Global Savory Ingredients Market is valued approximately USD 6.8 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 5.2 % over the forecast period 2020-2027. Savory ingredients enhance their taste and aroma of food products. It is used as a general tonic for the digestive tract and antiseptic properties and are utilized in various applications of food industry. The global Savory Ingredients is facing challenges due to the coronavirus pandemic as manufacturing sectors are temporary shutdown. So various companies has restricted their manufacturing and supply operations which halt the demand of Savory Ingredients currently. The increasing popularity of convenience food products, growing government intervention toward the reduction of salt intake in developed countries, increase in the number of end-use applications of savory ingredients and changing consumer food preferences in developing regions are the few factors responsible for growth of the market over the forecast period. Furthermore, the rising advancements and other strategic alliance by market key players will create a lucrative demand for this market. For instance: on 05th December 2019, AngelYeast Co., Ltd. launched a new natural flavor-enhancing solution for plant-based food and beverages, that will strengthen its product portfolio and increase its customer base in Europe. However, stringent regulations on international quality standards and high cost of processing and raw materials is the major factor restraining the growth of global Savory Ingredients market during the forecast period.
The regional analysis of global Savory Ingredients market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading/significant region across the world owing to the changes in lifestyles and an increase in disposable income levels. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.
Major market player included in this report are:
- Ajinomoto Co., Inc.
- Koninklijke Dsm N.V.
- Kerry Group Plc
- Tate & Lyle Plc
- Lesaffre Group
- Sensient Technologies Corporation
- Angelyeast Co., Ltd.
- Vedan International (Holdings) Limited
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
- Monosodium glutamate
- Hydrolyzed vegetable proteins
- Hydrolyzed animal proteins
- Prepared meals
- North America
- Asia Pacific
- South Korea
- Latin America
- Rest of the World
Furthermore, years considered for the study are as follows:
- Historical year – 2017, 2018
- Base year – 2019
- Forecast period – 2020 to 2027
Target Audience of the Global Savory Ingredients Market in Market Study:
- Key Consulting Companies & Advisors
- Large, medium-sized, and small enterprises
- Venture capitalists
- Value-Added Resellers (VARs)
- Third-party knowledge providers
- Investment bankers