Dublin, Nov. 07, 2023 (GLOBE NEWSWIRE) -- The "Savory Ingredients Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global savory ingredients market size reached US$ 7.0 Billion in 2022. Looking forward, the market is set to reach US$ 9.5 Billion by 2028, exhibiting a growth rate (CAGR) of 5.2% during 2023-2028.
Savory ingredients refer to flavor enhancers that are used to elevate the savory taste and aroma of food products during processing. Starches, yeast extracts, hydrolyzed vegetable proteins (HVP), hydrolyzed animal proteins (HAP), and monosodium glutamate (MSG) are some of the most commonly used savory ingredients across the food and beverages industry.
The market is primarily propelled by the increasing demand for packaged instant food products. This surge can be attributed to shifting dietary preferences, busy lifestyles among the general population, and rising per capita income levels. These factors have led to a widespread preference for convenient food options worldwide.
Furthermore, consumers are increasingly gravitating toward clean label and organic products due to growing awareness of the adverse effects associated with artificial ingredients. This shift in consumer preferences is positively influencing the market. Additionally, numerous key players are making substantial investments in the development of improved product variations with enhanced taste profiles to cater to the diverse preferences of consumers.
Rapid urbanization has also played a significant role, leading to a notable surge in the popularity of East Asian cuisines on a global scale. In these cuisines, savory ingredients play a pivotal role in food preparation.
Several other factors contributing to market growth include favorable regulatory approvals and a rising demand for bakery products among individuals.
Key Questions Answered in This Report:
- How has the global savory ingredients market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global savory ingredients market?
- What are the key regional markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the form?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the source?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global savory ingredients market and who are the key players?
- What is the degree of competition in the industry?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 142 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $7 Billion |
| Forecasted Market Value (USD) by 2028 | $9.5 Billion |
| Compound Annual Growth Rate | 5.2% |
| Regions Covered | Global |
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being
- Ajinomoto Co. Inc.
- AngelYeast Co. Ltd.
- Archer-Daniels-Midl
- Company
- Associated British Foods plc
- Cargill Incorporated
- Givaudan
- Kerry Group plc
- Koninklijke DSM N.V.
- Novozymes A/S
- Sensient Technologies Corporation
- Symrise AG and Tate & Lyle PLC.
Key Market Segmentation:
Breakup by Type:
- Starches
- Proteins
- Vegetable Protein
- Animal Protein
- Yeast
- Monosodium Glutamate (MSG)
- Others
Breakup by Form:
- Powder
- Liquid
- Paste
Breakup by Application:
- Food
- Feed
Breakup by Source:
- Natural
- Vegetable Extracts
- Animal Derived
- Microbial
- Synthetic
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/ou95h9
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