VANCOUVER, BC, Oct. 14, 2020 /PRNewswire/ — The Global Food Ingredients Market is forecast to be worth USD 84.97 billion by 2027, according to a new report by Emergen Research. The key factors influencing the market include higher demand for natural food ingredients, the increasing adoption of convenience foods, and a tremendous surge in demand for ready-to-eat food products.
Rising consumer preference for higher nutritious value, increasing requirement for cold-storage foods, the proliferation of ready-made packaged & ready-to-serve foods, foods with lower calorific values & dietary foods, and cheaper alternatives of premium edibles are other market driving factors. Food Flavors and Enhancers have witnessed significant research & development undertaken by flavor manufacturers, and a higher preference has been attributed to natural extracts and fruit flavoring agents.
The global food ingredients market is expected to remain a competitive and fragmented landscape consisting of a number of both small start-ups and medium enterprises, and large conglomerates. During the projected era, increasing demand for technological development and higher diversification in product offerings create enormous growth potential for innovative players.
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Further key findings from the report suggest
- In June 2020, Ingredion Incorporated launched a new dietary fiber in the United States named Novelose 3490. The fiber was originally launched in the Asia Pacific region and enabled food manufacturers to develop high-fiber bakery & snack products to accommodate consumer demand for digestive wellness.
- A higher penetration in the online business channels or e-commerce chains for the food ingredients owing to the reduced price offering and availability of newer product line-ups & bulk products from a higher number of sellers are boosting the growth of the market.
- The developing regions in the Asia Pacific are experiencing a rapid development in the food flavoring, emulsifying, and preserving research & development, increasing usage of the food ingredients, and substantial economic development, along with a mentionable shift in consumer preferences in the food & beverage sector are expected to propel market growth.
- Key players in the market include Cargill Inc., Kerry Group, Archer Daniels Midland, Corbion Purac, Riken Vitamin, Hermes Sweeteners Ltd, Stevia First Corporation, Tate & Lyle Plc, Palsgaard, and Dupont- Danisco, among others.
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For the purpose of this report, Emergen Research has segmented the Global Food Ingredients Market on the basis of Type, Application, Sales Channel, and Region:
Type Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
1. Natural Antioxidants
1. Bulk Sweeteners
– High Fructose
2. Sugar Substitutes
3. Sorbitan Esters
1. Calcium compounds
2. Sodium compounds
3. Silicon Dioxide
2. Gelatin Gum
3. Xanthan Gum
- Food Flavors and Enhancers
1. Natural Extracts
2. Fruit flavors
3. Monosodium Glutamate
- Food Colorants
1. Synthetic Food
2. Natural Food
1. Citric Acid
2. Phosphoric Acid
3. Lactic Acid
Application Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
- Meat and Meat Products
- Dairy Products
- Vegan Foods
Sales Channel Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
Regional Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
- North America
- Asia Pacific
3. South Korea
4. Rest of APAC
- Latin America
2. Rest of LATAM
- Middle East & Africa
1. Saudi Arabia
3. Rest of MEA
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SOURCE Emergen Research