The global savory ingredients market is expected to reach USD 15.62 billion by 2030, according to a new report by Grand View Research, Inc. exhibiting a CAGR of 4.7% during the forecast period. 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.

Access the Savory Ingredients Market Size, Share & Trends Analysis Report By Product, By Source, By Form, By Application, By Region, And Segment Forecasts, 2024 – 2030

Savory Ingredients Market Report Highlights

·        The natural segment dominated the market with 64.6% share in 2023. One of the main factors driving the rise in demand for natural savory ingredients is the growing awareness of consumers towards their health.

·        The powder segment dominated the market with a share of 41.9% in 2023. This is mainly owing to the ease and flexibility it offers.

·        The food segment dominated the market with a share of 66.1% in 2023. Modern consumers are showing a growing interest in discovering different flavors and experiences when making food decisions.

·        Asia Pacific dominated the global savory ingredients market with a share of 72.2% in 2023.

Key Savory Ingredients Company Insights

Some of the key companies in the global savory ingredients market include Ajinomoto Co., Inc.; Angel Yeast Co., Ltd.; Sensient Technologies Corporation, and Tate & Lyle. Vendors in the market are focusing on increasing customer base to gain a competitive edge in the industry. Therefore, key players are taking several strategic initiatives, such as mergers and acquisitions, and partnerships with other major companies.

Angel Yeast Co., Ltd., is a major producer of yeast located in Yichang, Hubei Province, China. The company focuses on making different kinds of yeast and yeast-based products for use in the food, beverage, pharmaceutical, and chemical sectors.

Kerry Group plc. is a global company that specializes in ingredients and flavors, with its main offices located in Tralee, Ireland. The company is now a prominent player in the taste and nutrition sector, particularly concentrating on savory components. Kerry Group functions through two main business divisions: Taste & Nutrition and Consumer Foods.

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Key Savory Ingredients Companies:

The following are the leading companies in the savory ingredients market. These companies collectively hold the largest market share and dictate industry trends.

·        Ajinomoto Co., Inc.

·        Angel Yeast Co., Ltd.

·        Vedan International (Holdings) Limited.

·        Kerry Group plc.

·        Sensient Technologies Corporation,

·        Givaudan 2024

·        DIANA Group

·        Symrise

·        Lesaffre

·        Tate & Lyle

About Grand View Research:

Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies, ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials, and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit www.grandviewresearch.com

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