Savory ingredients are known as flavor developed used as food additives in food processing sectors along with household applications. Savory ingredients help to develop the quality and shelf-life of the products.
There are different types of savory ingredients available globally. Of all the savory types available, monosodium glutamate is the most used and common savory ingredient.
Savory ingredients are widely used in Chinese and Japanese cuisines. Moreover, savory ingredients have acheived prominent acceptance from HoReCa sector. Savoryflavors are important during the manufacture of processed savory products such as frozen savory snacks and meals. The savory ingredients have a pleasant aroma and taste through the effective way of seasoning.
The savory ingredients market is observed to have a positive impact and is said to remain till the end of the foreseen period. Savory ingredients are economical motivating manufacturers to use them as stabilizers, emulsifiers, and thickening agents. The shift towards ready-to-eat food and ready-to-cook products, and the easy availability of cost-effective food products stimulate the market growth. The demand for snacks processed with savory ingredients integrated with growing disposable income of consumers across advancing regions stimulate the market growth during the foretold period.
Change in dietary preferences, rising disposable income, and stimulating demand for convenience foods among consumers drive the market growth. The demand for flavor developers is witnessing a notable rise due to the availability of a wide range of food choices for consumers. The quick urbanization with mounting purchase power of consumers, and consumers' wide variety of food choices escalate the savory ingredients market growth. The demand for savory ingredients from meat and poultry products integrated with the growing consumption of meat augments the market growth. Manufacturers launching new products and enlarging their food and beverages sector which present immense opportunities over the upcoming years.
However, consuming savory ingredients leads to health-hazardous hindering market growth. Strict government regulations on using savory ingredients restrain the market growth.
Recent Market Developments
The global Savory Ingredients Market is segmented based on type, origin, form, and application.
By type, the monosodium glutamate segment accounts for the largest share in the savory ingredients market. Due to the wide application areas of MSG across food and feed applications and its cost-effective nature accumulates the market growth during the foreseen period. Moreover, the segment contributes the highest share supporting the segment growth.
The demand for food comprising of various flavors is mounting at an epidemic rate globally. However, the manufacturers are improving varied product formulations addressing customer demand and rise the market growth.
Savory Ingredients Market - By Origin
The natural origin segment accounted for the maximum share in the savory ingredients market. The segment growth owes to the growing knowledge regarding the severe effect of consuming artificial ingredients. The demand for natural ingredients is accumulating due to the rising desire for natural food in consumers supports the revenue growth of the segment.
The synthetic origin is estimated to grow with the highest CAGR growth rate during the foreseeable period. The synthetic segment growth due to its low cost and high use of savory ingredients in the food sector. The inheriting process of synthetic origin savory ingredients is easy and low cost and the demand for synthetic savory ingredients is large.
The powder form segment is holding largest share. The powdered form can be easily mixed with other materials.
Based on the application, the food segment is dominating the global market. The high consumption of savory ingredients like MSG and yeast extracts over different food applications like prepared meals and snacks. The consumption of natural savory ingredients with the surging demand for clean-label and free-from products hikes the market growth throughout the period.
The snacks segment is accomplished to have grown with the highest share in 2019. The segment growth attributed to the rising customers' shift towards organic foods is fascinating the savory snacks by manufacturers. The advancements of healthy snacks by manufacturing companies are projected to boom the market growth during the period.
North America is set to have tremendous growth in the savory ingredients market.
Savory ingredients are demanding the addition of more flavors and the most popular potato chips in the U.S are still plain salted variety and the predominant marketer is Frito-Lay or Procter and Gamble.
Europe is the second-largest region in terms of revenue during the forecast period. The market growth in Europe owes to diet diversification, lifestyle changes, and increase in disposable income.
Asia-Pacific is dominating the savory ingredients market with the largest market share.
China is leading the market for savory ingredients and India is the second-largest country in the APAC region. Consuming noodles are high in these two countries is one major factor aiding the quick development of the market. China and Japan are manufacturing hubs for savory ingredients and have enough manufacturing plants for addressing the growing demand for processed food products with a combination of savoryflavors.
In China, nearly 3million households had a disposable income of around 10,000USD in 2000 and has risen to 60 million in 2012. In China and India, the market growth owes to the quick urbanization strengthening the market growth.
Latin America and the Middle East and African regions are at their developing stages. The increasing applications and production facilities boost the growing demand during the mentioned period. The increasing use of savory ingredients across animal feed and pet food industry stimulates the market growth.
