Savory ingredients are added to cuisines to enhance their taste, flavor, and aroma. They are also known as unami flavors, which provides pleasant taste to the food. Major factor driving growth of the global savory ingredients market is increasing demand for convenient food among consumers. However, stringent government regulations on usage of savory ingredients is a factor that could affect revenue growth of the target market.
The global savory ingredients market has been segmented on the basis of type, origin, form, application, and region. On the basis of type, the market is segmented into nucleotides, yeast extracts, monosodium glutamate, hydrolyzed vegetable protein, and others. Yeast extracts segment expected to account for lucrative growth in terms of revenue in the global market, owing to increasing demand for natural flavors.
On the basis of origin, the market is segmented into synthetic and natural. Natural segment is expected to witness high growth in terms of revenue over the forecast period. Increasing inclination of consumer towards natural products as they don’t contain chemicals is major factor expected to support revenue growth of this segment. On the basis of form, the market is segmented into powder, liquid, and others. On the basis of application, the market is segmented into feed and food.
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Based on the region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Market in Asia Pacific expected to dominate the global market in terms of revenue growth over the forecast period. Growing demand for ready-to-eat food, coupled with increasing number of food processing companies in countries such as China, India, Japan, South Korea are factors fueling growth of the global market in this region. Market in Europe is expected to lucrative growth in terms of revenue in the near future, followed by North America.
Key players operating in the global savory ingredients market include Ajinomoto Co., Inc., Koninklijke DSM N.V., Kerry Group plc, Tate & Lyle PLC, Givaudan SA, Symrise AG, Lesaffre et Compagnie, SA, Sensient Technologies Corporation, Angel Yeast Co., Ltd., and Vedan International (Holdings) Limited.