Savory Ingredients Market Projected to Reach $13,295 Million by 2019

Feb 23rd, 2015

According to market research firm Markets and Markets, the savory ingredients market is projected to grow at a healthy compound annual growth rate (CAGR) of 5.7% between 2014 and 2019 and reach $13,295 million by 2019.

The report "Savory Ingredients Market by Ingredients (Yeast Extracts, HVP, HAP, MSG, Nucleotides and Others), by Application (Food Industry, Pet Food and Others) & by Geography - Global Trends & Forecasts to 2019" said the North American and European savory ingredient markets are quite stable since the past few years. Consumers presume that savory ingredients are artificial chemicals added to enhance flavors which are very unhealthy, according to the report.

The report also said 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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