The savory ingredients market was valued at USD at 6.1 billion in 2019 and is projected to grow at a CAGR of 5.8% from 2020, to reach a value of 9.0 billion by 2027. The savory ingredients are flavor enhancers, which consist of properties that modify the zests of the food items without needing to contribute the separate ones of their own. In the savory products such as frozen savory meals and snacks, the savory flavors act as an important ingredient during the manufacturing process. Savory Ingredients are used in food & beverages as well as in the pet industry for several purposes, such as improved flavors, aroma, and taste of the products. It offers appealing texture and manages product quality.
Companies considered and profiled in this market study:
INEOS, Olin Corporation, Inovyn Chlorvinyls Limited, Occidental Petroleum Corporation, UNID, Haifa Chemicals Ltd., Potash Corp., ICL Fertilizers, The Mosaic Company, and Armand Products, among others.
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The report includes the impacts the economy and global Savory Ingredients industry has suffered due to the pandemic. The pandemic has made significant dents on the functioning of this industry, and therefore the inclusion of its effect was mandatory for accurate analysis of future trends.
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.
For the purpose of this report, Reports and Data have segmented into the global Savory Ingredients market on the basis of type, form, applications, end-users, and region:
By Type: (Volume Metric Tons, Revenue, USD Million; 2020-2027)
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; 2020-2027)
Food
Feed
By Origin: (Volume Metric Tons, Revenue, USD Million; 2020-2027)
Natural
Synthetic
By Form: (Volume Metric Tons, Revenue, USD Million; 2020-2027)
Liquid
Powder
Others (sprays and pastes)
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The study encompasses the different regions of the world in which the Savory Ingredients industry operates. These regions are:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
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….Continued
Key Questions Answered:
What are the key strategies used by prominent players and service providers to get ahead in the Savory Ingredients market?
What are the resources that exist in respective regions that attract the major players in the Savory Ingredients market?
What are the latest technologies that are being used by the market?
How are the recent trends affecting the growth of the global Savory Ingredients market?
What will be the estimated value of the Savory Ingredients market in the forecast period?
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