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“The food processing ingredients market is projected to grow at a CAGR of 6.2%.”
The food processing ingredients market is estimated to be valued at USD 41.40 billion in 2018 and is projected to reach 55.99 billion by 2023, at a CAGR of 6.2%. The market is driven by the rapid growth in demand for processed food, additional health benefits of food processing ingredients, and positive growth trend in alcoholic beverages consumption. Increase in instances of food-related frauds is the major restraint for the growth of this market.
“The yeast segment is projected to grow at the highest CAGR.”
The yeast segment is estimated to grow at the highest rate in food processing ingredients market in 2018. Increase in consumer demand for newer tastes of wines including blackberry, apple, and orange and the rise in environmental sustainability have created challenges for innovations in wine fermentation for wine producers. Technological advancements such as spinning cone column and reverse osmosis provide many lucrative opportunities for innovations in the wine market, which has been propelling the importance of yeast in food processing ingredients; this, in turn, is driving the market for food processing ingredients.
“Europe is set to lead the food processing ingredients market, with the largest share in 2018.”
The European market is estimated to be the largest in 2018, owing to the rising urbanization and standard of living, and increased demand from food & beverage manufacturers. It remains as one of the important markets for food processing ingredient companies, due to its size and regulatory environment. The market is driven by consumer demand for a wide range of food products such as frozen novelties, bakery products, confectionery products, beverages, and meat. The increasing demand for convenience, confectionery & bakery, and fast food products acts as a key driver for the growth of the food processing ingredients market in the UK, France, and Germany. The European market is projected to grow at a significant growth rate from 2018 to 2023.
The breakdown of the primaries on the basis of company type, designation, and region, conducted during the research study, is as follows:
- By Company Type: Tier 1: 45%, Tier 2: 30%, and Tier 3: 25%
- By Designation: C Level: 55%, D Level: 35%, and Others: 10%
- By Region: North America: 35%, Europe: 25%, Asia Pacific: 23%, South America: 10%, and RoW: 07%
Key food processing ingredient manufacturing players include the following:
• Cargill (US)
• ADM (US)
• DuPont (US)
• Ingredion (US)
• Tate & Lyle (UK)
• DSM N.V. (Netherlands)
• CHR. Hansen (Denmark)
• Ashland (US)
• KB Ingredients (US)
• Kemin (US)
The key players in the food processing ingredients market adopted new product launches as their key growth strategy to increase their market shares and profits. Expansions, R&D, and innovations formed the second most important growth strategy to be adopted by market players.
The report analyzes the food processing ingredients market across different types and regions. It aims at estimating the market size and future growth potential of this market across different segments such as form, source, application, and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, recent developments, and key market strategies.
Reasons To buy this report:
- To get a comprehensive overview of the global food processing ingredients market
- To gain wide-ranging information about the top players in this industry, their service portfolios, and key strategies adopted by them
- To gain insights of the major countries/regions in which the food processing ingredients market is flourishing