Savory ingredients are flavors that are basically added during the preparation of food especially snacks and processed food. They are basically added to enhance the smell and taste of the food as it offers pleasant aroma. These ingredients can be extracted naturally and prepared synthetically. They are also used as stabilizers, emulsifiers, and thickening agents as they are cost-effective. Savory ingredients are also used to produce wine, bread, and beer because they are rich in vitamin B complex, valuable nucleotides, and amino acids which enhances the flavors. They can be classified into soy sauce powder, hydrolyzed animal protein, yeast extracts, monosodium glutamate, hydrolyzed vegetable protein, and nucleotides. They are widely available in powder, paste, liquid, and spray form.

The Asia-pacific savory ingredients market was estimated to be valued around US$ 5.5 billion in terms of revenue in 2018 and is predicted to grow at a CAGR of 5.9% during the forecast period (2019 to 2027)

Drivers

Shifting preferences of people for convenience food in the Asia-Pacific region is fueling the demand for a savory ingredient, which in turn propelling the market growth over the forecast period. This is attributed to changing lifestyle and hectic work schedules which is encouraging to opt for convenience and packaged foods in countries in the Asia-Pacific region. This is expected to propel the market growth of savory ingredients over the forecast period.

Market Opportunities

Growth in the instant noodle industry in the Asia-Pacific region is expected to offer numerous growth opportunities to the market of savory ingredients over the forecast period. According to the Economic Times, instant noodle brand Yippee crossed the US$ 13.32 billion sales mark in 2018 September, in turn taking mother brand Sunfeast’s annual sales to US$ 53.26 billion. Hence, growth in instant noodle industry in the Asia-Pacific region is propelling the market growth of savory ingredients.

Market Restraints

Strict regulation regarding the consumption of savory ingredients is expected to hinder the market growth over the forecast period. According to International agencies such as Food Standards Australia New Zealand (FSANZ), US Food and Drug Administration (FDA) and World Health Organization (WHO), consumption of MSG in limited amounts is safe. Moreover, conclusions by the FDA along with the Federation of American Societies for Experimental Biology (FASEB) upon examination of safe consumption volumes of MSG indicate that food containing MSG up to 0.5 grams is safe.

Key Takeaways

On the basis of application, food dominated the Asia Pacific savory ingredients market in 2018 with around 66% of market share in terms of revenue, followed by pet food and others, respectively.

Market Trends

Many manufacturers are introducing innovative flavor and ingredient for savory manufacturers and this trend is expected to augment the market growth of savory ingredients. For instance, in November 2019, Royal DSM has launched MaxaGourmet, a new portfolio of clean label taste ingredients, at FI Europe. This new range - developed using foodstuffs that consumers are familiar with, such as herbs and vegetables - allows savory food manufacturers, flavor houses and seasoning producers to create products with an adventurous and authentic taste profile by providing distinctive flavor notes and adding taste complexity.

Growing production of flavors due to rising demand across consumer is expected to propel the market growth of savory ingredients over the forecast period. For instance, in February 2019, Givaudan, the flavor and fragrance Company, inaugurated a new Flavours manufacturing facility in Pune, India. The CHF 60 million plants are the Company's largest investment in India and further proof of its commitment to leverage growth potential in the Asia Pacific.

Competitive Section:

Key players operating in the Asia-pacific savory ingredients market Angel Yeast Co., Ltd, AB, Mauri Food Inc., Ajinomoto Co., Inc., Foodchem International Corporation, The Fufeng Group, Halcyon Proteins, Sensient Technologies Corporation, Royal DSM, Lesaffre (Biospringer), and ABF Ingredients (Ohly)

Few Recent Developments

Angel Yeast Co., Ltd.

  • In May 2016, the company participated in an exhibition called Food Ingredients Istanbul, where it promoted its yeast extract, which included Natural UMAMI taste, KOKUMI taste, pure flavor, sodium & sugar reduction, and clean label. This enhanced the company’s brand influence in the market in Istanbul.
  • In July 2016, the company launched semi-dry yeast at Fipan held in Brazil. This product ensures optimum stability of yeast activity in frozen dough. 

AB Mauri Food Inc.

  • In February 2016, company launched its product line of cereal ferments called Aromaferm, which is a mix of liquid and powder products, which would give an enhanced texture, flavor and extended shelf life to the finished baked goods

Market Taxonomy

By Product Type

  • Yeast Extract
  • Monosodium Glutamate
  • Hydrolyzed Vegetable Protein
  • Hydrolyzed Animal Protein
  • Nucleotides and Others

By Form

  • Liquid
  • Powder
  • Paste

By Application

  • Food
    • Dips & Soups
    • Instant Noodle & Sauces
    • Meat & Seafood
    • Bakery Products & Savory Snacks
  • Pet Food
  • Others 

By Region

  • China
  • India
  • Japan
  • ASEAN
  • Australia & New Zealand
  • Rest of Asia-Pacific
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