Food
Ingredients Market Growth, Demand and Key Players to 2022
Food
ingredients
are additives for performing various functions in food, such as
maintaining or improving freshness & safety, nutritional value,
taste, texture and appearance. Various types of food ingredients
include starches, vegetable oils & fats, natural sweeteners,
enzymes & antioxidants, natural flavorings & colors, and
functional ingredients.
Growing
Demand for Ready-to-Eat Foods & Convenience Foods
Globalization
is making the world a smaller place to thrive in, with increasing
trade activities across various sectors, which does not exclude the
food & beverage industry. This has resulted into a rampant rise
in export & import of food ingredients globally, for maintaining
the quality and enhancing the shelf-life of food products. Rapid
urbanisation, and soaring population density with their increasing
purchasing power has led towards rapid adoption of convenience food,
thereby leading towards demand for various food ingredients. With the
rise in food borne diseases, the consumers are becoming more health
conscious and demanding for natural food ingredients. The number of
women workforce has witnessed a tremendous surge over the past
decade, which in turn has propelled demand for ready-to-eat foods.
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Leading
manufacturers in the global food ingredients market are focusing on
new product development. However, stringent government regulations,
coupled with the time consuming process of approval prior to the
commercial launch of products are pressurizing manufacturers in
obtaining approvals before distribution process.
In
its recent research report, Persistence Market Research (PMR) has
projected the global food ingredients market to register an
impressive expansion throughout the forecast period, 2017 to 2022.
The global food ingredients market is estimated to exceed US$ 400,000
Mn in revenues by 2022-end.
Global
Food Ingredients Market to Register Fastest Expansion in North
America
The
food ingredients market is projected to exhibit the fastest expansion
in North America, followed Asia-Pacific excluding Japan (APEJ),
through 2022. Growth of the food ingredients market in Japan will
remain steady through 2022. The market in Japan will exceed US$
13,500 Mn in revenues by 2022-end. The market in Europe will register
a lower CAGR than that in Japan, however it will account for
comparatively larger revenues by 2022-end. Middle East and Africa
(MEA) will register a relatively slower expansion in the global food
ingredients market through 2022.
In
terms of revenues, starches will continue to dominate the global food
ingredients market, based on product type. However, sales of
functional ingredients, enzymes & antioxidants, and natural
flavorings & colors are projected to register a relatively faster
expansion in the market through 2022. Vegetable oils & fats will
also remain a lucrative product segment in the global food
ingredients market, with sales estimated to exceed US$ 100,000 Mn in
revenues by 2022-end.
Sales
of Food Ingredients in Functional Foods to Register Highest CAGR
through 2022
On
the basis of application, although sales of food ingredients in
functional foods will account for the smallest revenue share of the
market, their sales are projected to register the highest CAGR
through 2022. In contrast, sales of food ingredients in frozen foods
will exhibit the lowest CAGR in the market through 2022. In addition,
sales of food ingredients in ready-to-eat foods and meat will reflect
nearly similar CAGRs through 2022. However, revenues from
ready-to-eat foods segment will remain comparatively higher than that
of meat during the forecast period.
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Based
on function, stabilizers, thickeners, binders, & texturizers, and
emulsifiers segments are projected to exhibit similar CAGRs through
2022. Nutrients are anticipated to emerge as the fastest expanding
function of food ingredients over the forecast period. This growth of
nutrients is mainly because of increasing demand for nutrient-rich
food products from health-conscious consumers across the globe.
Although sweeteners will account for the largest market revenue
share, sales of food ingredients in nutrients will witness a sluggish
expansion through 2022.
Company
Profiles
Persistence
Market Research (PMR) has included key players contributing to the
market expansion, which include AngelYeast Co., Ltd., Archer Daniels
Midland Company, Arla Foods amba, Associated Milk Producers, Inc.,
Bunge Limited, Cargill, Inc., Fonterra Co-operative Group Limited,
Givaudan SA, Glanbia Plc, Ingredion Incorporated, Kerry Group Plc,
and Koninklijke DSM N.V.
Latest
Reports, PMR
Frozen
Food Market:
https://www.persistencemarketresearch.com/market-research/frozen-food-market.asp
Seasonings
Spices Market:
https://www.persistencemarketresearch.com/market-research/seasonings-spices-market.asp
