“The integrated food ingredients market is projected to grow at a CAGR of 4.9%.”
The integrated food ingredients market is estimated at USD 60.90 billion in 2018 and is projected to grow at a CAGR of 4.9% to reach USD 77.48 billion by 2023. The market is driven by factors such as increasing R&D and technological advancements in various industries, growing number of end-use applications, increasing demand for convenience and processed foods due to changing lifestyle, and multi-functionality of hydrocolloids. However, the increasing demand for natural flavors due to the rising health cautiousness is further accelerating the market growth.
“The beverages segment is projected to grow at the highest CAGR during the forecast period.”
The growing consumption of beverages such as juices, tea, coffee, and alcoholic beverages, especially in developed nations such as Australia, the US, and various countries across the European Union, is driving the growth of the integrated food ingredients market. However, beverage manufacturers are introducing a large variety of non-alcoholic ferments as a part of integrated food ingredients to enhance the mouthfeel, texture, smoothness, flow, and nutrition content of beverage products. The beverages segment is dominated by dry key mixes, whereas juice-based compounds are anticipated to grow in the next 5 years.
“By function, the preservation segment is estimated to grow at the highest CAGR in the global integrated food ingredients market between 2018 and 2023.”
Based on function, the integrated food ingredients market has been segmented into taste enhancers, form, texture, preservation, and coloring. The preservation of food plays an important role in the food & beverage industry, which makes the preservation segment the fastest-growing segment. Preservation increases the shelf life of a product as well as the appeal. The rising awareness among manufacturers to preserve the food in various ways is anticipated to propel the market growth.
“Asia Pacific is projected to be the fastest-growing region in the integrated food ingredients market, due to increasing disposable income in the region.”
Asia Pacific is projected to be the fastest-growing region in the global integrated food ingredients market. Busy lifestyles, rapid urbanization, diet diversification, and the liberalization of foreign direct investment in the food sector is accelerating the market growth. Furthermore, the rise in the consumption of convenience food products and increasing disposable incomes have increased the demand for high-priced fortified nutritional food & beverage products in the region. As a result, a rise in investments of the key players has been witnessed in the food ingredients sector.
The global integrated food ingredients market is segmented region-wise, with a detailed analysis of each region. These regions include North America, Europe, Asia Pacific, South America, and Africa.
Break-up of Primaries
- By Company Type: Tier 1 - 35%, Tier 2 - 25%, and Tier 3 - 40%
- By Designation: C-level - 30%, D-level - 25%, and Others* - 45%
- By Region: North America - 25%, Europe - 23%, Asia Pacific - 38%, South America - 11%, and Africa - 3%
*Others include sales managers, marketing managers, and product managers.
Leading players profiled in this report
- CARGILL (US)
- ADM (US)
- DOWDUPONT (US)
- ABF (UK)
- BASF (Germany)
- KERRY (Ireland)
- DSM (Netherland)
- TATE & LYLE (UK)
- SYMRISE (Germany)
- IFF (US)
- DOHLER (Germany)
- NORTHWEST NATURALS (US)
- GAT FOODS (Israel)
- FIRMENICH (Switzerland)
This report segments the integrated food ingredients market based on function, integrated solutions, and region. In terms of insights, this research report focuses on various levels of analysis?competitive landscape, end-use analysis, and company profiles?which together comprise and discuss the basic views on the emerging & high-growth segments of the integrated food ingredients market, high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges.
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