Global Savory Ingredients Market
The global Savory Ingredients market was valued at USD 6.43 billion in 2016 and is projected to reach USD 10.33 billion by 2025, growing at a CAGR of 5.4% from 2017 to 2025.
Savory Ingredients demand is majorly driven by the demand for savory snacks. The introduction of healthy savory snacks is expected to augment market demand over the forecast period. The market growth is aided by new product innovation by industry participants.
1. Market Drivers
1.1 Introduction of new product variants
1.2 Rising demand for convenience foods
2. Market Restraints
2.1 Stringent regulations
2.2 Problems related to ill effects of consumption of savory snacks
The global Savory Ingredients market is segmented on the origin, type, application, and region.
1. By Type:
1.1 Hydrolyzed Animal Protein
1.2 Hydrolyzed Plant Protein
1.3 Monosodium Glutamate
1.4 Yeast Extracts
2. By Application:
3. By Origin:
4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
The major players in the market are as follows:
1. Vedan International Limited
2. Kerry Group PLC
4. Lesaffre Group
5. Angelyeast Co. Ltd.
6. Ajinomoto Co. Inc.
7. Symrise AG
8. Sensient Technologies Corporation
9. Koninklijke DSM NV
10. Tate and Lyle PLC
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Savory Ingredients market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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