Savory Ingredients Market

Savory Ingredients Market Size, Growth, Forecast (2023-2028)

The global Savory Ingredients Market size was calculated at USD 7.2 billion in 2022, and it is predicted to reach a valuation of USD 9.3 billion by 2028 at a CAGR of 5.2% during the assessment period. The demand for foods with different flavors is growing exponentially worldwide.

Market Overview:

The Savory Ingredients are used to give the food a pleasant and salty taste. These ingredients are known to improve the flavor and aroma of food, improving the taste of food. Savory Ingredients are added to foods to improve flavor and aroma. They are used in a variety of applications in the food industry because they are used as general tonics for the digestive tract and preservative properties. The Savory Ingredients act as a flavor enhancer that exhibits properties that change the flavor of foods without providing separate ingredients. Salty flavor is important for making high-flavor products, such as frozen-flavored meals and snacks. They provide a pleasant aroma and flavor through effective condiments. These ingredients play an important role in improving the overall essence of food, so it is expected to expand during the forecast period. MCG, HAP yeast extract, etc., are among the major types of Savory Ingredients. Yeast extract, a naturally flavored ingredient, is the fastest-growing category of flavor ingredients in the market. It provides a natural salty flavor and is mainly used in the production of prepared foods, meat products, nutritional foods and condiments. They can also be used to minimize the salt content in food preparation.

Recent Developments in Savory Ingredients Industry:

• In November 2019, Tate & Lyle announced the opening of a new and expanded Latin American headquarters in Sao Paulo, Brazil, with a pilot plant and an application center with state-of-the-art laboratory kitchens.
• In November 2019, Royal DSM, a major player in the salty ingredients market, announced the acquisition of AVA, a US-based personalized nutrition platform. USA It offers nutrition and training recommendations in a wide range of health and wellness sectors.
• In October 2018, Kerry Group Plc announced that the acquisition of AATCO Food Industries LLC and Fleischmann's Vinegar Company Inc. agreed to expand its old core technology portfolio and improve food service and positioning in developing countries.

REPORT COVERAGE:

Savory Ingredients Market Growth:

The demand for flavor enhancers has been shown to increase significantly due to the availability of a wide variety of food options for consumers.

Drivers:

Convenience food products provide solutions to balance work life and stress-related problems by minimizing meal effort and preparation time. Increased consumption of convenience products is expected to drive demand during the forecast period. Savory ingredients are added to foods to improve flavor and aroma. As the precast lifestyle increases and disposable income increases, the consumption of precast and ready-to-cook products increased, which is promoting the development of the global Savory Ingredients market. Also, these ingredients are being utilized by food manufacturers as thickeners, stabilizers, and emulsifiers in various foods. The impact of snack trends toward functional and health-promoting products is evident in the salty ingredient space, and manufacturers must redefine their product growth and innovation strategies. We analyze trends in the food and beverage industry and their impact on future developments in the salty materials market. While salty ingredients like hydrolyzed animal protein continue to provide the desired flavor effect to processed meat products, the picture is changing as consumer propensity for vegan and vegetarian diets increases. In recent years, many consumers prefer a meat-free or meat-free diet. However, these consumers do not necessarily want to give up the meat flavor, which can increase demand for salty ingredients like dark yeast. It can be used as a mixture of salty flavors and salty seasonings.

Additionally, these savory ingredients exhibit desirable colors and flavors, and work well in plant-based alternatives like veggie burgers and sweet and savory spreads. Due to the growing demand for yeast extract, the global market for savory ingredients is expected to grow. Yeast extract is a natural ingredient made from yeast to produce wine, bread and beer that is rich in B vitamins, which makes it to be used as a flavor enhancer. As the labor force and the number of individual households skyrocketed, consumption patterns gradually changed, greatly affecting the sale of prepared foods worldwide. Demand for savory materials is also expected to potentially increase. These ingredients continue the versatility index, which is effectively used as a thickener, emulsifier, and stabilizer in a variety of foods. The main players in the savory ingredients market may develop new flavors and variations due to significant advances in food technology. Additionally, health and wellness trends have led to the development of convenient instant diet soups, protein-rich soups, and other ready-to-eat foods. As a result, the demand for Savory Ingredients increases, which can change consumers' taste preferences. Technological advances in developing countries and improved distribution networks have created opportunities for substantial growth in Savory Ingredients. Also, as interest in R&D increases, you are driving innovation in a wide range of applications across different product categories.

Restraints:

Health-related concerns and stringent regulations imposed by government agencies hinder the market growth. The health risks associated with consuming Savory Ingredients are a major hurdle for this market, along with a clean labeling movement that has begun to return to real foods with natural, simple ingredients that are easy for consumers to recognize, and a major obstacle to this market.

Impact of COVID-19 on the Asia Pacific Savory Ingredients Market:

Reduced consumption of poultry, meat and seafood products due to COVID19 pandemic worldwide is expected to reduce demand for savory ingredients and the same is continued in the near future. The increasing preference for fresh vegetables and immunity-boosting products is touted to affect the sales of savory ingredients to some extent.

Savory Ingredients Market Segmentation Analysis:

By Type:

• Monosodium Glutamate (MSG)   
• Yeast Extracts       
• HVPs 
• HAPs 
• Nucleotides 

By Application:

• Food  
• Feed

By Form:

• Powder        
• Liquid

By Origin:

• Natural        
• Synthetic               

Geographical Segmentation Analysis:

• North America - the United States and Canada
• Europe - United Kingdom, Spain, Germany, Italy, and France
• The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
• Latin America  - Brazil, Argentina, Mexico, and Rest of LATAM
• The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

Regional Analysis:

Depending on the region, the global savory ingredients market is analyzed in North America, Europe, Asia Pacific and LAMEA. The region that dominates the market is Asia Pacific. Contributing factors to this growth are increased demand for ready-to-use food, a larger workforce, increased disposable income, and urbanization. This growth is mainly observed in countries such as China, Vietnam and Japan as the purchasing power of consumers’ increases. Southeast Asian countries like Korea, Indonesia and Thailand are also contributing to the growth of the market. North America is the fastest-growing market in the Savory Ingredients, followed by Europe. In value terms, the North American market will continue to grow at more than half of the overall market share.

Key Players in the Market:

Major Key Players in the Global Savory Ingredients Market are

• Kerry Group PLC              
• Ajinomoto Co., Inc          
• ADM Company                
• Givaudan               
• Koninklijke DSM N.V                 
• Tate & Lyle PLC               
• Lesaffre Group                
• AngelYeast Co., Ltd         
• Cargill Inc              
• Sensient Technologies Corp