Savory Ingredients Market Trends and Opportunities, Demands, Future Trends, Projected by 2026
The Global Savory Ingredients Market will expand at a considerable pace of 6.65% CAGR between 2019 and 2026. In the coming years, it is likely to gain impetus from the growing demand for new flavors and the ability of savory ingredients to suffice these needs. According to a report published by Fortune Business Insights, titled “Savory Ingredients: Global Market Analysis, Insights, And Forecast, 2019-2026,” the market was valued at US$ 7.25 Bn in 2018. Fortune Business Insights states that the market will reach US$ 11.94 Bn by 2026.
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“Some of the Main Key Players Covered in the Report”
- Ajinomoto Co., Inc.
- Koninklijke DSM N.V.
- Kerry Group PLC
- Tate & Lyle PLC
- Symrise AG
- Givaudan SA
- Sensient Technologies Corporation
- Savoury Systems International LLC
- P. Ingredients Ltd.
- Synergy Flavors
“Symrise’s Launch of Clean Labelled Culinary Base Products Will Enable Market Growth”
The demand for clean labeled products has resulted from increasing health awareness across the world. In the wake of an outcry for clean-labeled products, many companies are adapting to this strategy. This factor will help the company acquire a strong consumer base, which in turn will favor the growth of the global savory ingredients market.
In 2018, Symrise Flavor N.A. introduced an extensive line of culinary base ingredients with clean-labelled packaging. The company stated that its latest collection includes a wide range of vegetables and spices, thereby pertaining to a widespread audience. Fortune Business Insights states that the launch of products within the clean-label regulatory framework will aid the growth of the global savory ingredients market.
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- MSG (Monosodium Glucamate)
By End Use
- Food Processors
- Food Services (HoReCa)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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“Kerry Group’s Dual Acquisition Will Boost the Global Market”
The demand for savory ingredients has risen significantly in recent years due to changing lifestyle dietary habits. The savory ingredients are being used for the manufacture of healthy foods as well as vegan-based diets, to enhance the overall taste of the food products. Resulting from the soaring demand, companies are engaged in attractive business strategies and are conducting mergers and acquisitions, company collaborations, and agreements.
In December 2018, Kerry Group announced that it plans to acquire two renowned food companies for a combined total of over US$ 300 Mn. Kerry Group’s plans to acquire Ariake Japan Co. and Southeastern Mills (SEM), with an aim of expanding its clean-label product distribution to several countries across the world.
Fortune Business Insights has labeled some of the leading companies that have made a positive impact on the global savory ingredients market. Some of the companies that have made significant growth contributions to the global market are Ajinomoto Co., Inc., Koninklijke DSM N.V., Kerry Group PLC, Tate & Lyle PLC, Symrise AG, Givaudan SA, Sensient Technologies Corporation, Savoury Systems International LLC, C.P. Ingredients Ltd., and Synergy Flavors
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