Savory Ingredients Market Forecast

As the demand for savory food products continues to rise, the global savory ingredients market is expected to grow significantly in the coming years. Savory ingredients are used to enhance the flavor and aroma of food products, and are widely used in the food and beverage industry. The market for savory ingredients is expected to witness a CAGR of 5.2% during the forecast period of 2021-2026.

Overview

The global savory ingredients market is segmented based on type, application, and geography. Based on type, the market is segmented into yeast extracts, hydrolyzed vegetable proteins, monosodium glutamate, nucleotides, and others. Yeast extracts are expected to hold the largest market share due to their wide range of applications in the food and beverage industry. Based on application, the market is segmented into food, beverages, and others. The food segment is expected to hold the largest market share due to the increasing demand for processed and convenience food products.

Key Players in the Savory Ingredients Market Forecast

The key players in the savory ingredients market include Kerry Group, Tate & Lyle PLC, Givaudan SA, Symrise AG, Sensient Technologies Corporation, Ajinomoto Co., Inc., Lesaffre Group, Angel Yeast Co., Ltd., DSM NV, and Fufeng Group Limited. These players are focusing on product innovation and expansion to strengthen their market position. For instance, in 2020, Kerry Group launched a range of plant-based protein ingredients to cater to the growing demand for plant-based food products.

Market Challenges

One of the major challenges faced by the savory ingredients market is the increasing health concerns among consumers. Savory ingredients such as monosodium glutamate (MSG) have been linked to health issues such as headaches, nausea, and allergic reactions. This has led to a decline in the demand for savory food products containing MSG. In addition, the high cost of savory ingredients is also a major challenge faced by the market.

Market Opportunities

The increasing demand for natural and clean label ingredients is expected to create lucrative opportunities for players in the savory ingredients market. Consumers are becoming more health-conscious and are looking for food products that are free from artificial ingredients and additives. This has led to an increase in the demand for natural and clean label savory ingredients. In addition, the growing trend of plant-based food products is also expected to create opportunities for players in the savory ingredients market.

Future of the Savory Ingredients Market Forecast

The savory ingredients market is expected to witness significant growth in the coming years due to the increasing demand for processed and convenience food products. The market is also expected to benefit from the growing trend of plant-based food products and the increasing demand for natural and clean label ingredients. However, players in the market will need to address the health concerns associated with savory ingredients and focus on product innovation to stay competitive.

Conclusion

The global savory ingredients market is expected to grow significantly in the coming years due to the increasing demand for processed and convenience food products. The market is highly competitive, with players focusing on product innovation and expansion to strengthen their market position. The market is also expected to benefit from the growing trend of plant-based food products and the increasing demand for natural and clean label ingredients. However, players in the market will need to address the health concerns associated with savory ingredients to stay competitive.