The savory ingredients market is estimated to be valued at USD 7.2 billion in 2020 and is projected to reach USD 9.3 billion by 2025, recording a CAGR of 5.2% during the forecast period.
The demand for flavor enhancers witnessed a significant increase due to the availability of a variety of food choices for consumers. The demand for food consisting of different flavors is increasing at an exponential rate across the world. To meet this demand, highly cost-effective and innovative ways of producing flavors, which are added as flavor enhancers, are expected to propel the growth of the market.
The monosodium glutamate segment is projected to dominate the market, on the basis of type, during the forecast period. This is attributed to the cost-effectiveness and wide application areas of MSG in food and feed applications. MSG is a sodium salt of glutamic acid and is the most widely used savory ingredient. It is generally added to food to enhance the salty or sugary flavor, even though it is tasteless. MSG is widely used in frozen foods, spice mixes, canned & dry soups, salad dressings, and meat or fish-based products.
However, the growing awareness regarding the ill-effects of synthetic savory ingredients, such as MSG, is one of the key factors restricting the growth of this market in developed regions, where the consumers are more inclined toward natural ingredients such as yeast extracts.
Key players in this market include Ajinomoto Co., Inc. (Japan), Koninklijke DSM N.V. (Netherlands), Kerry Group PLC (Ireland), Tate & Lyle PLC (UK), AngelYeast Co., Ltd. (China), Givaudan (Switzerland), Lesaffre Group (France), ADM (US), Symrise (Germany), Synergy Flavors (US), Cargill (US), Sensient Technologies Corporation (US), ABF Ingredients (OHLY) (Germany), Vinayak Ingredients India Pvt Ltd. (India), Vedan International (Holdings) Limited (Hong Kong), The Fufeng Group (China), Meihua Holdings Group Co., Ltd. (China), Halcyon Proteins (Australia), Food Chem International (China), and Novozymes (Denmark).
