Savory Ingredients Market To Reach $12.75 Billion By 2024

September 2016 | Report Format: Electronic (PDF)

The global savory ingredients market is expected to reach USD 12.75 billion by 2024, according to a new report by Grand View Research, Inc. Savory ingredients are widely used as seasoning and flavoring agents in the food industry.

Growing disposable income has increased the consumption of time-saving food product, which is projected to boost the market growth over the coming years. The growing usage of savory ingredients in the food service industry is also expected to propel market growth.

Savory ingredients are used in the animal feed & pet food industry to enhance food flavors. The growing demand for packaged pet food in Asia Pacific is anticipated to drive market demand over the coming years.

Companies such as DSM, Kerry Group, Givaudan, Diana, and Lesaffre have adopted acquisition strategies to enhance their product offerings and regional presence. This approach has helped companies acquire distribution centers and diversify their offerings across many end-use application markets.

 To request a sample copy or view summary of this report, click the link below:
http://www.grandviewresearch.com/industry-analysis/savory-ingredients-market

Further key findings from the report suggest:

  • The global savory ingredients market demand was 3,929.6 kilo tons in 2015 and is expected to reach 6,195.4 kilo tons by 2024, growing at a CAGR of 5.2% from 2016 to 2024

  • Monosodium glutamate (MSG) was the leading product segment and accounted for over 80% of global demand in 2015. The use of Monosodium glutamate is extensively in the manufacture of processed food such as soups, meat, snacks, and other ready-to-go meals.

  • Hydrolyzed animal proteins (HAP) has gained wide acceptance in the animal feed and pet food industry

  • Food was the leading application segment and accounted for over 65% of total market volume in 2015. The segment is also expected to witness the highest growth of 5.4% over the forecast period on account of increasing savory ingredient demand in the convenience food and food service industry.

  • Major companies identified in the market include Ajinomoto Co., Inc., Angel Yeast Co., Ltd., Vedan International Holdings Ltd., DIANA Group, and Givaudan S.A. among others. Growing investment in new product development and R&D is expected to propel the market demand over the coming years.

  • Companies such as Sensient Technologies, Givaudan, DSM, Ajinomoto have invested in expanding production capabilities to cater to increasing market demand. HACCP, KOSHER, HALAL, ISO certifications help companies gain a competitive edge in the market.

Grand View Research has segmented the savory ingredients market on the basis of product, application, and region:

Global Savory Ingredients Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)

  • Yeast extracts

  • Hydrolyzed vegetable proteins (HVP)

  • Hydrolyzed animal proteins (HAP)

  • Monosodium glutamate (MSG)

  • Nucleotides

  • Others

Global Savory Ingredients Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)

  • Food

  • Pet food

  • Others

Global Savory Ingredients Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • Italy

    • UK

    • France

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

  • Middle East & Africa

    • South Africa

Request Sample
Request for Customization

Choose License Type:

Single User - $3,450
Multi User - $6,450
Enterprise User - $8,450

Special Pricing & Discounts

Avail customized purchase options to meet your research needs:

  • Buy sections of this report
  • Buy country level reports
  • Request for historical data
  • Request discounts available for Start-Ups & Universities

Why Choose Us

  • Research support

    24/5 Research support

    Get your queries resolved from an industry expert. Request for a free product review before report purchase.

  • Custom research service

    Custom research service

    Speak to the report author to design an exclusive study to serve your research needs.

  • Quality assurance

    Quality assurance

    A testimonial for service excellence represented in the form of BBB "A" Accreditation.

  • BBB Rating dandb
  • Information security

    Information security

    Your personal and confidential information is safe and secure.

  • BOA