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Savoury Ingredients Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2012-2016 and Forecast 2017-2023
Savoury Ingredients Market
Global Savoury Ingredients Market
Growing adoption of convenience food and change in lifestyles of the people are vital factors enable drive the Global savoury ingredients market. Furthermore, a rise in disposable income of the developing countries, changing food habits and consumption patterns, rise in demand for beverages and ready to eat foods are escalating demand for savoury ingredients market. However, harmful side effects associated with consumption of Global savoury ingredients, a rise in clean label movement by the consumers, growing concerns on consumption of natural and fresh food are expected to restrain the growth of savoury ingredients market.
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The Savoury Ingredients Market is classified on the basis of type, origin, application and geographical regions.
Based on type, global savoury ingredients market is segmented as
• Hydrolysed vegetable protein
• Yeast extracts
• Nucleotides
• Monosodium glutamate
• Hydrolysed animal protein
• Others
Based on application, global savoury ingredients market is segmented as
• Convenience food
• Snacks
• Frozen savoury food
Based on origin, global savoury ingredients market is segmented as
• Natural
• Artificial
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Significant investments made in development of savoury products are expected to propel the demand for the savoury ingredients during the forecast period. Companies are adopting various growth strategies for development of savoury ingredients industry. Ajinomoto Company is offering its products in local regions in favour of the taste preferences of the particular region. Angel yeast has introduced new flavours and ingredients in savoury ingredients market and invested hugely in the production expansions. In July 2016, Angel yeast has launched new strong umami taste and kokumi taste savoury ingredients from yeast extracts.
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Geographically Savoury Ingredients Market is segmented as Latin America, North America, Asia-Pacific, The Middle East & Africa and Europe. North America is the leading market in savoury ingredients market followed by Europe owing to high consumption of convenience food, snacks, bakery products and beverages, However, rising awareness about the hazardous health issues by consumption of processed food is expected to dampen the growth of the savoury ingredients market. Asia Pacific region is anticipated to dominate the savoury ingredients market during the forecast period owing to rise in consumption of savoury food such as noodles, sauces, pickles etc. in India, China and Japan.
Some of the players in Savoury Ingredients Market are Givaudan (Switzerland). Ajinomoto Co., Inc. (Japan), Koninklijke DSM N.V. (Netherlands), Tate & Lyle plc (U.K.), Angel Yeast (China), Kerry Group plc (Ireland) to name some few.
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