The APAC savoury ingredients market is projected to register a healthy CAGR of 5.8% during a 10-year period 2016–2026. In a new report titled “Savoury Ingredients Market: APAC Industry Analysis and Opportunity Assessment 2016-2026”, Future Market Insights analyses the market for savoury ingredients in major countries in the APAC region and offers key insights on the factors and trends influencing the market.
The APAC savoury ingredients market is impacted by several factors including increasing adoption of savoury flavours, rising preference and demand for hydrolysed protein-based meat products, a growing inclination towards convenience food, and an awareness of the usage of yeast extracts in lieu of salt, which provide the same taste while ensuring a reduced sodium content at the same time.
A growing demand for instant food such as noodles and sauces containing savoury ingredients is expected to drive growth of the food application segment in markets across the globe. Also, an increasing application of hydrolysed vegetable protein in food products to cater to demands from health conscious consumers is a major factor expected to drive market growth. However, stringent government regulations on the use of monosodium glutamate may hamper the growth of the APAC savoury ingredients market.
Companies in the APAC region are showing a growing preference towards natural savoury flavours and ingredients over artificial flavours. Several companies are also adopting yeast extract in food, which imparts a salty and savoury flavour and reduces bitterness.
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Segmentation-wise market forecast
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China is the fastest growing market followed by markets in the ASEAN countries. The market in China is estimated to represent the highest value share of 35.1% in 2016 and is expected to register a CAGR of 6.6% in terms of revenue over the forecast period. The ASEAN market is likely to represent 25.4% value share by the end of 2016 and is anticipated to register the second-highest CAGR of 6.5% in terms of value over the forecast period. The savoury ingredients market in India is expected to expand at a CAGR of 5.9% over the forecast period. The Japan savoury ingredients market is expected to grow at a CAGR of 4.5% over the forecast period.
Leading market players
Leading companies operating in the APAC savoury ingredients market include
- 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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