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Global Savoury Ingredients Market to Grow at a CAGR of 7.8% During 2022-2027, Aided by the Growing Utilisation of these Ingredients to Prepare Frozen Foods

According to a new report by EMR titled, ‘Global Savoury Ingredients Market Report and Forecast 2022-2027’, the market attained a value of over USD 7.8 billion in 2021. The savoury ingredients industry is further expected to grow at a CAGR of 7.8% between 2022 and 2027 to reach a value of more than USD 12.20 billion by 2027.

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.

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 (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) 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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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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