Apac Savoury Ingredients Market

Savoury Ingredients Market: Increasing Adoption of Savoury Flavours in Food Expected to Drive Growth: APAC Industry Analysis and Opportunity Assessment, 2016-2026

The APAC savoury ingredients market is estimated to project a value of US$ 5.0 Bn by the end of 2016 and is expected to account for US$ 8.8 Bn by the end of 2026, registering a CAGR of 5.8% in terms of value over the forecast period. On the basis of type, the APAC savoury ingredients market is segmented into yeast extract, monosodium glutamate, hydrolysed vegetable protein, hydrolysed animal protein, and nucleotides and others. Monosodium Glutamate (MSG) is projected to be the fastest growing segment over the forecast period with a CAGR of 7.4%, owing to the rising demand for flavour intensifiers and an increasing consumption of packaged foods containing MSG. MSG is expected to account for approximately 32.7% of the total APAC savoury ingredients market share in 2016 while yeast extract accounts for 32.3% market share.

Market dynamics

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 dietary 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.

The APAC savoury ingredients market is likely to witness some key trends in the forecast period. The most predominant trend is companies’ preference of natural savoury flavours and ingredients over artificial flavours. Several companies are also moving towards adoption of yeast extract in food, which imparts a salty and savoury flavour and also reduces bitterness.

Market projections by geography

Of all the markets in the APAC region, 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.

The APAC region offers immense growth opportunities for companies operating in the savoury ingredients space. The primary reason for this is a growing demand for instant food such as noodles and savoury snacks in these markets, augmented by a substantial increase in the disposable income of people. Further, sales of savoury ingredients in these countries already accounts for a substantial revenue share of the APAC savoury ingredients market and revenue from these markets is expected to continue to increase significantly over the forecast period.

APAC Savoury Ingredients Market_Image for Preview Analysis

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).

This Future Market Insights report presents a detailed forecast for the APAC savoury ingredients market from 2016 to 2026. The report aims to offer insights on the advancements in the APAC savoury ingredients market. The study demonstrates market dynamics that are expected to influence the current environment and future status of the APAC savoury ingredients market over the forecast period and offers updates on trends, drivers, restraints, value forecasts, and opportunities for manufacturers operating in the APAC savoury ingredients market.

Meat and poultry products are marinated and barbecued using savoury flavours and seasonings, which is a major factor driving the demand for savoury ingredients. There is an increasing shift in consumer preferences towards convenience foods containing savoury ingredients and this trend is prevalent in several countries in the APAC region. An increasing consumption of meat in countries such as China driven by a growing demand for protein rich food is another factor pushing the need for savoury ingredients, as meat products typically contain savoury ingredients to offer an enriched flavour. These factors are expected to bolster the growth of the savoury ingredients market over the next five to six years. However, stringent government regulations on the use of monosodium glutamate (MSG) may hamper the growth of the APAC savoury ingredients market.

The report starts with an overview of the APAC savoury ingredients market and focuses on the total market share of the APAC savoury ingredients market by each of the types such as yeast extract, monosodium glutamate, hydrolysed vegetable protein, hydrolysed animal protein, and nucleotides and others, which is present in various forms such as liquid, powder, and paste. The subsequent sections of the report highlight the country wise demand for savoury ingredients. It provides a market outlook for 2016–2026 and sets the forecast within the context of the flavour market, including new technological developments as well as product offerings in the APAC savoury ingredients market. This study discusses key regional trends contributing to the growth of the savoury ingredients market in Asia Pacific; and also analyses the degree to which drivers are influencing the market in each region.

In the final section of the report, a competitive landscape has been included to provide report audiences with a dashboard view of leading companies operating in this market. Detailed profiles of manufacturers are included in the scope of the report to evaluate their long-term and short-term strategies, key offerings, and recent developments in the savoury ingredients space. Key players in the APAC savoury ingredients market include ingredient manufacturers and suppliers.

Research methodology

The report provides a detailed analysis of every segment in the savoury ingredients market across the Asia Pacific region. In addition, the report offers forecasts not only in terms of CAGR, but also analyses on the basis of key parameters such as year-on-year (Y-o-Y) growth to understand the predictability of the market and to identify the right opportunities. Another key feature of this report is the analysis of all key segments in terms of absolute dollar. Absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective.

Key segments

By Type

By Form

By Application

  • Yeast Extract

  • Monosodium Glutamate

  • Hydrolysed Vegetable Protein

  • Hydrolysed Animal Protein

  • Nucleotides and Others

  • Liquid

  • Powder

  • Paste

  • Food

    • Dips and Soups

    • Instant Noodles & Sauces

    • Meat & Seafood

    • Bakery Products & Savoury Snacks

  • Pet Food

  • Others

    Key regions  

                            Leading market players

  • China

  • India

  • Japan

  • ASEAN

  • Australia & New Zealand

  • Rest of APAC

  • 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)

  • ABF Ingredients (Ohly)