ASIA PACIFIC SAVORY INGREDIENTS MARKET ANALYSIS

Asia Pacific Savory Ingredients Market, By Product Type (Yeast Extract, Monosodium Glutamate, Hydrolysed Vegetable Protein, Hydrolysed Animal Protein, Nucleotides and Others), By Form (Liquid, Powder, Paste), By Application (Food (Dips & Soups, Instant Noodle & Sauces, Meat & Seafood, Bakery Products & Savory Snacks), Pet Food, Others), and By Countries (China, India, Japan, ASEAN, Australia & New Zealand, Rest of Asia-Pacific) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

Published In : Mar 2020
Code : CMI3666
Pages :120
Formats :
Excel and PDF
Industry : Food and Beverages

Asia Pacific Savory Ingredients MarketSize and Trends

The Asia-pacific savory ingredients market is projected to surpass US$ 9 billion by the end of 2027, in terms of revenue, growing at CAGR of 5.9% during the forecast period (2019 to 2027).

Market Trends

Shifting preferences among consumers for savory snacks is expected to be a major trend and this is encouraging manufacturing to launch variety in savory snacks. For instance, in September 2019, ReGrained, an ingredient and packaged goods innovator that leverages patented technology to transform food manufacturing byproduct into tasty super foods announced that it has updated its brand aesthetic and will soon enter the savory snack space with an innovative new snack puff.

Growth in demand for savory ingredients for alcoholic beverage applications will favor the market growth of the savory ingredients over the forecast period. For instance, in March 2017, Coca-Cola has launched the first alcoholic drink “Chu-Hi”. It is canned sparkling flavored drinks that include a local spirit called shochu.

Figure 3. Asia-Pacific Savory Ingredients Market, Revenue Share (%), By Product Type, in 2018