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 increasing demand for processed and convenience food with blends of savory flavors drives the market growth for savory ingredients.
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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).
Ajinomoto Co., Inc. (Japan) is a key supplier, offering food products with savory flavors. Its focus is on becoming a specialty savory ingredient company, by growing sustainably via incorporating new foundational platforms into its technologies. It pursues competitive superiority by creating new demand and developing high-value-added and customized products based on client requirements.
Kerry Group PLC (Ireland) is a public registered company headquartered in Ireland and one of the leading developers, manufacturers, and distributors of savory ingredients. The company works in collaboration with brands, retailers, and packaging manufacturers to design circular economy solutions to maintain its market position.
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The Asia Pacific savory ingredients market is projected to have the fastest growth potential in the coming years. The large consumer market and increasing disposable incomes in India and China drive the demand for convenience & packed food products with enhanced savory flavors. Also, China and Japan are manufacturing hub for savory ingredients and have sufficient manufacturing plants to meet the demand for processed food products with blends of savory flavors. Rapid urbanization in countries such as India and China are expected to lead to the high growth of the savory ingredients market in Southeast Asia during the forecast period.
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