Savory Ingredients Market to Reach $11.2 Billion by 2027 Driven by Archer Daniels Midland and Kerry Group PLC
WILMINGTON, NEW CASTLE, DELAWARE 19801 USA, UNITED STATES, June 26, 2024 /EINPresswire.com/ -- The savory ingredients market, valued at $7.2 billion in 2019, is projected to soar to $11.2 billion by 2027, with a robust CAGR of 7.70%. This meteoric rise is fueled by a confluence of factors, including the growing awareness of health and wellness, the quest for authentic flavors, and the expanding disposable income in emerging economies.
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Introduction: In the culinary universe, where taste reigns supreme, savory ingredients play a vital role in elevating flavors and creating culinary masterpieces. The global savory ingredients market is witnessing an unprecedented surge, driven by evolving consumer preferences, technological innovations, and burgeoning demand for natural and organic products.
Catering to Consumer Preferences: In an era defined by health-conscious consumers, the demand for organic and natural products is skyrocketing. Manufacturers are capitalizing on this trend by innovating and incorporating organic ingredients into their savory offerings. From organic seasonings to natural flavor enhancers, the market is witnessing a paradigm shift towards cleaner labels and wholesome ingredients.
Technological Innovations Driving Growth: Innovation is at the heart of the savory ingredients market. Manufacturers are adopting cutting-edge technologies to optimize costs, enhance product quality, and extend shelf life. From starch formulations to advanced processing techniques, these innovations are reshaping the industry landscape and propelling market growth.
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Rise of Ready-to-Eat Convenience: The hustle and bustle of modern life have fueled the demand for convenience foods. Savory ingredients play a crucial role in enhancing the flavor, aroma, and shelf life of ready-to-eat and ready-to-cook products. From shelf-stable snacks to refrigerated meals, these flavor enhancers are the secret ingredients behind the convenience food revolution.
Navigating Regulatory Challenges: While the savory ingredients market is poised for exponential growth, regulatory challenges loom on the horizon. Concerns over synthetic additives and artificial flavors have prompted governments to enact stringent regulations. While these regulations aim to safeguard consumer health, they pose challenges for market players navigating compliance and innovation.
๐๐ฒ ๐๐จ๐ฎ๐ซ๐๐
โข Natural
โข Synthetic
๐๐ฒ ๐๐ฒ๐ฉ๐
โข Yeast Extract
โข Starch
โข Hydrolyzed Vegetable Protein
โข Hydrolyzed Animal Protein
โข Nucleotides
โข Monosodium Glutamate
โข Others
๐๐ฒ ๐๐ฉ๐ฉ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง
โข Ready Meals
โข Snacks
โข Feed
โข Others
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Key Findings of the Study
- Based on type:
- Soundbar & home cinema segment has the highest Savory Ingredients market share
- Expected to grow at a CAGR of 9.23% from 2020 to 2027
- By technology:
- Built-in multiroom led the market in terms of value in 2020
- Estimated to grow at a CAGR of 8.18% from 2020 to 2027
- Depending on the distribution channel:
- Specialty electronic stores segment is expected to grow at a steady CAGR of 8.51% from 2020 to 2027
The key companies profiled in the savory ingredients industry include
- Archer Daniels Midland Company
- Kerry Group PLC
- Tate & Lyle
- Sensient Technologies Corporation
- Koninklijke DSM N.V.
- AngelYeast Co., Ltd
- Ajinomoto Co., Inc.
- Givaudan S.A.
- Symrise AG
- ABF Ingredients
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