Global savory ingredients market is projected to grow at a formidable rate during the forecast period, 2023-2027. The market growth can be attributed to the rising personal disposable income of the population and changing dietary preferences of consumers. Besides, growing inclination of the population towards ready-to-cook and ready-to-eat food products and availability of cost-effective ingredients are some of the factors contributing to the market growth. Rise in working population and busy lifestyle has created an increased demand for packaged foods, which in turn, has led to a high adoption of savory ingredients for enhanced taste and flavours. Market players are introducing new and global varieties of savory ingredients to cater to population of various cultures and ethnicities, which in turn, is driving their adoption even further. In the coming years, rising trend of clean label products, owing to rise in health concerns and greater awareness among population about the harmful ingredients are expected to boost the market growth.
The global savory ingredients market is divided into type, application, origin, form, and region. Based on type, the market is segmented into yeast extract, starch, hydrolysed vegetable protein, hydrolysed animal protein, monosodium glutamate, nucleotides, and others. In 2021, the monosodium glutamate accounted for the largest market share and yeast extracts segment is projected to grow at the highest CAGR during the forecast period. Based on application, the market is divided into food and feed. The food segment is estimated to grow at the highest CAGR during the forecast period. Geographically, the APAC region is projected to grow at the highest CAGR during the forecast period, owing to rise in disposable income of the population, progressive urbanization, increasing population, and increase in demand for food products.
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Some of the leading players in the global savory ingredients market are Ajinomoto Co., Inc., Symrise AG, Tate & Lyle PLC, Kerry Group PLC, Koninklijke DSM N.V., Vedan International, Senseint Technologies Corporation, Givaudan, Lesaffre Group, Angelyeast Co., Ltd., etc.
Attribute | Details |
Historic Data | 2017 – 2020 |
Estimated Year | 2022 |
Forecast Period | 2023 – 2027 |
Quantitative Units | Revenue in USD Million, Volume in Units, CAGR for 2017-2021 and 2022-2027 |
Report coverage | Revenue Forecast, Volume Forecast, Company Share, Competitive Landscape, Growth Factors, And Trends |
Segments covered | · By Type · By Application · By Origin · By Form |
Region scope | Asia Pacific; Europe & CIS; North America; South America; Middle East & Africa |
Country scope | China, India, Japan, South Korea, Australia, Singapore, Malaysia, France, Germany, United Kingdom, Italy, Spain, United States, Mexico, Canada, Brazil, Argentina, Colombia, South Africa, Saudi Arabia, UAE, Qatar |
Key companies profiled | Ajinomoto Co., Inc., Symrise AG, Tate & Lyle PLC, Kerry Group PLC, Koninklijke DSM N.V., Vedan International, Senseint Technologies Corporation, Givaudan, Lesaffre Group, Angelyeast Co., Ltd. |
Customization scope | 10% free report customization with purchase. Addition or alteration to regional & segment scope. |
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