The savory ingredients market was valued at USD at 10.36 Billion in 2020 and is projected to grow at a CAGR of 5.8% from 2020, to reach a value of 16.74 Billion by 2028. Consumers desire consuming diets that are more suitable to prepare and simultaneously have good flavor/taste to it, in turn driving the savory ingredients market.
Factors such as busy lifestyles have changed the food practices of the individual, and consumers are now looking out for choices that are less time consuming, tasty, and are healthier at the same time. The savory ingredients are cost-saving due to their multipurpose nature; for instance, the manufacturers are using them as stabilizers, thickening agents, and emulsifiers in various food products. There is a demand for the yeast extracts, natural savory ingredients used in the production process of dough, wine, and other alcoholic drinks. They are rich in vitamin B complex and amino acids, and thus they are majorly used as taste enhancers. The factor that is affecting the market negatively is the health hazards that are involved in using the savory ingredients in the food products. Trans-fat is typically used as a preservative as they don’t spoil the food, and corn syrup is a cheap way to make the product sweet. There is a shift witnessed in the industry where consumers are avoiding foods which contain trans-fat due to its dangerous effect. Salt can also add excellent flavor very inexpensively to the food, and it is tougher to control fat, salt, and sugar levels.
Key participants in the savory ingredients market are the ingredients manufacturers, suppliers, and regulatory bodies. Across the globe, public health challenges such as obesity and diabetes are increasingly prevalent across all ages and in all corners of the world. This has substantially increased the focus on improving the nutritional value of food supply to enable more nutritious and healthier food and beverage choices while maintaining convenience. Despite this, taste remains an essential factor to maximum consumers globally when it comes to choosing any food or drink products, indirectly reflects that producers cannot afford to look at nutrition in isolation. Therefore, in October 2015, Kerry group launched Kerry Health and Nutrition Institute, which is supported by Scientific Advisory Council; the Institute targets to deliver expert insight into the science and policy of health, taste, nutrition, and general wellness.
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Further key findings from the savory ingredients report suggest
- APAC region is expected to grow at a CAGR 7.0% during the forecast period. The dynamics that are aiding the growth are the increased demand for the ready-to-make food products, increased working population, and rapid urbanization. This progress is majorly observed in countries such as China, Vietnam, and Japan owing to the rise in the purchasing power of the consumers.
- In order to raise the business profit margin of the company in the Asia Pacific, in 2017, Ajinomoto Co. is restructuring the value chain of its Japan Food Products business as one of the key strategies in Under this strategy; it is consolidating and restructuring its food products production system in Japan with the formation of this new company, it aims to achieve a world-class level of production that meets customer demand flexibly and quickly. The Southeast Asian countries such as South Korea, Indonesia, and Thailand are also contributing to the market growth. Europe holds second place in the savory ingredients market. There is a variation observed in the industry where buyers are bypassing foods that comprise of trans-fat due to its serious effect. In convenience food production, it is tougher to constrain fat, salt, and sugar quantity.
- An increasing desire by many consumers to know more about the ingredients that are part of the meals they buy and consume is driving the savory ingredients market. Stating product origin or farm method (for example, the province/country of origin or whether the raw ingredients are free-range or organically farmed) can effectively convey a trusted source or premium quality.
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Segments covered in the report:
This Savory ingredients report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2017 to 2028. For the purpose of this study, Reports and Data have segmented the Savory ingredients market on the basis of form, type, application and region:
By Type: (Volume Metric Tons, Revenue, USD Million; 2020-2028)
- Monosodium glutamate
- Hydrolyzed animal protein
- Hydrolyzed vegetable protein
- Yeast extracts
- Nucleotides
- Others (soy sauce powder and savory spice mixes)
By Application: (Volume Metric Tons, Revenue, USD Million; 2020-2028)
- Food
- Feed
By Origin: (Volume Metric Tons, Revenue, USD Million; 2020-2028)
- Natural
- Synthetic
By Form: (Volume Metric Tons, Revenue, USD Million; 2020-2028)
- Liquid
- Powder
- Others (sprays and pastes)
Regional Outlook ((Volume Metric Tons, Revenue, USD Million; 2020-2028))
- North America
- U.S
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
- Rest of Latin America
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