Global savory ingredients sales reached USD 7.49 billion in 2015. This market is forecast to grow significantly over the forecast period. Convenience foods products are a great way to balance work and stress by reducing the time and effort required to prepare the meals. Over the forecast period, convenience food products will see a rise in demand.
To enhance the taste and aroma of food products, savory ingredients are used. The increasing disposable income and hectic lifestyle is driving increased consumption of ready-to eat and ready to cook products. This is driving the global savory ingredient market to grow. Savory ingredients are also cost-effective, which is why they are used extensively by food manufacturers as thickeners, stabilizers, or emulsifiers in various foods.
The GRAS status granted to MSG, and other flavor enhancers, is expected to increase demand in the food sector. Market growth is expected to be driven by the increasing use of savory ingredients at restaurants and other food service outlets.
The global market for savory ingredients is expected to grow with a rising demand for yeast extract. Yeast extracts, which are natural ingredients made from yeast, can be used to make wine, bread, or beer. Yeast extracts have high levels of vitamin B and amino acids. This is why yeast extracts are often used to enhance flavor.
North America and Europe will be influenced by the "clean label" status of yeast extracts. It is expected that yeast extracts will be in high demand in the food and beverage industry due to rising consumption of natural ingredients and bakery foods.
The industry will benefit from significant investments in developing savory products solutions. Ajinomoto has tailored their product offerings to country-specific tastes. Angel Yeast introduced new flavours and ingredients to the market, and also invested in developing production capabilities in emerging countries such as Russia or the Middle East.
The largest share of monosodium glutamate was in 2015, and it is expected to grow at a high CAGR over the next few years. MSG is used in the seasoning of processed foods such as soups, preserve fish, meats, cooked meals, ketchups, mayonnaises, soy sauces, gravies, and other seafood. The forecast period will see a rise in disposable income, which is expected to complement the market growth for savory ingredients.
In 2015, yeast extracts made up over 4% of global market volume. In 2015, yeast extract accounted for over 4% of the market volume. This is due to its natural flavoring properties. Demand is expected to rise due to the growing demand for healthy food ingredients in the future.
The future market demand will be stimulated by the increasing affordability of food products like soups, sausages, pastas, and curries. In 2015, 66% of revenue was accounted for by the food segment. Market demand will rise due to the increasing lifestyles and rising disposable income in Asia Pacific countries.
Due to the increasing number of affordable brands that cater to this market, the pet food industry is expected to grow at a high CAGR. Pet food savory ingredients will be in demand as people become more aware of the many benefits and conveniences offered by pet food. Hydrolyzed animal proteins will be a popular ingredient in the pet food and animal feed industries over the next few years.
The Asia Pacific savory ingredient market was the largest in the global industry in 2015. It is expected to grow at 6.4% CAGR from 2016 to 2024 in terms of value. This is due to the increasing use of ready-to eat food. China, Japan and India will experience strong growth, followed by South East Asian countries like South Korea, Thailand, Indonesia and Thailand.
In 2024, Europe will be the second largest market. Over the forecast period, market demand will be boosted by increased applications and production capabilities in Europe. Future growth is expected to be boosted by a rising use of savory ingredients in animal feed and pet foods.
To gain an edge on the market, companies have invested huge amounts in R & D activities and innovation centers. Due to the rising popularity of yeast extract in the food industry, large investments have been made by companies in increasing production capacities. Angel Yeast released new umami and kokumi yeast extracts in July 2016. It also offered solutions for sugar and fat reduction.
Some savory ingredient producers also engage in backward integration to ensure continuous supply of raw materials as well as smooth operation of the supply chain. Angel Yeast Co., Ltd, Vedan Inter Holdings Ltd., Sensient Technologies Corporation, Givaudan S.A., Tate & Lyle PLC, Lesaffre Group, Diana Group are some of the key players in this market.
Up Market Research published a new report titled “Savory Ingredients Market research report which is segmented by Application (Pet Food, Food), by Monosodium Glutamate (MSG), by Hydrolyzed Animal Proteins (HAP), by Product (Yeast ExtractsHydrolyzed Vegetable Proteins (Hydrolyzed Vegetable Proteins HVP, Yeast Extracts), By Players/Companies Diana Group, Vedan International Holdings Ltd, Lesaffre Group, Givaudan SA, Tate & Lyle PLC, Ltd, Sensient Technologies Corporation, Angel Yeast Co”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Savory Ingredients Market Research Report |
By Application | Pet Food, Food |
By Monosodium Glutamate | MSG |
By Hydrolyzed Animal Proteins | HAP |
By Product (Yeast ExtractsHydrolyzed Vegetable Proteins | Hydrolyzed Vegetable Proteins HVP, Yeast Extracts |
By Companies | Diana Group, Vedan International Holdings Ltd, Lesaffre Group, Givaudan SA, Tate & Lyle PLC, Ltd, Sensient Technologies Corporation, Angel Yeast Co |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 248 |
Number of Tables & Figures | 174 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Application (Pet Food, Food), by Monosodium Glutamate (MSG), by Hydrolyzed Animal Proteins (HAP), by Product (Yeast ExtractsHydrolyzed Vegetable Proteins (Hydrolyzed Vegetable Proteins HVP, Yeast Extracts).
Savory Ingredients Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Savory Ingredients Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
How you may use our products:
Reasons to Purchase the Savory Ingredients Market Report:
Some other reports from this category!