Savory Ingredients Market Is Forecast To Reach $12.75 Billion By 2024: Grand View Research, Inc.

Posted on 2018-07-24 by researchinsights in Food & Beverage, Small Business // 0 Comments

The global Savory Ingredients Market is expected to reach USD 12.75 billion by 2024, according to a new report by Grand View Research, Inc. Savory ingredients are widely used as seasoning and flavoring agents in the food industry.

Growing disposable income has increased the consumption of time-saving food product, which is projected to boost the market growth over the coming years. The growing usage of savory ingredients in the food service industry is also expected to propel market growth.

Savory ingredients are used in the animal feed & pet food industry to enhance food flavors. The growing demand for packaged pet food in the Asia Pacific is anticipated to drive market demand over the coming years.

Companies such as DSM, Kerry Group, Givaudan, Diana, and Lesaffre have adopted acquisition strategies to enhance their product offerings and regional presence. This approach has helped companies acquire distribution centers and diversify their offerings across many end-use application markets.

To request a sample copy summary of this report, click the link below:
www.grandviewresearch.com/industry-analysis/savory-ingredients-market

U.S. savory ingredients market revenue by product, 2014 – 2024 (USD Million)

Further key findings from the report suggest:

The global savory ingredients market demand was 3,929.6 kilo tons in 2015 and is expected to reach 6,195.4 kilo tons by 2024, growing at a CAGR of 5.2% from 2016 to 2024
Monosodium glutamate (MSG) was the leading product segment and accounted for over 80% of global demand in 2015. The use of Monosodium glutamate is extensively in the manufacture of processed food such as soups, meat, snacks, and other ready-to-go meals.
Hydrolyzed animal proteins (HAP) has gained wide acceptance in the animal feed and pet food industry
Food was the leading application segment and accounted for over 65% of total market volume in 2015. The segment is also expected to witness the highest growth of 5.4% over the forecast period on account of increasing savory ingredient demand in the convenience food and food service industry.
Major companies identified in the market include Ajinomoto Co., Inc., Angel Yeast Co., Ltd., Vedan International Holdings Ltd., DIANA Group, and Givaudan S.A. among others. Growing investment in new product development and R&D is expected to propel the market demand over the coming years.
Companies such as Sensient Technologies, Givaudan, DSM, Ajinomoto have invested in expanding production capabilities to cater to increasing market demand. HACCP, KOSHER, HALAL, ISO certifications help companies gain a competitive edge in the market.

Related Report of Nutraceuticals & Functional Foods:

Protein Ingredients Market
Functional Ingredients Market

Grand View Research has segmented the savory ingredients market on the basis of product, application, and region:

Global Savory Ingredients Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2024)

Yeast extracts
Hydrolyzed vegetable proteins (HVP)
Hydrolyzed animal proteins (HAP)
Monosodium glutamate (MSG)
Nucleotides
Others

Global Savory Ingredients Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2024)

Food
Pet food
Others

Global Savory Ingredients Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2024)

North America
- U.S.
- Canada
- Mexico
Europe
- Germany
- Italy
- UK
- France
Asia Pacific
- China
- India
- Japan
Central & South America
- Brazil
Middle East & Africa
- South Africa

Access Press Release of This Research Report by Grand View Research: www.grandviewresearch.com/press-release/global-savory-ingredients-market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials, and healthcare.

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