Shifting Consumer Preferences Towards Exotic Flavor Drives the Savory Ingredients Market Growth

Wed, 23 September 2020 1:24

The savory ingredients market is witnessing significant growth on account of various advancements in food technology and the development of new flavor and ingredients. Several global players are now focusing on savory ingredients owing to the shifting consumer preferences towards exotic flavor and taste. For instance, DSM is offering its savory products in almost every category, including meat analogs and meat products, snacks, soups, sauces, noodles, ready meals, and bouillons, among others. Similarly, in 2020, Mercato Partners launched Savory, a USD 90 million fund, focused on fueling fast-casual restaurant concepts. In addition, various global flavors manufacturers such as Givaudan is capaciously increasing their savory ingredients line owing to the increasing consumer demand for the savory foods as nowadays there’s a buzz about savory taste that is adding excitement to the food products and leading to innovative ingredient developments.

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Savory Ingredients Market: Industry News

  • In November 2019, Tate & Lyle a leading food and beverage ingredients provider opened new and expanded Latin American headquarters and application centers in Brazil. This application center includes a pilot plant and a state-of-the-art experimental kitchen. The new application center is aimed to provide tastier, healthier, and innovative products to the consumer world including savory ingredients.
  • In October 2018, Kerry Group has announced that it has done a deal to acquire AATCO Food Industries LLC (a culinary sauces manufacturer) and Fleischmann’s Vinegar Company Inc., (specialty ingredients manufacturer) worth USD 417 million. This acquisition was aimed to expand Kerry’s existing product portfolio including savory ingredients and to strengthen its foodservice and positioning in the emerging markets.
  • In November 2019, Royal DSM, a global leader in the savory ingredient market, has acquired AVA (a US-based personalized nutrition platform).

Key Players

  • Ajinomoto Co., Inc. (Japan)
  • Koninklijke DSM N.V. (the Netherlands)
  • Kerry Group PLC (Ireland)
  • Tate & Lyle PLC (the U.K.)
  • AngelYeast Co., Ltd. (China)
  • Cargill Incorporated (the U.S.)
  • Sensient Technologies Corporation (the U.S.)
  • ABF Ingredients (OHLY) (Germany)
  • Vinayak Ingredients India Pvt Ltd. (India)
  • Vedan International (Holdings) Limited (Hong Kong)
  • Givaudan (Switzerland)
  • Lesaffre Group (France)
  • ADM (the U.S.)
  • Symrise (Germany)
  • Synergy Flavors (the U.S.)
  • Halcyon Proteins Pvt. Ltd. (Australia)
  • Novozymes (Denmark)
  • Food Chem International (China)
  • The Fufeng Group (China)
  • Meihua Holdings Group Co., Ltd. (China)

Savory Ingredients Market: Segmentation

By Type

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

By Form

  • Powder
  • Liquid

By Source

  • Natural
  • Conventional

By Application

  • Food (Soup, Snacks, Meat)
  • Feedstuff

By Region

North America

  • The U.S.
  • Canada
  • Mexico

Europe

  • Germany
  • France
  • The U.K.
  • Italy
  • Spain
  • The Netherlands
  • Russia
  • The Rest of Europe

Asia-Pacific

  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Malaysia
  • Singapore
  • Vietnam
  • The Rest of Asia Pacific

Central and South America and the Caribbean

  • Brazil
  • Argentina
  • Colombia
  • The Rest of Central and South America and the Caribbean

The Middle East

  • Saudi Arabia
  • The UAE
  • Oman
  • Bahrain
  • The Rest of the Middle East

Africa

  • Nigeria
  • South Africa
  • Ghana
  • Tanzania
  • The Rest of Africa

" Crucial Insights The Report Provides:"

* Known and Unknown Adjacencies Influencing the Growth of Market

* Explorable Revenue Sources

* Customer Behaviour Analysis

* Target Partners

* Customized Geographical Data Based on Customers as well as Competitors

* Analysis of Market Size and CAGR between the Forecast Periods

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