Market Overview:

The global savory ingredients market was valued at USD 7.25 billion in 2018 and is projected to reach USD 19.12 billion by 2032, growing at a CAGR of 7.34% during the forecast period. In 2018, Asia Pacific led the market with a 37.1% share.

The growing utilization of savory ingredients 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 Market Size, Share and Industry Analysis By Source (Natural, Synthetic), Product (Yeast Extracts, Monosodium Glutamate, Protein, Nucleotides), Application (Food, Animal Feed), and Regional Forecast 2029-2032” the market size stood at USD 7.25 billion in 2018.

The Report lists the Main Companies in the Market:

  • 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 in Processed Food to Augment Growth

how savory components are being used more often in processed food products. will, over the projected term, have a favorable effect on the market. In the upcoming years, the market will rise more rapidly due to the fusion of savory components in a number of food products, including savory snacks, nuts, crisps, extruded snacks, sweets, salty snacks, and others. The increasing demand for soups, snacks, and meat-based goods will create new market opportunities in the upcoming years. Market expansion will result from the use of savory ingredients to enhance the flavor of well chosen meat products. Consumer preferences and eating habits are constantly changing, which will help the industry expand.

It is anticipated that the market would grow as a result of food producers’ increased attention on savory ingredients to improve the sensory qualities and flavor of their goods. Furthermore, the increasing collaborations and procurements among major participants will strengthen the sector and thus foster the expansion of the market. For example, the Irish food giant Kerry Group announced in December 2018 that it had acquired Ariake U.S.A., Inc., a food production firm that produces natural seasonings including savory taste solutions with clean labels. Kerry Group will be able to strengthen its market position with the aid of this new development.

Regional Analysis:

Heavy Demand for Ready-to-eat Food Items to Favor Growth in Asia Pacific

Asia Pacific is predicted to witness a 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.

Key Development:

January 2018: Symrise AG, a leader, and producer of flavors and fragrances announced the launch of clean label culinary bases to cater to the demand for clean-label products by consumers.

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