Savoury Ingredients Market Growth, Market Insights and Forecast to 2025

Posted by rekha on December 2nd, 2019

“The Global Savoury Ingredients Market was valued at US$ 6,267.2 Mn in 2018 and is expected to grow at a significant CAGR over six years forecast period 2019-2025 owing to increasing instantaneous noodle industry”

Precision Business Insights (PBI) in its report titled “Global Savoury Ingredients Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2018 and Forecast 2019-2025” assesses the market performance over six years forecast period over 2019-2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.

The global savoury ingredients market was valued at US$ 6,267.2 Mn in 2018 and growing at a CAGR of 4.9% over the forecast period owing to rising adoption of convenience foodstuff and drastic changes in trends towards their lifestyles in emerging economies are dynamic factors drives the market. Additionally, increasing expenditure for preserved foods in developing countries, hectic work life coupled changes in food eating habits, growing demand for brews and ready-made foods are estimated to drive the growth of the market over the forecast period. However, increasing apprehensions on natural and fresh foods coupled with customers focusing on clean label and driving initiations such as “clean label movement” in developed and developing countries are anticipated to restrain the growth of savoury ingredients market.

Global savoury ingredients market segmented on the type, application, origin, and region.

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Yeast extracts segment accounted for higher revenue share

Based on type, global savoury ingredients market is segmented Hydrolysed vegetable protein, yeast extracts, nucleotides, monosodium glutamate, Hydrolysed animal protein, and others. Yeast extracts segment accounted for the largest market share in 2018 and is expected to grow with highest CAGR over the forecast period owing to increasing usage of yeast extracts in savoury ingredients. Hydrolysed vegetable protein is anticipated to grow with significant CAGR over the forecast period owing to increasing demand for vegetarian food ingredients in developing countries such as India and China etc.

North America holds leading position in Global Savoury Ingredients Market

PBI’s global savoury ingredients market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. According to regional analysis, North America is expected to account for larger revenue share in 2018 and the same trend is projected to follow over 2019-2025 owing to increasing demand for ready-to-eat and bakery products in the region due to busy work life and launch of new variety of products in the market continuously. Europe and Asia Pacific are expected to drive the growth of the market owing to increasing population coupled with changes in lifestyle and demand for bakery and confectionary foods coupled with increasing awareness regarding the hazardous health issues by the consumption of processed food.

Recent Developments in the Global Savoury Ingredients Market

• In November 2018, Givaudan, the global leader in flavors and fragrances, has launched MISTA, a new innovation platform for the food industry
• In June 2016, Frutarom Savoury Solutions, an ingredients manufacturer launched listeria fighting additive ingredient.

Key player’s profiles in the report are Givaudan (Switzerland). Ajinomoto Co., Inc. (Japan), Koninklijke DSM N.V. (Netherlands), Tate & Lyle plc (U.K.), Angel Yeast (China), Kerry Group plc (Ireland) to name some few.

Detailed Segmentation

By Type

o   Hydrolysed Vegetable Protein

o   Yeast Extracts

o   Nucleotides

o   Monosodium Glutamate

o   Hydrolysed Animal Protein

o   Others

By Application   

o   Convenience Food

o   Snacks

o   Frozen Savoury Food

By Origin  

o   Natural

o   Artificial  

Geography

o     North America

• U.S
• Canada

o     Europe

• Germany
• France
• U.K
• Italy
• Spain
• Russia
• Poland
• Rest of Europe

o     Asia-Pacific

• Japan
• China
• India
• Australia & New Zealand
• ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
• South Korea
• Rest of Asia-Pacific

o     Latin America

• Brazil
• Mexico
• Argentina
• Venezuela
• Rest of Latin America

o     Middle East and Africa (MEA)

• Gulf Cooperation Council (GCC) Countries
• Israel
• South Africa
• Rest of MEA

For More Information: https://www.precisionbusinessinsights.com/market-reports/global-savoury-ingredients-market/