Savory Ingredients Market Reach US$ 11.94 Bn Forecast (2019-2026)
Fortune Business Insights states that the demand for savory ingredients is inclined towards Japan and China, with Japanese cuisines holding a massive potential for savory ingredients. Additionally, the advancements in ingredient solubility methods such as encapsulation and powdered form will contribute to the increasing demand for savory ingredients. The increasing demand will favor the growth of the global savory ingredients market in the forthcoming years.
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The Global Savory Ingredients Market will expand at a considerable pace of 6.65% CAGR between 2019 and 2026. In the coming years, it is likely to gain impetus from the growing demand for new flavors and the ability of savory ingredients to suffice these needs. According to a report published by Fortune Business Insights, titled “Savory Ingredients: Global Market Analysis, Insights, And Forecast, 2019-2026,” the market was valued at US$ 7.25 Bn in 2018. Fortune Business Insights states that the market will reach US$ 11.94 Bn by 2026.
- MSG (Monosodium Glutamate)
By End User
- Food Processors
- Food Services (HoReCa)
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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SECONDARY DATA SOURCES THAT WE REFER TO:
- Annual reports, investor presentation, SEC filings, and press releases of companies operating in the market.
- Studies published by relevant associations (Institute of Food Technologists, Food and Drug Administration; Food and Agriculture Organization; Codex Alimentarius; etc.), government sources (World Bank; FoodDrinkEurope, Food Processing and Certification Bodies; etc.), international organizations (World Health Organization, The Organization for Economic Co-operation and Development, Eurostat, etc.), and articles published by Food Processing Magazine, Food Safety Magazine, ResearchGate, etc.
- Website, reports, and press releases of end user facilities Food and beverage manufacturers and food service providers.
- Industry journals and paid databases.
SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:
- Details such as revenues, market share, strategies, growth rate, product and their pricing by region/country for all major companies.
- Details in relation to the parent market/related market, value and supply chain analysis, distribution channels, trade analysis, and recent technological developments.
- Market dynamics in relation to the market under focus Drivers, restraints, trends, and opportunities.
- Market and technological trends and new product developments
Kerry Group’s Dual Acquisition Will Boost the Global Market
The demand for savory ingredients has risen significantly in recent years due to changing lifestyle dietary habits. The savory ingredients are being used for the manufacture of healthy foods as well as vegan-based diets, to enhance the overall taste of the food products. Resulting from the soaring demand, companies are engaged in attractive business strategies and are conducting mergers and acquisitions, company collaborations, and agreements.
In December 2018, Kerry Group announced that it plans to acquire two renowned food companies for a combined total of over US$ 300 Mn. Kerry Group’s plans to acquire Ariake Japan Co. and Southeastern Mills (SEM), with an aim of expanding its clean-label product distribution to several countries across the world.
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