Global Savory Ingredients Market Size, Share & Trends Analysis Report By Source (Natural, and Synthetic), By Application, By Type, By Regional Outlook and Forecast, 2024 - 2031

Global Savory Ingredients Market Size, Share & Trends Analysis Report By Source (Natural, and Synthetic), By Application, By Type, By Regional Outlook and Forecast, 2024 - 2031

The Global Savory Ingredients Market size is expected to reach $14 billion by 2031, rising at a market growth of 7.3% CAGR during the forecast period.

Nucleotides are essential flavor enhancers that work synergistically with other savory ingredients to create a rich and satisfying taste experience. They are commonly used in soups, broths, seasonings, and meat products to enhance umami flavors. The incorporation of nucleotides into a diverse array of food formulations has been driven by the growing demand for processed and convenience foods. Their ability to provide a depth of flavor and improve the overall taste profile of food products has made them a valuable ingredient in the market. Thus, the Nucleotides segment generated 14% revenue share in the market 2023.

The global expansion of the food service industry, including restaurants, fast food chains, and ready-to-eat meal providers, is significantly driving the demand for savory ingredients to enhance the flavor profiles of their offerings.

Additionally, as people worldwide become more interconnected, they are increasingly exposed to various ethnic and regional cuisines that were once confined to specific geographical areas. This exposure has sparked a growing curiosity and appreciation for new and unique culinary experiences, driving the demand for ingredients and flavors integral to these global cuisines. Thus, the globalization of food culture significantly aids in the market's growth.

However, the production of specific savory ingredients frequently results in substantial expenditures because of the intricate manufacturing processes and the high cost of basic materials. The collective effect of these factors is an increase in production costs, which is ultimately reflected in the escalating prices of end products. Hence, the aforementioned factors may hamper the growth of the market.

Source Outlook

Based on source, the market is bifurcated into natural and synthetic. The natural segment garnered 55% revenue share in the market in 2023. This strong performance is largely attributable to several key trends and consumer preferences.

Application Outlook

By application, the market is divided into ready meals, snacks, feed, and others. The ready meals segment procured 28% revenue share in the market in 2023. The demand for ready meals has been driven by the busy lifestyles of consumers, who seek convenient and quick meal solutions without compromising taste and nutrition.

Type Outlook

On the basis of type, the market is classified into yeast extract, starch, hydrolyzed vegetable protein, hydrolyzed animal protein, nucleotides, monosodium glutamate, and others. The monosodium glutamate segment acquired 29% revenue share in the market in 2023. The capacity of MSG to intensify and balance savory flavors has made it a popular flavor enhancer in a variety of processed foods, soups, munchies, and ready-to-eat meals.

Regional Outlook

Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment recorded 28% revenue share in the market in 2023. There are numerous factors that contribute to this dominance, such as the region's well-established food industry.

List of Key Companies Profiled

• Sensient Technologies Corporation
• Kerry Group plc.
• Archer Daniels Midland Company
• AngelYeast Co., Ltd.
• Tate & Lyle plc
• Associated British Foods PLC (Wittington Investments Limited)
• Koninklijke DSM N.V.
• Givaudan International SA
• Symrise AG
• Ajinomoto Co., Inc.

Global Savory Ingredients Market Report Segmentation

By Source

• Natural
• Synthetic

By Application

• Snacks
• Ready Meals
• Feed
• Others

By Type

• Monosodium Glutamate
• Yeast Extract
• Starch
• Hydrolyzed Vegetable Protein
• Hydrolyzed Animal Protein
• Nucleotides
• Others

By Geography

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Australia
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA