PUBLISHER: Grand View Research | PRODUCT CODE: 1552864
PUBLISHER: Grand View Research | PRODUCT CODE: 1552864
The global savory ingredients market is expected to reach USD 15.62 billion by 2030, according to a new report by Grand View Research, Inc. exhibiting a CAGR of 4.7% during the forecast period. Savory ingredients are widely used as seasoning and flavoring agents in the food industry.
Growing disposable income has increased the consumption of time-saving food product, which is projected to boost the market growth over the coming years. The growing usage of savory ingredients in the food service industry is also expected to propel market growth.
Savory ingredients are used in the animal feed & pet food industry to enhance food flavors. The growing demand for packaged pet food in Asia Pacific is anticipated to drive market demand over the coming years.
Companies such as DSM, Kerry Group, Givaudan, Diana, and Lesaffre have adopted acquisition strategies to enhance their product offerings and regional presence. This approach has helped companies acquire distribution centers and diversify their offerings across many end-use application markets.