Savory Ingredients Market Size, Share & Trends Analysis Report By Product, By Source, By Form, By Application, By Region, And Segment Forecasts, 2024 - 2030

Savory Ingredients Market Size, Share & Trends Analysis Report By Product, By Source, By Form, By Application, By Region, And Segment Forecasts, 2024 - 2030

Savory Ingredients Market Growth & Trends

The global savory ingredients market is expected to reach USD 15.62 billion by 2030, according to a new report by Grand View Research, Inc. exhibiting a CAGR of 4.7% during the forecast period. Savory ingredients are widely used as seasoning and flavoring agents in the food industry.

Growing disposable income has increased the consumption of time-saving food product, which is projected to boost the market growth over the coming years. The growing usage of savory ingredients in the food service industry is also expected to propel market growth.

Savory ingredients are used in the animal feed & pet food industry to enhance food flavors. The growing demand for packaged pet food in Asia Pacific is anticipated to drive market demand over the coming years.

Companies such as DSM, Kerry Group, Givaudan, Diana, and Lesaffre have adopted acquisition strategies to enhance their product offerings and regional presence. This approach has helped companies acquire distribution centers and diversify their offerings across many end-use application markets.

Savory Ingredients Market Report Highlights

• The natural segment dominated the market with 64.6% share in 2023. One of the main factors driving the rise in demand for natural savory ingredients is the growing awareness of consumers towards their health.
• The powder segment dominated the market with a share of 41.9% in 2023. This is mainly owing to the ease and flexibility it offers.
• The food segment dominated the market with a share of 66.1% in 2023. Modern consumers are showing a growing interest in discovering different flavors and experiences when making food decisions.
• Asia Pacific dominated the global savory ingredients market with a share of 72.2% in 2023.

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