Top key players operating in the global Savory Ingredients Market
1. Ajinomoto Co., Inc. (Japan)
2. Koninklijke DSM N.V. (Netherlands)
3. Kerry Group PLC (Ireland)
4. Tate & Lyle PLC (UK)
5. AngelYeast Co., Ltd. (China)
6. Cargill (US)
7. Sensient Technologies Corporation (US)
8. ABF Ingredients (OHLY) (Germany)
9. Vinayak Ingredients India Pvt Ltd. (India)
10. Vedan International (Holdings) Limited (Hong Kong)
11. Givaudan (Switzerland)
12. Lesaffre Group (France)
13. ADM (US)
14. Symrise (Germany)
15. Synergy Flavors (US)
16. Halcyon Proteins Pvt. Ltd. (Australia)
17. Novozymes (Denmark)
18. Food Chem International (China)
19. The Fufeng Group (China)
20.Meihua Holdings Group Co., Ltd. (China)
Chapter 1. Global Savory Ingredients Market – Scope & Methodology
1.1. Market Segmentation
1.3. Research Methodology
1.4. Primary Sources
1.5. Secondary Sources
Chapter 2. Global Savory Ingredients Market – Executive Summary
2.1. Market Size & Forecast – (2021 – 2027) ($M/$Bn)
2.2. Key Trends & Insights
2.3. COVID-19 Impact Analysis
2.3.1. Impact during 2022 - 2027
2.3.2. Impact on Supply – Demand
Chapter 3. Global Savory Ingredients Market – Competition Scenario
3.1. Market Share Analysis
3.2. Product Benchmarking
3.3. Competitive Strategy & Development Scenario
3.4. Competitive Pricing Analysis
3.5. Supplier - Distributor Analysis
Chapter 4. Global Savory Ingredients Market Entry Scenario
4.1. Case Studies – Start-up/Thriving Companies
4.2. Regulatory Scenario - By Region
4.3 Customer Analysis
4.4. Porters Five Force Model
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Powers of Customers
4.4.3. Threat of New Entrants
4.4.4. Rivalry among Existing Players
4.4.5. Threat of Substitutes
Chapter 5. Global Savory Ingredients Market - Landscape
5.1. Value Chain Analysis – Key Stakeholders Impact Analysis
5.2. Market Drivers
5.3. Market Restraints/Challenges
5.4. Market Opportunities
Chapter 6. Global Savory Ingredients Market – By Type
6.1. Monosodium glutamate
6.2. Hydrolyzed vegetable proteins
6.3. Hydrolyzed animal proteins
6.5. Other types
Chapter 7. Global Savory Ingredients Market – By Origin
Chapter 8. Global Savory Ingredients Marke – By Form
8.3. Other forms
Chapter 9. Global Savory Ingredients Market – By Application
9.2. Prepared meals
9.4. Other food applications
Chapter 10. Global Savory Ingredients Market, By Geography - Market Size, Forecast, Trends & Insights
10.1. North America
10.2.7. Rest of Europe
10.3. Asia Pacific
10.3.2. South Korea
10.3.5. Australia & New Zealand
10.3.6. Rest of Asia-Pacific
10.4. Rest of the World
10.4.1. Middle East
10.4.3. South America
Chapter 11. Global Savory Ingredients Market – Company Profiles – (Overview, Product Portfolio, Financials, Developments)
11.1. Company 1
11.2. Company 2
11.3. Company 3
11.4. Company 4
11.5 Company 5
11.6. Company 6
11.7. Company 7
11.8. Company 8
11.9. Company 9
11.10. Company 10
Primary & Secondary Sources to Collect & Validate Data
Utilization of Both Top Down & Bottom Up Approach
Holistic Research Methodology
Scope & Introductory Research
In the initial stage of research, the scope for market is defined. In order to better understanding of the market, secondary focus is on different segmentations of the market. Preliminary research involves identifying key data points related to the market under consideration to estimate the market sizes to the best extent.
Based on the scope of the market and the key data points, a number of secondary sources are considered. This data collection stage consists of a team of analysts who gather data from various secondary resources, accessing proprietary databases and primary research by reaching out to key market participants and opinion leaders.
At this stage, collected data using several sources is arranged in structured format. The sources include industry participants, in-house models, key opinion leaders in the market ecosystem and databases. Historical data trends are established at this point, and compared to the current scenario. Based on the macro- and micro-factor prevailing in various geographies, proprietary data models are used to analyze key market countries. Key players in this market are listed based on their capabilities in revenue, sales, and development. The study also involves the identification of companies in the category of 'new entrants' and their potential effects on the market.
At this stage, the analyst team moves on to understand how the market has changed over the years. The total size of the market is gathered after an study of different business segments and end-users is done. An impact research is also done to see what factors will/may influence the market in the years ahead. The effect of various variables on the industry is often taken into account when forecasting market sizes.
Data verification is conducted at all research levels, however this stage is dedicated to more rigorous checking of the data points. At this stage, the estimated data is triangulated with company revenues and checked with industry experts including several senior executives and key opinion leaders in the market. The data is then summarized, and the findings are derived from the same for the report.
Quality Assurance & Report Preparation
Holistic research methodology is followed with combination of Top Down and Bottom Up approach to undertake the estimation and forecasting task in order to ensure quality of data. At this stage of the research process, a dedicated QA team checks the data and approves after several predefined checks. Each section is checked and questioned to make the report accurate and reliable. In case of discrepancy, a team of analysts reviews the issue, and the whole process is repeated again. That significantly improves the report's quality. After approval, all the parts of the report are brought together and is formatted by highly trained team thus making it ready to dispatch.