Increasing number of end-use applications of savory ingredients is driving the growth of market

Posted on 2021-06-09 by MarketsandMarkets in Food & Beverage // 0 Comments

The 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 rapid urbanization, influence of Western food habits, and an increase in the purchasing power parity of consumers in the developing countries of the Asia Pacific region, such as China, India, and Indonesia, also propel the demand for flavor enhancer-based products, such as convenience foods, meat- & fish-based food products, beverages, snack products, and others such as confectionery products, bakery, and dairy products.

However, the growing awareness regarding the ill-effects of synthetic savory ingredients, such as MSG, is one of the key factors restricting the growth of this market in developed regions, where the consumers are more inclined toward natural ingredients such as yeast extracts.

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Savory ingredients are finding applications in various food segments such as in soups & sauces, dehydrated noodles, ready-to-eat meals, and pet food. They are also used as seasonings and as salt replacements. To deliver the background richness and roundness, yeast extracts are increasingly used to provide both umami and kokumi tastes that add levels of flavor complexity to foods. The increase in consumption and usage of sauces, soups, and other seasonings in various countries is expected to bolster the demand for savory ingredients, such as MSG and nucleotides.

Based on application, the savory ingredients market is segmented into food and feed. The food segment is estimated to account for a larger share because of the high consumption of savory ingredients, such as MSG and yeast extracts, in various food applications, such as prepared meals and snacks. The rising consumption of natural savory ingredients with the growing demand for clean label and free-from products drives the market for savory ingredients in the food industry.

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Key players in this market include 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), Symrise (Germany), Synergy Flavors (US), Cargill (US), Sensient Technologies Corporation (US), ABF Ingredients (OHLY) (Germany), Vinayak Ingredients India Pvt Ltd. (India), Vedan International (Holdings) Limited (Hong Kong), The Fufeng Group (China), Meihua Holdings Group Co., Ltd. (China), Halcyon Proteins (Australia), Food Chem International (China), and Novozymes (Denmark).

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