Monosodium glutamate segment is projected to account for a larger share in the savory ingredients market
According to MarketsandMarkets, the global 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%. The demand for flavor enhancers witnessed a significant increase due to the availability of a variety of food choices for consumers.
By type, the monosodium glutamate segment is projected to account for a larger share in the savory ingredients market. The monosodium glutamate segment is projected to dominate the market, on the basis of type, during the forecast period. This is attributed to the cost-effectiveness and wide application areas of MSG in food and feed applications. MSG is a sodium salt of glutamic acid and is the most widely used savory ingredient. It is generally added to food to enhance the salty or sugary flavor, even though it is tasteless. MSG is widely used in frozen foods, spice mixes, canned & dry soups, salad dressings, and meat or fish-based products.
Based on application, the market for savory ingredients is segmented into food and feed. The food segment is estimated to account for a larger share because of the high consumption of savory ingredients, such as MSG and yeast extracts, in various food applications, such as prepared meals and snacks. The rising consumption of natural savory ingredients with the growing demand for clean label and free-from products drives the market for savory ingredients in the food industry.
The key players in this market include Givaudan (Switzerland), Lesaffre Group (France), ADM (US), Ajinomoto Co., Inc. (Japan), Koninklijke DSM N.V. (Netherlands), Kerry Group PLC (Ireland), Tate & Lyle PLC (UK), and AngelYeast Co., Ltd. (China).
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