time, as these products improve the taste and taste of cooked food. However, government obligations and concerns related to health and strict regulation hinder the growth of the market. A highly cost-effective and innovative way to produce added flavor as a Savory Ingredients is expected to promote market growth.
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Report is segmented as:
The global market for Savory Ingredients is divided by type, application, origin, shape and region. Depending on the type, the market is divided into hydrolyzed vegetable protein, monosodium glutamate, soybean powder, yeast extract, hydrolyzed animal protein, nucleotides and others. Applications where savory ingredients are used include food and feed. Savory Ingredients have two origins, synthetic and natural. Depending on the shape, the market is divided into powder, liquid, paste, spray, and others.
The Asia Pacific region is expected to be the fastest-growing region in the global Savory Ingredients market after taking the largest market share in 2019. The food processing industry in the Asia Pacific region is experiencing a rapid growth due to increased consumer demand for prepared foods. Developing countries such as China, India and Japan are expected to lead the market for Savory Ingredients during the forecast period due to the larger population and changing consumer lifestyles. Other regions, such as North America and Europe, are expected to post modest growth with healthy CAGR during the outlook period.
Key market players:
Key market players in the Savory Ingredients market include Sensient Technologies Corporation, Angel Yeast Co., Ltd., Diana Group, Tate & Lyle Plc., Givaudan S.A, Vedan International Holdings Ltd and Lesaffre Group.
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Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.
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