Savory Ingredients Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Savory Ingredients Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global savory ingredients market size reached US$ 7.0 Billion in 2022. Looking forward, IMARC Group expects the market 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. They are mainly used in the production of instant and food, meat products, and seasonings. Their utilization helps increase the product shelf-life and minimize the salt content in food preparation. Additionally, these ingredients are highly cost-effective and are easily available across the online and offline organized retail channels.

Savory Ingredients Market Trends:
The market is primarily driven by the growing demand for packaged instant food products. This can be attributed to the changing dietary preferences, hectic schedules led by the masses and the inflating per capita income levels, which have further resulted in the widespread preference for convenience foods across the globe. Apart from this, the shifting inclination of consumers towards purchasing clean label and organic products due to the rising awareness regarding the adverse effects of artificial ingredients is also positively impacting the market. Additionally, numerous key players are heavily investing in the introduction of improved product variants with better taste to cater to the diverse preferences of the consumers. Moreover, due to rapid urbanization, there has been a considerable rise in the popularity of East Asian cuisines on the global level, wherein savory ingredients form an essential part of food preparation. Some of the other factors providing an impetus to the market growth include favorable regulatory approvals and the escalating demand for bakery products among individuals.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global savory ingredients market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, form, application and source.

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

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-Midland 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 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?