Trends in Savory Ingredients Market

The savory ingredients market is growing rapidly, driven by the increasing demand for convenience foods and the rising popularity of ethnic cuisines. Savory ingredients are used to enhance the flavor and aroma of food products, and they are widely used in the food and beverage industry. The global savory ingredients market is expected to grow at a CAGR of 5.2% from 2020 to 2025, reaching a value of $11.3 billion by 2025.

Overview

The savory ingredients market is segmented into natural flavors, hydrolyzed vegetable proteins, yeast extracts, monosodium glutamate, nucleotides, and others. Natural flavors are the most widely used savory ingredients, accounting for the largest share of the market. Hydrolyzed vegetable proteins are also gaining popularity, as they are a good source of protein and are used as a flavor enhancer in various food products.

The market is also segmented into food applications, such as snacks, soups, sauces, dressings, and others. Snacks are the largest application segment, as savory ingredients are widely used in potato chips, crackers, and other snack products. Soups and sauces are also significant application segments, as savory ingredients are used to enhance the flavor and aroma of these products.

Key Players in the Trends in Savory Ingredients Market

The key players in the savory ingredients market include Kerry Group, Tate & Lyle PLC, Givaudan SA, Symrise AG, Sensient Technologies Corporation, Ajinomoto Co., Inc., and DSM NV. These companies are focusing on product innovation and development to meet the changing consumer preferences and to stay competitive in the market.

For instance, in 2020, Kerry Group launched a range of plant-based protein ingredients, including hydrolyzed vegetable proteins, to cater to the growing demand for plant-based food products. Similarly, in 2019, Givaudan SA launched a range of natural flavors, including umami flavors, to enhance the taste and aroma of 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, have been associated with health issues, such as headaches and allergic reactions. This has led to the development of natural and clean label savory ingredients, which are free from artificial additives and preservatives.

Another challenge faced by the market is the fluctuating prices of raw materials, such as soybeans and wheat. The prices of these raw materials are influenced by various factors, such as weather conditions, trade policies, and geopolitical tensions, which can affect the profitability of the market players.

Market Opportunities

The savory ingredients market offers several opportunities for growth, driven by the increasing demand for convenience foods and the rising popularity of ethnic cuisines. The market players can focus on product innovation and development to cater to the changing consumer preferences and to stay competitive in the market.

For instance, the market players can focus on developing natural and clean label savory ingredients, which are free from artificial additives and preservatives. They can also focus on developing savory ingredients that cater to the specific dietary requirements of consumers, such as gluten-free and vegan options.

Future of Savory Ingredients Market

The savory ingredients market is expected to grow at a steady pace in the coming years, driven by the increasing demand for convenience foods and the rising popularity of ethnic cuisines. The market players are expected to focus on product innovation and development to cater to the changing consumer preferences and to stay competitive in the market.

The market is also expected to witness consolidation, as the larger players acquire the smaller players to expand their product portfolio and to enter new markets. The market players are also expected to focus on sustainability, as the consumers are becoming more conscious about the environmental impact of the food products they consume.

Conclusion

The savory ingredients market is growing rapidly, driven by the increasing demand for convenience foods and the rising popularity of ethnic cuisines. The market players are focusing on product innovation and development to meet the changing consumer preferences and to stay competitive in the market. The market offers several opportunities for growth, driven by the increasing demand for natural and clean label savory ingredients and the specific dietary requirements of consumers. The market is expected to witness consolidation and focus on sustainability in the coming years.