Industry Background:
Savory ingredients are flavor enhancers demonstrating properties which alter the flavors of food items without needing to contribute any separate ones of their own. Savory flavors are crucial during the manufacturing of processed savory products such as frozen savory meals and snacks. In the current scenario, savory ingredient play an important role in enhancing the umami flavor of the product which is supporting its growth.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Billion) |
Key Companies Profiled | Koninklijke DSM N.V. (Netherlands), Ajinomoto Co., Inc. (Japan), Kerry Group Plc (Ireland), Tate & Lyle PLC (UK), Givaudan (Switzerland), Symrise AG (Germany), Lesaffre Group (France), Senseint Technologies Corporation (United States), Synergy Flavors (United States) and Angelyeast Co. Ltd. (China) |
According to AMA, the market for Savory Ingredients is expected to register a CAGR of 4.6% during the forecast period to 2027. This growth is primarily driven by Changing Food Consumption Habits of Consumers in Developing Economies, Rising Demand for Convenience Food Products and Increasing Demand of Processed Food and Bakery & Confectionery Products.
Globally, a noticeable market trend is evident Increasing Demand for New Product Variant
The Food Products sector in the Asia Pacific region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Koninklijke DSM N.V. (Netherlands), Ajinomoto Co., Inc. (Japan), Kerry Group Plc (Ireland), Tate & Lyle PLC (UK), Givaudan (Switzerland), Symrise AG (Germany), Lesaffre Group (France), Senseint Technologies Corporation (United States), Synergy Flavors (United States) and Angelyeast Co. Ltd. (China) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In 2021, Angel Yeast Co., Ltd, a high-tech yeast company listed in China, invested 100 million yuan to set up a joint venture to acquire the yeast-related assets of Shandong Bio Sunkeen Co, Ltd. The company optimizes its production capacity and further strengthens and strengthens its position in the industry. and Solina, Europe's leading producer of savory ingredient solutions for the food industry, announced the acquisition of Asenzya, a former Foran Spice Company. Asenzya is now focusing on culinary and innovation development to enable the company to access custom seasoning blends and solutions and demonstrate a tremendous commitment to the highest quality standards from start to finish of production. The acquisition allows Asenzya to offer its customers multiple factory location options and broadly expands its feature offerings.
In 2021, Symrise Diana Food has reached an agreement with SMAG Smart Agriculture to develop a custom mobile software app that will digitize Symrise Diana Food's global agricultural activities. and In 2020, The Kerry Group has established a new regional development and food manufacturing facility in Rome Georgia. This new establishment will help the company serve its European customer base, increase its production capacity and expand its geographic reach.
Savory Ingredients Market Dynamics:
Attributes | Details |
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Growth Drivers | - Changing Food Consumption Habits of Consumers in Developing Economies
- Rising Demand for Convenience Food Products
- Increasing Demand of Processed Food and Bakery & Confectionery Products
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Influencing Trends | - Increasing Demand for New Product Variant
- Adaption of Hotter and Spicier Flavoured Product
|
Restraints | - Stringent Government Regulations
- Increasing Consumer Awareness on Health Issues and Consumer Demand for Clean Labels
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Gaps & Opportunities | - The Growth of Instant Noodle Production Worldwide
- Increasing Inclination of the Population Towards Ready-to-Cook and Ready-to-Eat Food Products
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AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Savory Ingredients Market
- Analysis about New Entrants in Savory Ingredients Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Savory Ingredients Study Sheds Light on
The Savory Ingredients Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Savory Ingredients industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Savory Ingredients industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.