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The global savory ingredients market size was valued at USD 7.25 Billion in 2018, is projected to reach USD 11.94 Billion by the end of 2026, exhibiting a CAGR of 6.65% in the forecast period.
Bitter, salt, sour, and sweet are the four basic tastes which have been recognized by the people for many centuries. It has been assumed that the other tastes that evolved are an association with these four flavors. Umami is a savory taste which was first discovered in Japan. Umami certainly means a pleasant savory taste.
The savory ingredients are basically the ingredients which help in enhancing the savory taste in the food products. Savory ingredients are widely used in the Japanese and Chinese cuisines. In the past few years, savory ingredients have gained significant acceptance from the HoReCa sector.
Asia Pacific has acquired a majority of the market share in terms of value in the overall market. Increase in the growth of taste preference is one the major factor that is helping in the savory ingredients market growth.
The big players in the market include Ajinomoto Co., Inc., Koninklijke DSM N.V., Kerry Group plc, Tate & Lyle plc, Symrise AG, and Givaudan SA. The increased focus on R&D of technology involved in the production of various new products according to the new taste preferences will help in the growth of the market.
At the same time, any major events such as regulatory approvals, major acquisitions, and other developments in the region will directly influence the savory ingredients market revenue positively.
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"The Food Processors End-use Segment is Expected to Hold the Largest Share Throughout the Forecast Period"
The food processors end-use segment holds the largest market share in the overall market, this is due to the increased usage of savory ingredients in the processed food products. The incorporation of savory ingredients in food products such as savory snacks, which includes a variety of products such as nuts, crisps, extruded snacks, sweets, salty snacks, and others.
Snacks, soups, meat products , and others subsegments are covered under the food processors segment, among which the meat products are expected to hold the largest savory ingredients market revenue. Various types of savory ingredients are used in the curated meat products as savory ingredients will help in enhancing the taste.
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"Asia Pacific Region is Expected to Hold the Largest Share in the Savory Ingredients Market by 2026"
The Asia Pacific is the largest consumer of savory ingredients which is owing to the consumption of savory snacks, curated meat products, and soups. There is robust growth in the consumption of ready-to-eat meals, this is due to the change in lifestyle and fast-pacing life. Increase in the consumption of savory snacks and ready-to-eat meals is projected to support the Asia Pacific savory ingredients market growth.
There is an increase in the consumption and the production of MSG in the region. This is because of the high consumer taste preference in the region. China consumes a large quantity of MSG, especially in the HoReCa sector.
Asia Pacific Savory Ingredients Market, 2018
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Asia Pacific is considered to be an emerging economy in the market which is expected to create opportunities for various other food manufacturers in the region. For instance, increasing consumption of noodles in developing economies such as China, India due to busy lifestyle, increasing working professionals, and growing young population. Majority of noodles brands incorporate MSG, yeast extract, starch thus the escalating demand for instant noodles and other such convenient is expected to increase the demand for the aforementioned savory ingredients.
Savory ingredients are certain flavors which helps in providing a pleasant taste and flavor to the food product. Apart from the spicy taste, it’s the savory taste that is being used mostly by the food manufacturers. Taste preferences vary from one person to the other and from one particular region to the other. Most of these savory ingredients are used in large quantities in food products such as noodles, snacks, and meat products.
The report provides quantitative and qualitative insights on the savory ingredients industry and detailed analysis of market size & growth rate (in terms of Value) for all possible segments in the market. The savory ingredients market is segmented by source, end-use, type, form, and geography.
On the basis of source, the market is categorized into natural and synthetic. Natural is further sub-segmented as vegetable extracts, animal-derived, and microbial. On the basis of end-use, the savory ingredients industry is segmented as food processors and food services (HoReCa).
On the basis of type, the market is segmented as starches, animal protein, vegetable protein, MSG, yeast extracts, and others. By form, the market is segmented as powder, liquid, and paste. Geographically, the global market is segmented into four major regions, which are North America, Europe, Asia Pacific, and Rest of the World. The regions are further categorized into countries.
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Along with this, the report on savory ingredients provides an elaborative analysis of the savory ingredients industry dynamics and competitive landscape. Various key savory ingredients market insights provided in the report are the overview of related markets, recent industry developments such as mergers & acquisitions, new product innovations and launches, the regulatory scenario in key countries, and key industry trends.
By End Use
Fortune Business Insights says that the value of the global Savory Ingredients Market was USD 7.25 Billion in 2018.
The Savory Ingredients Market is projected to reach USD 11.94 Billion by 2026.
The Savory Ingredients Market will grow at the rate of 6.65% CAGR.