Savory Ingredients Market in Asia Pacific is Projected to Have Huge Potential for Market Growth in the Future

Posted on 2021-04-05 by MarketsandMarkets in Food & Beverage // 0 Comments

The 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%.

The constantly changing consumer lifestyles and preferences toward convenience foods have shown an upward trend in the last few years. Savory ingredients provide an appealing taste and smell to the food when used as an effective seasoning.

Download PDF Brochure

Based on type, the savory ingredients market is segmented into monosodium glutamate (MSG), yeast extracts, hydrolyzed vegetable proteins (HVPs), hydrolyzed animal proteins (HAPs), nucleotides, and other types. The yeast extracts segment is projected to witness significant growth during the forecast period, owing to its major utility in the production of bakery & confectionery products in the food industry. They form an excellent and rich source of proteins, vitamins, and minerals, having wide applications in a range of food products—from soups and sauces to meat and canned fish. Therefore, the segment accounts for a larger share in the savory ingredients market.

Based on origin, the savory ingredients market is segmented into synthetic and natural. The synthetic segment is estimated to account for a larger share in the savory ingredients market because they are comparatively low in price as opposed to the additional extraction expenses incurred on a natural source. In addition, the process of extraction is easier & cheaper. One of the major synthetic savory ingredients is monosodium glutamate (MSG), which has wide application range in savory foods, soups, sauces, and other processed food products. Thus, the demand for synthetic savory ingredients is high in the savory ingredients market.

The Asia Pacific savory ingredients market is projected to have huge potential for market growth in the future. Factors like rapid urbanization and increase in purchasing power in the developing countries of the Asia Pacific region, such as China, India, and Indonesia, is propelling the demand for convenience foods, meat- & fish-based food products, beverages, snack products, and others such as confectionery products, bakery, and dairy products. Also, China and Japan are one of the major producers and consumers of MSG across the globe, owing to which Asia Pacific dominated the market for savory ingredients.

Make an Inquiry

Leading companies are Ajinomoto Co., Inc. (Japan), Koninklijke DSM N.V. (Netherlands), Kerry Group PLC (Ireland), Tate & Lyle PLC (UK), AngelYeast Co., Ltd. (China), Givaudan (Switzerland), Lesaffre Group (France), ADM (US), Cargill (US), Sensient Technologies Corporation (US), ABF Ingredients (OHLY) (Germany), Vinayak Ingredients India Pvt Ltd. (India), Vedan International (Holdings) Limited (Hong Kong), Symrise (Germany), and Synergy Flavors (US).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Matched content

Editor’s pick