Savory Ingredients Market Size, Share, Industry Trends and Forecast to 2033
This report provides an in-depth analysis of the Savory Ingredients market from 2023 to 2033, focusing on market size, trends, segmentation, and regional insights. Key data and forecasts will be discussed to outline growth opportunities and market dynamics.
| Metric | Value |
|---|---|
| Study Period | 2023 - 2033 |
| 2023 Market Size | $10.50 Billion |
| CAGR (2023-2033) | 4.2% |
| 2033 Market Size | $15.96 Billion |
| Top Companies | Mondelez International, Kerry Group, Givaudan, Firmenich, International Flavors & Fragrances (IFF) |
| Last Modified Date | 15 November 2024 |
Savory Ingredients Market Overview
What is the Market Size & CAGR of Savory Ingredients market in 2023?
Savory Ingredients Industry Analysis
Savory Ingredients Market Segmentation and Scope
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Savory Ingredients Market Analysis Report by Region
Europe Savory Ingredients Market Report:
The European market is anticipated to rise from 2.63 billion USD in 2023 to 4.00 billion USD in 2033. Trends towards health and wellness, alongside the growth in the organic food sector, play significant roles in the market's expansion.Asia Pacific Savory Ingredients Market Report:
The Asia Pacific region is forecasted to grow significantly, with its market size expected to rise from 2.26 billion USD in 2023 to 3.43 billion USD in 2033. The growth in this region is fueled by rapid urbanization, increasing disposable incomes, and a growing taste for multinational cuisines, driving demand for innovative savory flavors.North America Savory Ingredients Market Report:
North America is dominated by a mature market, expected to grow from 3.75 billion USD in 2023 to 5.71 billion USD in 2033. The region's preference for convenience foods and a well-established food service industry underline the robust demand within this segment.South America Savory Ingredients Market Report:
In South America, the Savory Ingredients market is projected to grow from 0.70 billion USD in 2023 to 1.06 billion USD by 2033. Key drivers include a growing food industry and increasing preference for ready-to-eat meals, which enhance the demand for flavor-packed savory ingredients.Middle East & Africa Savory Ingredients Market Report:
The Middle East and Africa market for savory ingredients is expected to grow from 1.16 billion USD in 2023 to 1.76 billion USD in 2033. Factors such as an increase in food exports and growing interest in culinary diversity contribute to the growing market.Request a custom research report for industry.
Savory Ingredients Market Analysis By Product
Global Savory Ingredients Market, By Product Market Analysis (2024 - 2033)
The market for savory ingredients can be detailed into segments like powders, liquids, and granules. In 2023, powders hold a significant share at 6.72 billion USD, with expected growth to 10.21 billion USD by 2033. Liquids follow, beginning at 2.56 billion USD in 2023 and expected to rise to 3.89 billion USD by 2033. Granules add 1.22 billion in 2023 with anticipated growth to 1.86 billion USD.
Savory Ingredients Market Analysis By Application
Global Savory Ingredients Market, By Application Market Analysis (2024 - 2033)
Applications such as food production, catering, and retail showcase substantial market footholds. Food production leads this segment by holding 63.97% of the market share, equating to a 6.72 billion USD valuation projected to grow to 10.21 billion USD by 2033. Catering holds a vital 24.38% share, projected to grow from 2.56 billion USD in 2023 to 3.89 billion USD, while retail contributes to 1.22 billion USD growing to 1.86 billion USD.
Savory Ingredients Market Analysis By Ingredient Type
Global Savory Ingredients Market, By Ingredient Type Market Analysis (2024 - 2033)
The market is segmented into natural and synthetic ingredients, with natural ingredients leading at an impressive market share of 85.29%. The revenue for natural ingredients stands at 8.96 billion USD with an expected rise to 13.62 billion USD by 2033. Synthetic ingredients account for 14.71% market share and are projected to grow modestly from 1.54 billion USD to 2.35 billion USD in the same period.
Savory Ingredients Market Analysis By Form
Global Savory Ingredients Market, By Form Market Analysis (2024 - 2033)
Savory ingredients in the form of vegetable-based, meat-based, and dairy-based ingredients exhibit varied market shares. Vegetable-based ingredients dominate at 6.72 billion USD, anticipated to reach 10.21 billion USD by 2033. Meat-based ingredients only slightly trail behind at 2.56 billion USD, expected to rise to 3.89 billion USD, while dairy-based variants display a smaller growth path from 1.22 billion USD to 1.86 billion USD.
Savory Ingredients Market Trends and Future Forecast
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Global Market Leaders and Top Companies in Savory Ingredients Industry
Mondelez International:
Mondelez is a leader in the savory snack market, offering a variety of flavor-enhancing ingredients that cater to consumer preferences for taste and quality.Kerry Group:
Kerry Group specializes in creating taste and nutrition solutions and is known for its innovative developments in the savory ingredients sector, focusing on sustainability.Givaudan:
A major player in the global flavor industry, Givaudan provides an extensive range of savory ingredients known for their quality and performance.Firmenich:
Firmenich is recognized for its expertise in both flavor and fragrance creation, offering a unique portfolio of savory taste solutions.International Flavors & Fragrances (IFF):
IFF develops innovative savory ingredients and is committed to creating sustainable solutions that improve the quality of food products.We're grateful to work with incredible clients.
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FAQs
What is the market size of savory Ingredients?
As of 2023, the global savory ingredients market is valued at approximately $10.5 billion, with a projected CAGR of 4.2% leading to increased market size by 2033.
What are the key market players or companies in this savory Ingredients industry?
The savory ingredients market is dominated by several key players including International Flavors & Fragrances Inc., Ajinomoto Co., Inc., and Givaudan. These companies are known for their innovation and product diversity.
What are the primary factors driving the growth in the savory ingredients industry?
Growth in the savory ingredients market is driven by increasing consumer demand for processed foods, a rising inclination towards flavor enhancement, and a growing trend for natural ingredients over synthetic ones.
Which region is the fastest Growing in the savory ingredients?
The fastest-growing region in the savory ingredients market is North America, with the market expected to expand from $3.75 billion in 2023 to $5.71 billion by 2033, reflecting strong consumer preferences and market dynamics.
Does ConsaInsights provide customized market report data for the savory ingredients industry?
Yes, ConsaInsights offers customized market report data tailored to specific needs within the savory ingredients industry, allowing detailed insights and analytics based on unique requirements.
What deliverables can I expect from this savory ingredients market research project?
From the savory ingredients market research project, expect comprehensive reports, market size analysis, trend forecasts, and actionable insights tailored for strategic decision-making.
What are the market trends of savory ingredients?
Emerging trends in the savory ingredients market include an increased focus on health claims, substitution of synthetic flavors with natural options, and growing consumer interest in regional and ethnic flavors.