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RTS Report: Global Savory Flavors Market Worth $8.6 Billion
Posted: August 15, 2013
The global market for savory flavors and seasonings in food and drink is currently worth $8.6 billion having grown by $1.9 billion over five years, according to the latest research from market data company RTS.
This significant growth is due to increased consumer demand for convenient food and drink products, RTS said in a recent report (view the infographic). Ready meals, cooking sauces and snacks including sandwiches and savory bites all require savory flavors. In addition, RTS has seen a growing trend for stronger and more complex flavors as well as the emergence of savory flavors in traditionally sweet product categories.
“Savory flavors are arguably a neglected area of the flavors industry," said Jamie Rice, RTS director. "However, the rise of meal kits, gourmet salads and the innovative use of savory flavors in sweet categories such as ice cream, bakery and soft drinks all point to savory flavors’ growing importance.”