Savory Ingredients Market Expected to Reach $13,295 Million by 2019 - New Report By MarketsandMarkets
(PRWEB) January 24, 2015 -- According to market research Savory Ingredients Market Global Trends & Forecasts to 2019 the Savory Ingredients Market is projected to grow at a healthy CAGR of 5.7% between 2014 2019 & reach $13,295 Million by 2019.
The North American and European savory ingredient markets are quite stable since the past few years due to increased consumer awareness related to the ill effects of savory ingredients. Consumers presume that savory ingredients are artificial chemicals added to enhance flavors which are very unhealthy. The developing countries in the Asia-Pacific region have very low consumer awareness with regard to savory ingredients due to which there is a lot of untapped potential for savory ingredients in these developing countries.
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The report defines and segments the savory ingredients market with analyses and projections of the market size in terms of value and volume. The market has been segmented on the basis of types and applications of savory ingredients. The report also identifies the driving and restraining factors of the global market with an analysis of trends, opportunities, winning imperatives, and challenges.
The market is segmented and the market size is forecasted on the basis of key regions, including North America, Europe, Asia-Pacific (APAC), and Rest of the World (ROW).
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Yeast extracts are benefiting from the trend of the increasing demand of more natural ingredients and pressure to reduce the usage of monosodium glutamate. In general, yeast extracts have a good image and are the preferred choice for clean-label products. Yeast extract volumes have increased considerably in Europe in the period up to 2010. Most European producers are running at or near capacity. New investments have mainly been focused in Asia with the intention of importing into Europe.
Monosodium glutamate is projected to hold a majority of the market share in the savory ingredients market, as a cost-effective flavor enhancer. However, it is slowly getting replaced by yeast extracts and other alternatives due to the health issues associated with the consumption of monosodium glutamate.
The pressure to market all-natural products is putting its usage further under pressure. Use of MSG in snack foods remains widespread and is unlikely to change in the period up to 2016. Snack foods have a rather unhealthy image and the use of MSG and nucleotides here is not a major consumer issue, especially in countries where the consumer awareness regarding savory ingredients is low.
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