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Market Leaders - the Savory Ingredients Market
The savory ingredients market has many players (small, medium, and large); however, the market is dominated by a few, such as Koninklijke DSM N.V. (Netherlands), Ajinomoto Co., Inc. (Japan), Kerry Group plc (Ireland), Tate & Lyle plc (U.K.), and Givaudan (Switzerland) collectively accounting for a significant share in the savory ingredients market. Acquisitions, agreements, and investments were the preferred growth strategies of the key players from 2011 to 2016 for better penetration and coverage, increase in the product portfolio, and to reach new potential markets. Other players include Lesaffre (France), Symrise AG (Germany), Sensient Technologies Corporation (U.S.), AngelYeast Co., Ltd. (China), and Vedan International (Holdings) Limited (Hong Kong), also have a strong presence in this market.
Ajinomoto Co., Inc. (Japan)
Ajinomoto Co., Inc. operates through various business segments including Japan food products, international food products, life support, healthcare, and others (business tie-ups, the packaging business, the logistics business and other service businesses). The international food products segment provides consumer foods, which include flavor seasonings and instant noodles; and umami seasonings for processed food manufacturers. It operates through 27 countries with 119 production facilities, through its subsidiaries. The company mainly operates in Europe and has an active presence in North America, Asia-Pacific, South America, Africa, and the Middle East. It has customers in 130 countries and supplies products to a wide range of industries.
The increase in demand for savory ingredients products has encouraged the company to focus on R&D to innovate new products for the global market. The company’s expanded product portfolio reduces its market risks to a great extent. It has dedicated R&D teams for continuous introduction of new products to obtain a major market share and increase the company’s revenues.
Koninklijke DSM N.V. (Netherlands)
Koninklijke DSM N.V. is one of the leading companies in production of nutrition, flavor ingredients, and industrial chemicals. The company is active in sectors such as nutrition, performance materials, innovation center, and corporate activities. The nutrition segment of the company comprises DSM Nutritional Products and DSM Food Specialties, which offers savory ingredients for soups, sauces, ready meals, meat, and snacks. It has presence in over 60 countries and operates through its subsidiaries. The major consumer market is Europe and North America.
The portfolio of DSM includes the ingredients with natural origin, which is the USP of the products. The development strategy of the company is on a multi-tier formulation, supported by mergers, acquisitions, and new product launches.
Savory ingredients Market by Type (Yeast extracts, Hydrolyzed vegetable proteins, Hydrolyzed animal proteins, Monosodium glutamate, Nucleotides), Application (Food, Feed), Origin (Natural, Synthetic), form, and Region - Global Forecast to 2022
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