Savory ingredients Market by Type, Application, Origin, form, and Region - Global Forecast to 2022
NEW YORK, Nov. 8, 2016 /PRNewswire/ -- "Savory ingredients market is projected to grow at a CAGR of 5.61%."
The savory ingredients market is projected to reach a value of USD 8.46 billion by 2022 growing at a CAGR of 5.61% from 2016. The market is driven by factors such as increase in consumption of ready-to-eat, ready-to-cook food, noodles, soups, and increase in demand for Umami flavor. The major restraints of the savory ingredients market include increasing awareness regarding health issues and stringent regulations.
"The yeast extracts segment is projected to be fastest growing from 2016 to 2022."
The addition of yeast extracts enhances the flavor as well as nutritional content of the food. Also, the demand for yeast extracts is increasing owing to its natural origin and consumers' shift towards the use of natural ingredients.
"The powder segment is projected to be the largest segment from 2016 to 2022."
The powder form is preferred for savory ingredients due to its ease of handling & mixing with the other ingredients. While the demand for liquid segment is growing due to the increased demands for soup pastes and bouillon.
"Asia-Pacific is projected to be the fastest-growing from 2016 to 2022."
The demand for savory ingredients is driven by the increase in consumption of Umami flavor and readymade food, owing to increasing per capita income of the consumers in the emerging countries such as India of the Asia-Pacific region. The demand for savory ingredients in this region is driven by the growth in population, rise in disposable incomes, progressive urbanization, and an increase in the demand for variety of food products.
The breakdown of primaries on the basis of company, designation, and region conducted during the research study, are as follows:
By Company Type: Tier 1 – 20%, Tier 2 – 45%, and Tier 3 – 35%
By Designation: Director level – 22%, C Level –28%, and Others– 50%
By Region: North America – 18%, Europe – 25%, Asia-Pacific – 45%, and RoW – 12%
Major players are as follows:
- Koninklijke DSM N.V. (Netherlands)
- Ajinomoto Co., Inc. (Japan)
- Kerry Group plc (Ireland)
- Tate & Lyle plc (U.K.)
- Givaudan (Switzerland)
Other players that also have a strong presence in this market are as follows:
- Lesaffre (France)
- Symrise AG (Germany)
- Sensient Technologies Corporation (U.S.)
- AngelYeast Co., Ltd. (China)
- Vedan International (Holdings) Limited (Hong Kong).
This report categorizes the global market for savory ingredients on the basis of type, application, form, origin, and region. In terms of insights, this research report has focused on industry analyses and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging & high-growth segments of the global savory ingredients market; high-growth regions, countries, and their respective regulatory policies; government initiatives; and drivers, restraints, and opportunities.
Key benefits of buying this report
- Analyses of the global savory ingredients market, with region-specific assessment and competition analysis
- Market definition along with the identification of key drivers and restraints
- Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and key companies that can influence this market on a global and regional scale
- Extensively researched competitive landscape section with profiles of major companies
- Identification and analysis of the microeconomic indicators that affect the savory ingredient market on global and regional levels
A comprehensive list of key market players, along with the analysis of their current strategic interests and key financial information
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