savory ingredients market
The Savory Ingredients Market was valued at $8.62 billion in 2023 and is expected to grow to $9.07 billion in 2024. By 2031, the market is predicted to reach $13.38 billion, with a steady CAGR of 5.7% over the forecast period from 2024 to 2031.n
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What Are the Key Factors Driving the Savory Ingredients Market to Reach $13.38 Billion by 2031?
Savory Ingredients Market - 2024-2031 Meticulous Research , a leading market intelligence firm, has published its latest report, "Savory Ingredients Market Global Opportunity Analysis and Industry Forecast (2024 2031)". According to the report, the savory ingredients market is poised to grow significantly, reaching $13.38 billion by 2031 at a CAGR of 5.7% from 2024 to 2031. Request For Sample Report: https://www.meticulousresearch.com/request-sample- report/cp_id=6031? Market Growth Drivers: The growth in the savory ingredients market is being driven by: Rising demand for convenience foods as consumers seek ready-to-eat options for their fast-paced lifestyles. Shift towards healthier alternatives, with a growing preference for naturally sourced savory ingredients. Increasing applications of savory ingredients in diverse food categories, including sauces, snacks, and baked goods. However, challenges such as high raw material costs and stringent regulatory requirements are restricting market expansion. Opportunities and Trends: Emerging economies in Asia-Pacific, Latin America, and the Middle East & Africa provide lucrative opportunities for market players. Additionally, the rising demand for functional ingredients and clean-label products highlights a significant trend shaping the market. Key Players Driving Innovation: The competitive landscape features a mix of global and regional players, including: Ajinomoto Co., Inc. (Japan), AngelYeast Co., Ltd. (China), Kerry Group plc (Ireland), Vedan International (Holdings) Limited (Hong Kong), Sensient Technologies Corporation (U.S.), Tate & Lyle PLC (U.K.), Archer-Daniels-Midland Company (U.S.), DSM-Firmenich AG (Switzerland), Givaudan SA (Switzerland), Associated British Foods plc (U.K.), Lesaffre (France), Synergy Flavors, Inc. (U.S.), Ohly GmbH (Germany), and SPAC Starch Products (India) Private Limited (India). These companies are investing in product innovation, catering to the growing demand for natural and functional savory ingredients. Key Segment Insights Ingredient Type: The monosodium glutamate (MSG) segment is expected to dominate, accounting for 55.4% of the market in 2024. Its cost-effective flavor-enhancing properties and widespread use in processed foods drive this growth. Source: Synthetic savory ingredients are set to maintain a significant market share due to their enhanced stability and cost-effectiveness compared to natural options. Form: The powder segment leads the market with its versatility, longer shelf life, and uniform flavor distribution. Page 1 of 2 Meticulous Research| sales@meticulousresearch.com
Savory Ingredients Market - 2024-2031 Application: The food & beverages segment dominates, supported by evolving lifestyles and the growing popularity of international cuisines. Regional Outlook: Asia-Pacific leads the market, with an anticipated market share of 62.9% in 2024. Factors such as rapid urbanization, expanding food processing industries, and the popularity of international cuisines drive growth in this region Buy Now: https://www.meticulousresearch.com/Checkout/62875906? About Meticulous Research Meticulous Research was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to detail. With meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth. Contact Us: Meticulous Research Email- sales@meticulousresearch.com Contact Sales- +1-646-781-8004 Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research Page 2 of 2 Meticulous Research| sales@meticulousresearch.com
