Savory Ingredients Market Drivers, Trends, and Forecast by 2031

The savory ingredients market is expected to register a CAGR of 5% during 2023–2031. Growing demand for natural and clean-label products are likely to remain a key trend in the market.

Savory Ingredients Market Analysis

• The market is mainly driven by the rising demand for packaged ready-to-eat foodstuffs. This can be attributed to the shifting dietary preferences, chaotic schedules led by the increased population and the inflating disposable income levels, which have further led to the widespread demand for convenience foods across the world.
• Moreover, the shifting demand of consumers towards buying clean label and natural products due to the growing awareness about the harmful effects of artificial ingredients is also positively impacting the market.
• Furthermore, several key players are severely investing in the introduction of improved product alternates with better taste to meet the varying consumer preferences.
• The demand is anticipated to upsurge in the upcoming years due to the increasing interest in pastry kitchen stuffs. Developments in the savory ingredients industry are also likely to positively influence the global savory ingredients market.

Savory Ingredients Market Overview

• Savory ingredients including condiments, seasonings, flavour enhancers, and chips and crackers are vital elements that contribute to the flavour of a variety of foods, including frozen dinners, frozen snacks, and instant noodles.
• The growing number of health-conscious customers who choose low-fat foods in their diet is driving the market growth for savory ingredients.
• Additionally, due to rising urbanization, there has been a considerable upsurge in the popularity of East Asian foods worldwide, wherein savory ingredients form a vital part of food preparation.
• Some of the other factors driving the market growth include favourable regulatory supports and the mounting demand for bakery products among people.

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Savory Ingredients Market Drivers and Opportunities

Rising Demand for Packaged Instant Food Products

• The fast-paced lifestyles and desire for convenient, ready-to-eat meals have resulted in a higher consumer demand for packaged instant food products.
• These products utilize savory ingredients to elevate their flavour and create the savory profiles that consumers crave.
• Ready meals, snacks, and soups, among others, heavily depend on these savory ingredients to achieve their desired taste profiles.
• The convenience and simplicity of preparing packaged instant food products have contributed to their increased popularity, consequently driving the growth of the savory ingredients market.

Increasing Popularity of Convenience Food Products

• Convenience food products have become increasingly popular among consumers due to their ease and speed of preparation.
• These products provide quick and convenient meal solutions that cater to the busy lifestyles of individuals. Savory ingredients play a vital role in elevating the flavour and taste of convenience food items, making them more enticing to consumers.
• As a result, there has been a rise in the usage of savory ingredients in the production of these food products.
• Given that consumers continue to seek convenient and time-saving food options, the demand for savory ingredients is expected to continue growing in the future.

Savory Ingredients Market Report Segmentation Analysis

Key segments that contributed to the derivation of the savory ingredients market analysis are deployment type and enterprise size.

• Based on type, the savory ingredients market is divided into monosodium, glutamate, yeast extracts, HVPS, HAPs, and nucleotides.
• On the basis of form, the market is divided into powder and liquid.
• Based on application, the market is divided into food and feed.

Savory Ingredients Market Share Analysis by Geography

• Savory Ingredients Market Report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
• Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering savory ingredients market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
• Also, the report covers PEST analysis, which involves the study of major factors that influence the savory ingredients market in these regions.

Savory Ingredients Market Regional Insights

The regional trends and factors influencing the Savory Ingredients Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Savory Ingredients Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Savory Ingredients Market Report Scope

Savory Ingredients Market Players Density: Understanding Its Impact on Business Dynamics

The Savory Ingredients Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Savory Ingredients Market are:

1. Givaudan
2. Lesaffre Group
3. ADM
4. Ajinomoto Co., Inc
5. Kerry Group plc
6. Ingredion Incorporated

Disclaimer: The companies listed above are not ranked in any particular order.

Savory Ingredients Market News and Recent Developments

The savory ingredients market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the savory ingredients market are listed below:

• Ajinomoto Co., Inc. announced today a global partnership agreement with esteemed Japan Para Swimming National Team athlete, Takayuki Suzuki. A seasoned competitor, Suzuki has graced five consecutive Paralympic Games, securing 10 medals, including two golds. Under the terms of this agreement, Ajinomoto will extend nutritional support to Suzuki, which includes the provision of the Ajinomoto Group's wide range of products. These include food items (seasonings, sweeteners, soups, etc.), amino acid-containing dietary supplements under the "aminoVital®" brand (powders, tablets, jelly drinks), frozen foods, and coffee beans. Through these offerings, Ajinomoto aims to fuel Suzuki's performance as he continues to make strides in his athletic career. (Source: Ajinomoto Co., Inc, Company Website, May 2024).
• To foster environmental preservation and sustainability, Cargill and the Global Water Challenge (GWC), a non-profit organization, today announced a ‘Holistic Rural Development’ project in Bhimsar village in Kandla, Gujarat. Together they have embarked on a transformative afforestation project covering 7.5 acres of land over three years in Bhimsar that will protect the biodiversity of plants, allowing sustenance of ecosystems. This project will be instrumental in improving soil quality, improved water table besides air quality improvement in Bhimsar and surrounding areas. Anarde Foundation, an NGO in Gujarat, as the implementation partner, will be planting and maintaining 3000 saplings throughout the project duration of three years. (Source: Company Website, Cargill, Incorporated, October 2023)

Savory Ingredients Market Report Coverage and Deliverables

The “Savory Ingredients Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Savory ingredients market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Savory ingredients market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Savory ingredients market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the savory ingredients market
• Detailed company profiles