Market Size:
The global savory ingredients marketsize was valued at USD 7.25 billion in 2018 and is projected to reach USD 19.12
billion by the end of 2032, exhibiting a CAGR of 7.34% in the forecast period
based on our analysis in the existing report.
The rising uptake for savoryingredients has resulted from the high demand for variety in flavors in food
products across the world. There are several ongoing research studies, vested
in research and development of savory ingredients manufactured in accordance
with the regulatory compliances. Leading companies are increasing R&D
activities for the development of ingredients according to taste and flavor
preferences based on regional demographics. Fortune Business Insights states
that the demand for savory ingredients is inclined towards Japan and China, with
Japanese cuisines holding a massive potential for savory ingredients.
Additionally, the advancements in ingredient solubility methods such as
encapsulation and powdered form will contribute to the increasing demand for
savory ingredients. The increasing demand will favor the growth of the global
savory ingredients market in the forthcoming years.
Symrise’s Launch of CleanLabelled Culinary Base Products Will Enable Market Growth
The demand for clean labelledproducts has resulted from increasing health awareness across the world. In the
wake of an outcry for clean-labelled products, many companies are adapting to
this strategy. This factor will help the company acquire a strong consumer
base, which in turn will favor growth of the global savory ingredients market.
In 2018, Symrise Flavor N.A. introduced an extensive line of culinary base
ingredients with clean-labelled packaging. The company stated that its latest
collection includes a wide range of vegetables and spices, thereby pertaining
to a widespread audience. Fortune Business Insights states that the launch of
products within the clean-label regulatory framework will aid the growth of the
global savory ingredients market.
KEY COMPANIES COVERED IN THE REPORT
· AjinomotoCo., Inc.
· KoninklijkeDSM N.V.
· KerryGroup PLC
· Tate& Lyle PLC
· SymriseAG
· GivaudanSA
· SensientTechnologies Corporation
· SavourySystems International LLC
· P.Ingredients Ltd.
· SynergyFlavors
Kerry Group’s DualAcquisition Will Boost the Global Market
The demand for savory ingredientshas risen significantly in recent years due to changing lifestyle dietary
habits. The savory ingredients are being used for the manufacture of healthy
foods as well as vegan-based diets, to enhance overall taste of the food
products. Resulting from the soaring demand, companies are engaged in
attractive business strategies and are conducting mergers and acquisitions,
company collaborations, and agreements. In December 2018, Kerry Group announced
that it plans to acquire two renowned food companies for a combined total of
over US$ 300 Mn. Kerry Group’s plans to acquire Ariake Japan Co. and
Southeastern Mills (SEM), with an aim of expanding its clean-label product
distribution to several countries across the world. The report identifies a few
of the leading company mergers and acquisitions that have accounted for growth
of the global savory ingredients market. Besides mergers and acquisitions, the
report includes several factors that have made growth contributions to the
global market.
Fortune Business Insights haslabelled some of the leading companies that have made a positive impact on the
global savory ingredients market. Some of the companies that have made
significant growth contributions to the global market are Ajinomoto Co., Inc.,
Koninklijke DSM N.V., Kerry Group PLC, Tate & Lyle PLC, Symrise AG,
Givaudan SA, Sensient Technologies Corporation, Savoury Systems International
LLC, C.P. Ingredients Ltd., and Synergy Flavors.
KeyIndustry Development:
- In January 2018, Symrise AG introduced clean-label culinary bases in response to the growing consumer
demand for products with cleaner labels. - In December 2018, Kerry Group enhanced its food service capabilities by acquiring Ariake U.S.A., Inc., a
company specializing in the production of natural seasonings, including
natural clean label savory taste solutions.
