According to Regional Research Reports, the global savory extract market is expected to achieve exponential industrial growth and be valued at USD 8.25 billion in 2022 and reach USD 13.4 billion by 2033, at a CAGR of 4.95% over the forecast period of 2023-2033.
The savory extract market refers to the industry that produces and markets various savory extracts and flavorings used in the food and beverage industry. Savory extracts are concentrated solutions derived from various sources, such as vegetables, herbs, and spices, and are used to enhance the flavor of a wide range of dishes. These extracts are essential ingredients in many processed foods, restaurant dishes, and home cooking. Here is some content related to the savory extract market:
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Leading players operating in the Savory Extract Market include:
- Basic Food Flavors, Inc
- Koninklijke Dsm N. V
- Ajinomoto Co., Inc
- Kerry Group Plc
- Tate Lyle Plc
- Givaudan Sa
- International Flavours Fragrances Inc
- Frutarom Ltd
- Wild Flavours
- Specialty Ingredients Inc
- Symega Savoury Technology Limited
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Key Segments Covered in the Savory Extract Market Industry Survey
The savory extract market has been segmented based on Type and Application. The market is analyzed at a regional and global levels with considering the secondary and primary sources
Savory Extract Market by Type (Revenue Sales, USD Billion, 2022-2033)
- Yeast Derived Savory Extract
- Hydrolyzed Vegetable Proteins Derived Savory Extract
- Monosodium Glutamate Derived Savory Extract
- Nucleotides Derived Savory Extract
- Hydrolyzed Animal Proteins Derived Savory Extract
Savory Extract Market by Application (Revenue Sales, USD Billion, 2022-2033)
- Food Industry
- Alcoholic Beverages and Non-alcoholic Beverages Industry
- Pharmaceutical Industry
- Animal Feed Industry
- Others Dietary Supplement Industries
Savory Extract Market by Region:
- North America Savory Extract Market
- Latin America Savory Extract Market
- Europe Savory Extract Market
- Asia Pacific Savory Extract Market
- Middle East and Africa Savory Extract Market
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Overview of Savory Extracts:
- Savory extracts are natural or artificial substances that capture the flavor of specific ingredients, such as garlic, onion, mushroom, or beef. They are used to add depth and complexity to a wide variety of dishes.
Types of Savory Extracts:
- Savory extracts come in various forms, including liquid, powder, and paste. Common types include beef extract, chicken extract, vegetable extracts, and more.
Applications:
- The savory extract market serves a range of industries, including food and beverage, culinary, and foodservice. These extracts are used in soups, sauces, gravies, snacks, seasonings, and processed meats, among other applications.
Market Trends:
- The savory extract market has seen several trends in recent years, including a growing demand for natural and clean-label extracts due to health-conscious consumers. There's also an emphasis on flavor innovation and the development of ethnic and regional flavor profiles.
Key Players:
- Major companies in the savory extract market include Givaudan, IFF (International Flavors & Fragrances), Symrise, Kerry Group, and Firmenich, among others.
Market Growth:
- The global savory extract market has experienced steady growth due to increasing demand for processed and convenience foods, as well as changing consumer preferences for unique and complex flavors.
Challenges:
- The savory extract market faces challenges related to regulatory changes, sustainability concerns, and the need to meet consumer demand for natural and clean-label products.
Innovation:
- Ongoing innovation in the savory extract market includes the development of new extraction techniques, such as cold pressing, and the use of alternative ingredients to create more sustainable and environmentally friendly extracts.
Regional Differences:
- The market for savory extracts varies by region, with different countries and cultures favoring certain flavors and types of extracts. Understanding these regional preferences is important for companies operating in this industry.
Future Prospects:
- The savory extract market is likely to continue evolving as consumer tastes change and as the food industry seeks to provide healthier and more sustainable products. This market is poised for growth as demand for flavorful, convenient, and natural foods continues to rise.
Remember that the specifics of the savory extract market may evolve over time, so it's important to stay updated with the latest industry news and reports for the most current information.
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