Upcoming Growth Trends in the Savory Ingredients Market

 The report "Savory Ingredients Market by Type ((Monosodium Glutamate, Yeast Extracts, HVPs, HAPs, Nucleotides, and Other Types), Form (Powder, Liquid, and Others), Origin (Natural and Synthetic), Application (Food and Feed), and Region - Global Forecast to 2025" According to MarketsandMarkets, 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%.

Browse 121 market data Tables and 46 Figures spread through 165 Pages and in-depth TOC on "Savory Ingredients Market - Global Forecast to 2025"


The yeast extracts segment is projected to witness significant growth during the forecast period

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. Yeast extracts are majorly used in the production of bakery & confectionery products in the food industry. Being natural savory ingredients and a rich source of proteins, vitamins, and minerals, yeast extracts make a perfect ingredient for bakery food products. The segment also accounted for a significant share in the savory ingredients market.

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The synthetic segment is expected to hold a major share of the savory ingredients market during the forecast period

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 of its low cost and high usage in the food industry. The most commonly used synthetic savory ingredient, monosodium glutamate (MSG), finds wide applications in savory foods, soups, sauces, and other processed food products. Also, the extraction process of synthetic savory ingredients is easier and cheap as compared to natural savory ingredients. Thus, the demand for synthetic savory ingredients is high in the savory ingredients market.

The Asia Pacific region is projected to witness the fastest growth during the forecast period

The Asia Pacific savory ingredients market is projected to have the fastest growth potential in the coming years. The large consumer market and increasing disposable incomes in India and China drive the demand for convenience & packed food products with enhanced savory flavors. Also, China and Japan are manufacturing hub for savory ingredients and have sufficient manufacturing plants to meet the demand for processed food products with blends of savory flavors. Rapid urbanization in countries such as India and China are expected to lead to the high growth of the savory ingredients market in Southeast Asia during the forecast period.

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This report includes a study of the marketing and development strategies, along with the product portfolios of the leading companies. It consists of the profiles of leading companies such as 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).

Known and Unknown Adjacencies Impacting the Savory Ingredients Market

The report "Savory ingredients Market by Type (Yeast extracts, Hydrolyzed vegetable proteins, Hydrolyzed animal proteins, Monosodium glutamate, Nucleotides), Application (Food, Feed), Origin (Natural, Synthetic), form, and Region - Global Forecast to 2022", The savory ingredients market is projected to reach a value of USD 8.46 Billion by 2022, at a CAGR of 5.61% from 2016. The market is driven by factors such as increase in consumption of ready-to-eat, ready-to-cook food, noodles, and increased demand for Umami flavor in almost all the regions of the world.

Market Dynamics

Drivers:

Rising demand for convenience food products
Changing food consumption habits of consumers in developing economies
Increasing demand for new product variant

Restraints:
Consumer awareness on health issues relating to savory ingredients and Consumer demand for clean labels
Stringent regulations

Opportunities:
Rising instant noodle industry

Challenges:
Increased cost of raw material & energy

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The yeast extracts segment is projected to be the fastest-growing from 2016 to 2022.

This segment is projected to grow at the highest CAGR from 2016 to 2022. Yeast extracts are gaining popularity due to the shift of consumers towards natural food and feed ingredients. The increasing demand for natural food and feed ingredients has triggered the demand for yeast extracts. Increasing awareness about the benefits of natural food and feed ingredients is projected to drive the market for yeast extracts in the next six years.

The powder segment is projected to grow at a significant rate during the forecast period.

On the basis of form, the powder segment is the largest segment, and was followed by the liquid segment in 2015. The liquid segment is projected to grow at the highest CAGR from 2016 to 2022. The powder form is preferred due to its ease of mixing with the other ingredients.

The food segment is projected to be the largest from 2016 to 2022.

On the basis of application, food was the largest segment in 2015 and is projected to grow at the highest CAGR from 2016 to 2022. Growth of convenient and ready-to-eat meal industry has fueled the market for savory ingredients.

The natural segment is projected to grow at a significant rate during the forecast period.

With increase in awareness amongst consumers about the health and environmental concerns, the demand for the natural ingredients is increasing to ensure the quality and safety of food products. These ingredients do not contain any artificial or chemical flavoring substances, and can be used in their natural form. Focusing on the rising demand for natural food products and increasing health and wellness awareness among consumers, most chemically manufactured food ingredients are being replaced by natural ones.

The Asia-Pacific region is projected to grow at a significant rate from 2016 to 2022.

The Asia-Pacific market is projected to grow at the highest CAGR during the forecast period, owing to the increase in demand for food products. Growth in population, rise in disposable incomes, progressive urbanization, and increase in demand for food products have driven the market for savory ingredients. Growth is majorly witnessed in Vietnam, China, Japan owing to increase in purchasing power of the population.

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This report includes a study of marketing and development strategies, along with the product portfolio of leading companies, such as Koninklijke DSM N.V. (Netherlands), Ajinomoto Co., Inc. (Japan), Kerry Group plc (Ireland), Tate & Lyle plc (U.K.), and Givaudan (Switzerland).