The savory ingredients market is projected to grow at a CAGR of5.2%
NEW YORK, May 11, 2020 /PRNewswire/ -- The savory ingredients market is projected to grow at a CAGR of 5.2%.
Tthe global savory ingredients market is estimated to be valued at USD 7.2 billion in 2020 and is projected to reach USD 9.3 billion by 2025, recording a CAGR of 5.2%. Factors such as the growing demand for savory-flavored ready-to-eat snacks and canned food across the globe drive the growth of the savory ingredients market during the forecast period.
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• By origin, the synthetic segment accounted for a larger share in 2019.
The synthetic segment accounted for a major share of the global savory ingredients market, on the basis of origin, in 2019.Synthetic flavor enhancers are those produced through chemical processes; they are comparatively low-priced because they are easy to avail and produce.
In the synthetic savory ingredients market, monosodium glutamate, commonly known as MSG, is the most widely synthesized ingredient. It finds applications in savory foods, soups, sauces, and other processed products.
• By form, the powder segment is estimated to account for the largest share.
Based on form, the savory ingredients market is segmented into powder, liquid, and other forms.The powdered form is estimated to account for the largest share because of its high usage in the food industry.
Powdered savory ingredients are widely used in sugary powders, dried cheese powders, sauce powders, savory spice mixes, and soy sauce powder, which are made from fermented beans and roasted ground wheat. Dry powder ingredients are mainly used in confectioneries, bakery products, dressings, and snacks.
Asia Pacific accounted for the largest share in the savory ingredients market due to the wider acceptability and usage of savory ingredients in Asian cuisines.
The Asia Pacific region remains a focus area for savory ingredients as consumer awareness is limited, and regulations are not standardized.Growth in the demand can be seen for savory ingredients used in processed food due to the increasingly busy lifestyles of consumers and their preference for ready-to-eat products.
China remains the dominating country in the Asia Pacific region. Major food companies such as Givaudan (Switzerland), Kerry Group PLC (Ireland), and Symrise (Germany) are investing in expanding their presence in China and India
The global savory ingredients market is segmented region-wise, with a detailed analysis of each region. These regions include North America, Europe, Asia Pacific, South America, and RoW (the Middle East and Africa).
Break-up of Primaries
• By Company Type: Tier 1 -45%, Tier 2 -30%, and Tier 3 -25%
• By Designation: C-level - 25%, D-level -40%, and Others*-35%
• By Region: Asia Pacific - 55%, Europe - 20%, North America - 15%, and RoW**- 10%
*Others include sales managers, marketing managers, and product managers.
**RoW includes the Middle East and Africa.
Leading players profiled in this report include the following:
• Ajinomoto Co., Inc. (Japan)
• Koninklijke DSM N.V. (Netherlands)
• Kerry Group PLC (Ireland)
• Tate & Lyle PLC (UK)
• AngelYeast Co., Ltd. (China)
• Cargill (US)
• Sensient Technologies Corporation (US)
• ABF Ingredients (OHLY) (Germany)
• Vinayak Ingredients India Pvt Ltd. (India)
• Vedan International (Holdings) Limited (Hong Kong)
• Givaudan (Switzerland)
• Lesaffre Group (France)
• ADM (US)
• Symrise (Germany)
• Synergy Flavors (US)
• Halcyon Proteins Pvy. Ltd. (Australia)
• Novozymes (Denmark)
• Food Chem International (China)
• The Fufeng Group (China)
• Meihua Holdings Group Co., Ltd. (China)
Research Coverage
This report segments the savory ingredients market, on the basis of type, origin, form, application, and region. In terms of insights, this research report focuses on various levels of analyses—competitive landscape, end-use analysis, and company profiles—which together comprise and discuss the basic views on the emerging & high-growth segments of the savory ingredients market, high-growth regions, countries, industry trends, drivers, restraints, opportunities, and challenges.
Reasons to buy this report
• To get a comprehensive overview of the savory ingredients market
• To gain wide-ranging information about the top players in this industry, their product portfolio details, and the key strategies adopted by them
• To gain insights about the major countries/regions, in which the savory ingredients market is flourishing
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