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
Asia Pacific Savory Ingredients Market Report Snapshots
Joining thousands of companies around the world committed to making the Excellent Business Solutions.
View All Our Clients