San Francisco, 3 December 2018: The global savory ingredients market is
expected to reach USD 12.75 billion by 2024, according to a new report by Grand
View Research, Inc. 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.
Access
Research Report of Savory Ingredients
Market @ www.grandviewresearch.com/industry-analysis/savory-ingredients-market
Further key findings from the report suggest:
· The global savory ingredients market demand
was 3,929.6 kilo tons in 2015 and is expected to reach 6,195.4 kilo tons by
2024, growing at a CAGR of 5.2% from 2016 to 2024
· Monosodium glutamate (MSG) was the leading
product segment and accounted for over 80% of global demand in 2015. The use of
Monosodium glutamate is extensively in the manufacture of processed food such
as soups, meat, snacks, and other ready-to-go meals.
· Hydrolyzed animal proteins (HAP) has gained
wide acceptance in the animal feed and pet food industry
· Food was the leading application segment
and accounted for over 65% of total market volume in 2015. The segment is also
expected to witness the highest growth of 5.4% over the forecast period on
account of increasing savory ingredient demand in the convenience food and food
service industry.
· Major companies identified in the market
include Ajinomoto Co., Inc., Angel Yeast Co., Ltd., Vedan International Holdings
Ltd., DIANA Group, and Givaudan S.A. among others. Growing investment in new
product development and R&D is expected to propel the market demand over
the coming years.
· Companies such as Sensient Technologies,
Givaudan, DSM, Ajinomoto have invested in expanding production capabilities to
cater to increasing market demand. HACCP, KOSHER, HALAL, ISO certifications
help companies gain a competitive edge in the market.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/nutraceuticals-functional-foods-and-dietary-supplements
Grand View Research has segmented the
savory ingredients market on the basis of product, application, and region:
Global Savory Ingredients Product Outlook
(Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)
·
Yeast extracts
·
Hydrolyzed vegetable proteins (HVP)
·
Hydrolyzed animal proteins (HAP)
·
Monosodium glutamate (MSG)
·
Nucleotides
·
Others
Global Savory Ingredients Application
Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)
·
Food
·
Pet food
·
Others
Global Savory Ingredients Regional Outlook
(Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
Germany
o
Italy
o
UK
o
France
·
Asia Pacific
o
China
o
India
o
Japan
·
Central & South America
o
Brazil
·
Middle East & Africa
o South Africa
Access Press Release of
Savory Ingredients Market@ www.grandviewresearch.com/press-release/global-savory-ingredients-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business decisions,
we offer market intelligence studies ensuring relevant and fact-based research
across a range of industries, from technology to chemicals, materials and
healthcare.
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