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ASIA PACIFIC SAVORY INGREDIENTS MARKET ANALYSIS

Asia Pacific Savory Ingredients Market, By Product Type (Yeast Extract, Monosodium Glutamate, Hydrolysed Vegetable Protein, Hydrolysed 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), and By Countries (China, India, Japan, ASEAN, Australia & New Zealand, Rest of Asia-Pacific) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

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ASIA PACIFIC SAVORY INGREDIENTS MARKET ANALYSIS

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  1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker   ASIA PACIFIC SAVORY INGREDIENTS MARKET ANALYSIS  Asia Pacific Savory Ingredients Market, By Product Type (Yeast Extract,  Monosodium Glutamate, Hydrolysed Vegetable Protein, Hydrolysed 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), and By Countries (China, India, Japan,  ASEAN, Australia & New Zealand, Rest of Asia-Pacific) - Size, Share, Outlook, and  Opportunity Analysis, 2019 - 2027     

  2. 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                                    

  3. 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)                               

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