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Food and Beverages

Global Savoury Ingredients Market R...

Historical and Forecast Market Trends

2018-32

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The savoury ingredients industry is driven by the growing utilisation of these ingredients to prepare frozen food products. Frozen foods with savoury ingredients not only taste good but also have increased shelf life. Thus, the increasing inclination of people towards convenience foods with longer shelf life has been aiding the market growth. Additionally, the demand for savoury ingredients is expected to increase due to the easy availability of convenience food through online platforms such as Amazon.com, Inc. (NASDAQ: AMZN). In terms of region, the Asia Pacific is likely to account for a significant share of the market and is anticipated to witness a considerable growth in the forecast period. The market is expected to be driven by the growing food industry and the rising middle-class population in the region.

The key industry players are focusing on mergers and acquisitions to expand their global footprint. In October 2021, Royal DSM (AMS: DSM) announced the complete acquisition of First Choice Ingredients, a leading supplier of dairy-based savoury flavourings. The acquisition is expected to aid both the companies with their comprehensive know-how, further allowing DSM to accelerate the growth of First Choice Ingredients outside the United States by extending latter’s portfolio to its broad global customer base. Such developments are expected to positively impact the market growth in the forecast period.

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Market Breakup by Source, Type, Application, and Region:

  • The market is segmented based on source into natural and synthetic.
  • By type, the market is divided into yeast extract, starch, hydrolysed vegetable protein, hydrolysed animal protein, nucleotides, and monosodium glutamate, among others.
  • The different applications of the product include ready meals, snacks, and feed, among others.
  • Region-wise, the global market for savoury ingredients can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for savoury ingredients is being driven by the growing utilisation of these ingredients for ready meals and snacks. 
  • The increasing inclination towards frozen foods is likely to provide impetus to the market.
  • The thriving food and beverage industry in emerging economies is expected to further augment the market.
  • The market is expected to be aided by the growing demand for food with natural aroma and flavours.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for savoury ingredients for the periods (2018-2023) and (2024-2032).
  • The report also offers historical (2018-2023) and forecast (2024-2032) market information for the sources, types, applications, and regions of savoury ingredients.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global savoury ingredients market are Associated British Foods plc, Ajinomoto Co., Inc., Givaudan SA, Koninklijke DSM N.V., and Symrise AG, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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