Savory Ingredients Market Comprehensive Outlook, Industry Trends, Key Venders by 2026
The Global
Savory Ingredients Market will expand at a considerable pace of 6.65% CAGR
between 2019 and 2026. In the coming years,
it is likely to gain impetus from the growing demand for new flavors and the ability of savory
ingredients to suffice these needs. According to a report published by Fortune
Business Insights, titled “Savory Ingredients: Global Market Analysis, Insights,
And Forecast, 2019-2026,” the market was valued at US$ 7.25 Bn
in 2018. Fortune Business Insights states that the market will reach US$ 11.94
Bn by 2026.
Some
of the Main Key Players Covered in the Report
- Ajinomoto Co., Inc.
- Koninklijke DSM N.V.
- Kerry Group PLC
- Tate & Lyle PLC
- Symrise AG
- Givaudan SA
- Sensient Technologies Corporation
- Savoury Systems International LLC
- P. Ingredients Ltd.
- Synergy Flavors
Symrise’s
Launch of Clean Labelled Culinary Base Products Will Enable Market Growth
The demand
for clean labeled products has resulted from increasing health awareness across
the world. In the wake of an outcry for clean-labeled products, many companies
are adapting to this strategy. This factor will help the company acquire a
strong consumer base, which in turn will favor the 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.
The rising
uptake for savory ingredients 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 by
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.
Kerry
Group’s Dual Acquisition Will Boost the Global Market
The demand
for savory ingredients has 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 the 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 the 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 has labelled some of the leading companies that have made a
positive impact on the global savory ingredients market.
Browse
Summary of this Report:
Comments
Post a Comment