Savory Ingredients Market Size, Outlook: Analysing the 5.6% CAGR and USD 17.0 Billion Projection by 2033

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Savory ingredients market size from USD 9.9 billion in 2023 to USD 17.0 billion in 10 years. The increasing disposable income drive the market’s growth. The market for savory ingredients may benefit from ongoing research and development initiatives to enhance production efficiency and optimize chemical processes.

Newark, June 18, 2024 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 9.9 billion savory ingredients market will reach USD 17.0 billion by 2033. Savory additives of savory ingredients are flavour enhancers which are widely used in the food and beverages industry to enhance the food products’ savory taste and scent. Some of the savory ingredients include starches, yeast extracts, hydrolyzed vegetable proteins (HVP), hydrolyzed animal proteins (HAP), and monosodium glutamate (MSG) as flavourful ingredients. Mostly these ingredients are used for producing seasonings, meat products, and instant and culinary food items. By using them, products have longer shelf lives and use less salt while preparing food. Consumers are selecting healthier options without compromising flavour or taste. Savory ingredients reduce fat content and maintain the sensory aspects of meals. This feature has raised customer acceptance of additives and aids in producing delicious, low-fat food products. Increased consumption of packaged and ready-to-eat foods has been fueled by rising disposable income, further propelling market expansion. Because of their hectic lifestyles, people in Asia-Pacific and North America are becoming more and more in need of ready-to-eat meals. Market expansion is driven by increased demand for savory ingredients that have been spray-dried to improve flavour and taste. However, the market’s expansion needs to be improved by rising health concerns and strict government laws banning overly packaged foods.

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Asia Pacific will account for the largest market size during the forecast period.

The demand for savory ingredients in the Asia-Pacific region is expected to grow during the forecast period owing to increase in disposable income and increasing craze of following social media trends. Furthermore, the market for savory ingredients in the region is also expected to be driven by the increasing urbanisation which increases the demand for packaged meals and Western cuisine, a stressful work environment, longer workdays, and a desire for healthier options. Furthermore, there is a growing need for savory ingredients due to the quick growth of retail food chains and the rising popularity of eating out.

The hydrolyzed vegetable protein (HVP) segment dominated the market with the most significant revenue of USD 2.47 billion.

The hydrolyzed vegetable protein (HVP) segment dominated the market, with the most significant revenue of USD 2.47 billion. Yeast extract and other product categories, such as savory spice and soy sauce powder, are gaining traction in the market for savory ingredients, which is driving the expansion of the hydrolyzed vegetable protein (HVP) market.

The liquid segment dominated the market with the most significant revenue of USD 5.84 billion.

The liquid segment dominated the market with the most significant revenue of USD 5.84 billion. Liquid savory ingredients are in higher demand than paste and dry ones since they are so easy to mix with other ingredients. Furthermore, several manufacturers of flavours and seasonings package their saline ingredients in liquid form to extend their shelf life.

The natural segment dominated the market with the most significant revenue of USD 5.54 billion.

The natural segment dominated the market with the most significant revenue of USD 5.54 billion. There is an increasing demand for organic and natural food among consumers, particularly is countries like Europe and North America. Owing to the increasing trend on social media for natural ingredients developing countries such as Asia-Pacific is also witnessing the growth in demand for natural savory ingredients.

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Market Dynamics:

Drivers: Increasing consumption of ready-to-eat products

There is an increasing demand for ready-to-eat foods like protein-rich soups, fast diet soups, and other convenience food products among the growing working-class population. Busy lifestyles and demanding schedules increase the demand for packaged food. This is expected to drive the market’s growth during the forecast period.

Restraint: Negative health effects

Consumers are becoming aware of the ingredients used in their food items and the effects of those ingredients on human health. Savory ingredients contain artificial flavourings like MSG, which has a negative effect on the health on consumers. Consumers prefer natural ingredients like yeast extract as savory ingredients. Thus, a growing consumer trend towards clean labelling and greater awareness of consuming natural and fresh foods hinders the market growth over the forecast period.

Opportunity: Advancement in food technologies

During the last few years, the demand for packaged and ready-to-eat food has increased drastically, which is expected to provide growth opportunities for the market during the forecast period. The increasing trend of cloud kitchens will also add impetus to the market growth during the forecast period. Furthermore, an increase number of health-conscious consumers who favour low-fat diets is an added advantage for the market’s growth.

Report Scope

Base Year 2023
Forecast period 2024-2033
Report Coverage     Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends
Regional scope Asia Pacific, Europe, South America, North America, and Middle East & Africa
Market Size(unit) USD 17.0 Billion
Data Warehousing Market CAGR 5.6%
Segments Covered Type, Form, Source

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Some of the major players operating in the savory ingredients market are:

● Angel Yeast Co., Ltd.
● Kerry Group Public Ltd Co
● GivaudanS.A.
● Royal DSM N.V.
● Tate & Lyle PLC
● Ajinomoto Co., Inc.
● Vedan International Holdings Ltd.
● Sensient Technologies Corporation
● DIANA Group
● Lesaffre Group

Key Segments covered in the market:

By Type:

● Yeast Extracts
● Hydrolyzed Vegetable Protein (HVP)
● Nucleotides
● Monosodium Glutamate
● Proteins
● Hydrolyzed Animal Protein (HAP)

By Form:

● Liquid
● Powder

By Source:

● Conventional
● Natural

About the report:

The global savory ingredients market is analyzed based on value (USD billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter’s five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

About The Brainy Insights:

The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirements whether they are looking to expand or planning to launch a new product in the global market.

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