San Francisco, 13 December 2018 , Savory Ingredients Market Analysis By
Product (Yeast Extracts, Hydrolyzed Vegetable Proteins (HVP), Hydrolyzed Animal
Proteins (HAP), Monosodium Glutamate (MSG), Nucleotides), By Application (Food,
Pet Food) And Segment Forecasts To 2024
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.
Access Full
Research Report On Savory
Ingredients Analysis:
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.
Browse More Reports Of This
Category By Grand View Research At: www.grandviewresearch.com/industry/nutraceuticals-functional-foods-and-dietary-supplements
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
o
U.S.
o
Canada
o
Mexico
·
Europe
o
Germany
o
Italy
o
UK
o
France
·
Asia Pacific
o
China
o
India
o
Japan
·
Central & South America
o
Brazil
·
Middle East & Africa
o
South Africa
Access Full Press Release of this Report:
www.grandviewresearch.com/press-release/global-savory-ingredients-market
www.grandviewresearch.com/press-release/global-savory-ingredients-market
About Grand View Research
Grand View
Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, 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 healthcare.
For more information: www.grandviewresearch.com/
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