Global Savory Ingredients Market Report 2023-2028: Urbanization Spurs Popularity of East Asian Cuisines and Savory Ingredients Worldwide

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Nov 08, 2023, 06:15 ET

DUBLIN, Nov. 8, 2023 /PRNewswire/ -- The "Savory Ingredients Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global savory ingredients market size reached US$ 7.0 Billion in 2022. Looking forward, the market is set to reach US$ 9.5 Billion by 2028, exhibiting a growth rate (CAGR) of 5.2% during 2023-2028.

Savory ingredients refer to flavor enhancers that are used to elevate the savory taste and aroma of food products during processing. Starches, yeast extracts, hydrolyzed vegetable proteins (HVP), hydrolyzed animal proteins (HAP), and monosodium glutamate (MSG) are some of the most commonly used savory ingredients across the food and beverages industry.

The market is primarily propelled by the increasing demand for packaged instant food products. This surge can be attributed to shifting dietary preferences, busy lifestyles among the general population, and rising per capita income levels. These factors have led to a widespread preference for convenient food options worldwide.

Furthermore, consumers are increasingly gravitating toward clean label and organic products due to growing awareness of the adverse effects associated with artificial ingredients. This shift in consumer preferences is positively influencing the market. Additionally, numerous key players are making substantial investments in the development of improved product variations with enhanced taste profiles to cater to the diverse preferences of consumers.

Rapid urbanization has also played a significant role, leading to a notable surge in the popularity of East Asian cuisines on a global scale. In these cuisines, savory ingredients play a pivotal role in food preparation.

Several other factors contributing to market growth include favorable regulatory approvals and a rising demand for bakery products among individuals.

Key Questions Answered in This Report:

How has the global savory ingredients market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global savory ingredients market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the form?
What is the breakup of the market based on the application?
What is the breakup of the market based on the source?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global savory ingredients market and who are the key players?
What is the degree of competition in the industry?

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being

Ajinomoto Co. Inc.
AngelYeast Co. Ltd.
Archer-Daniels-Midl
Company
Associated British Foods plc
Cargill Incorporated
Givaudan
Kerry Group plc
Koninklijke DSM N.V.
Novozymes A/S
Sensient Technologies Corporation
Symrise AG and Tate & Lyle PLC.

Key Market Segmentation:

Breakup by Type:

Starches
Proteins
Vegetable Protein
Animal Protein
Yeast
Monosodium Glutamate (MSG)
Others

Breakup by Form:

Powder
Liquid
Paste

Breakup by Application:

Food
Feed

Breakup by Source:

Natural
Vegetable Extracts
Animal Derived
Microbial
Synthetic

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

For more information about this report visit https://www.researchandmarkets.com/r/6aay1e

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SOURCE Research and Markets