Savory Flavor Blends Market size in 2019 is estimated to be $ 7,200 million, growing at a CAGR of 5.2% during the forecast period 2020-2025. Savory flavors are made using some of the premium ingredients that deliver authentic flavor profile to all the finished goods such as cheese, snacks, dips, etc. Savory Flavors are mouth-watering, classic, authentic, bold and distinctive. Increasing consumption of seasonal and spicy foods and growing number of restaurants are the major factors driving the growth of the market. Moreover, changing lifestyle of consumer and advancement of R&D activities further enhance the overall market demand for Savory Flavors during the forecast period 2020-2025.
Type - Segment Analysis
Based on the Form, Savory Flavor Blends Market is segmented into Powder, Liquid. The Powder segment is forecast to be the fastest-growing segment and is projected to grow at a CAGR of 4.8% during the forecast period 2020-2025. Powder flavor are excellent flavor enhancers. Moreover, powder flavor provides very long shelf life and provides easy of use in recipes are contributing to the growth of this segment.
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Application - Segment Analysis
Based on the Application, Savory Flavor Blends Market is segmented into Snacks, Bakery, Spreads, Meat, Seasonings, Prepared Foods, Soups & Sauces. In 2019, Snacks held the largest share in the Market. Savory is added to snacks to enhance the salty or sugary flavor, even though it is tasteless. Moreover, it can be widely used in frozen foods, spice mixes which increases the consumption of snacks is also contributing to the growth of this segment.
Geography - Segment Analysis
North America dominated the Savory Flavor Blends Market share accounting for 40% of the market in 2019. This is mainly owing to increasing consumption of ready-to-eat products and rising trends for more complex flavors.
However, the Asia-Pacific region is projected to be the fastest-growing during the forecast period 2020-2025. This is owing to changing lifestyle of consumers and increasing consumption of different flavors of snacks.
Drivers – Savory Flavor Blends Market
Increasing Consumption of Seasonal and Spicy Foods
Increasing consumption of seasonal and spicy foods and rising consumption of diverse varieties of flavors in food ingredients are some factors driving the growth of Savory Flavor Blends Market. Large number of people are consuming seasonal food which increasing the usage of savors in food ingredients and rising demand at a faster pace is also set to increase the market growth.
Growing Number of Restaurants
Increasing number of restaurants and rising consumption of meats are some factors driving the growth of the market. Consumers spends highest on restaurants for quality meals and fine dining. Moreover, increasing preference for blending of sweet & savory constituents to produce a single flavor for fulfilling the requirements of various customers further contributing to the growth of Savory Flavor Blends Market.
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Challenges – Savory Flavor Blends Market
Increasing vegan and vegetarian population as Consumers are heading towards non-consumption of animal based products and stringent government regulation are challenging the growth of the market. Moreover, increasing side effects of spicy foods such as indigestion, heart burn and acidity are further restraining its market growth during the forecast period 2020-2025.
Savory Flavor Blends Industry Outlook
Product launches, Merger & Acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Savory Flavor Blends Market. Savory Flavor Blends top 10 companies are Symrise AG, AngelYeast Co. Ltd., Takasago International Corporation, Givaudan Corporation, Frutarom Ltd, Symega, DSM, Synergy and Kanegrade.
Acquisitions/Product Launches:
On November 2019, DSM launches MaxaGourmet, a solution, in the savory ingredient category which enhances the taste of food.
On December 2019, AngelYeast Co. Ltd. launches a new natural flavor-enhancing solution for plant-based food and beverages. This product help the company to strengthen its portfolio and increase its customer base.
Key Takeaways
In 2019, North America dominates the Savory blends Market owing to increasing consumption of ready-to-eat products and rising trends for more complex flavors.
Increasing consumption of seasonal and spicy foods and growing number of restaurants is driving the market growth of savory flavor blends.
Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the Savory Flavor Blends Market report.
Increasing vegan and vegetarian population and stringent government regulation are challenging the growth of the market.
Related Reports :
A. Savory Ingredients Market
https://www.industryarc.com/Report/7470/savory-ingredients-market.html
B. Natural Flavors Market
https://www.industryarc.com/Report/15049/natural-flavors-market.html
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