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Food Ingredients Market Projected to Attain USD 68.03 Billion by 2027; CAGR of 7.8% | Reports and Data

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Food Ingredients Market Projected to Attain USD 68.03 Billion by 2027; CAGR of 7.8% | Reports and Data

February 12
00:10 2021
Food Ingredients Market Projected to Attain USD 68.03 Billion by 2027; CAGR of 7.8% | Reports and Data
The rapidly growing demand for processed foods, especially among the working population, is a significant factor expected to propel the market growth

Market Size – USD 36.29 billion in 2019, Market Growth – CAGR of 7.8%, Market Trends – A boom in the global population, expanding workforces, and the rising demand for packaged food products

 The global food ingredients market is expected to be valued at USD 68.03 billion in 2027 from USD 36.29 billion in 2019, registering a CAGR of 7.8% through the forecast period. Food ingredients, also known as food additives, are substances added to food to enhance its flavor and make it nutritious and tasteful. These ingredients are added to food products during food processing for specific nutritional and functional purposes. Food ingredients improve food safety and preserve food quality throughout the packaging, storage, and transportation processes. Moreover, they maintain the freshness of food, preventing spoilage and extending its shelf-life. These substances are widely used in bakery products, confectionery, sauces & condiments, beverages, frozen & processed foods, dairy products, and savory snacks. Some of the commonly used food ingredients include preservatives, color additives, flavor enhancers, sweeteners, spices, emulsifiers, thickeners, stabilizers, fat replacers, and enzymes. The food ingredients industry has to comply with the norms and standards set by the leading regulatory bodies, including the Food and Drug Administration (FDA), World Health Organization (WHO), and National Food Safety and Quality Service (SENASA).

The global food ingredients market is expected to account for a substantially high revenue over the forecast timeline. Fast-paced urbanization, the booming food & beverage industry, the surging demand for processed and packaged food products, and the rising number of working women are the primary factors bolstering the global market growth. The worldwide export & import of food products, rising need for preserving food quality, growing demand for savory snacks and ready-to-eat foods, and the increasing disposable incomes of consumers are the other factors that are indispensable to market growth. Furthermore, specialty food ingredients, such as probiotics, prebiotics, stanols, and sterols, are added to specific food items to enhance their nutritional value, making them highly functional and nutritious. Hence, the growing awareness about functional foods’ benefits and their considerable demand among fitness-oriented consumers further bolster the market growth.

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Key findings of the report:

  • Among the key regional segments, the Asia Pacific food ingredients market dominates the global market. It is expected to hold a significant revenue of USD 22.86 billion over the forecast period at a 9.97% CAGR. The market growth in this region is mainly supported by the surging focus on health & wellness, rise in demand for functional foods, increasing sales of packaged food products, and the growing demand for fresh and high-quality food.
  • Leading companies in the global food ingredients market include Cargill Inc. (U.S.), Archer Daniels Midland (U.S.), Stevia First Corporation (U.S.), Kerry Group (Ireland), Tate & Lyle Plc (U.K.), Palsgaard (Denmark), Dupont-Danisco (Denmark), Corbion Purac (Netherlands), Hermes Sweeteners Ltd. (Switzerland), and Riken Vitamin (Japan).
  • ·       In August 2020, Symega Food Ingredients, the renowned Indian food ingredients manufacturer, automated its entire business operations with Infor’s PLM cloud software (Optiva) to scale up its business and accelerate innovation.
  • In January 2020, Olam International, the Singapore-based food ingredient company, announced its plans to restructure its business to create two new groups –Olam Global Agri (OGA) and Olam Food Ingredients (OFI). The former offers organic and sustainable food ingredients, while the latter offers essential agricultural products, including animal feed and cotton.

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For the purpose of this report, the global food ingredients market has been segmented on the basis of type, application, and region:

By Type (Kilo Tons and Revenue, USD Million; 2017-2027)

  • Preservatives
    • Natural Antioxidants
    • Benzonates
    • Sorbates
    • Others
    • Sweeteners
      • Bulk Sweeteners
        • Fructose
        • High Fructose
        • Sucrose
        • Lactose
        • Others
      • Sugar Substitutes
        • Sucralose
        • Saccharine
        • Stevia
        • Xylitol
        • Aspartame
        • Others
      • Emulsifiers
        • Lecithin
        • Mono-di-glycerides
        • Sorbitan Esters
        • Others
      • Anti-caking Agents
        • Sodium compounds
        • Calcium compounds
        • Silicon Dioxide
        • Others
      • Enzymes
        • Lipase
        • Protease
        • Carbohydrases
        • Others
      • Hydrocolloids
        • Gelatin Gum
        • Starch
        • Xanthan Gum
        • Others
      • Food Flavors & Enhancers
        • Natural Extracts
        • Monosodium Glutamate
        • Fruit flavors
        • Others
      • Food Colorants
        • Natural
        • Synthetic
        • Others
      • Acidulants
        • Lactic Acid
        • Citric Acid
        • Phosphoric Acid
        • Others

By Application (Kilo Tons and Revenue, USD Million; 2017-2027)

  • Bakery & Confectionery products
  • Beverages
  • Meat Products
  • Dairy Products
  • Others

By Region (Kilo Tons and Revenue, USD Million; 2017-2027)

  • North America
    • U.S.
    • Canada
    • Europe
      • Germany
      • U.K.
      • France
      • BENELUX
      • Rest of Europe
      • Asia Pacific
        • China
        • Japan
        • South Korea
        • Rest of Asia Pacific
        • Latin America
          • Brazil
          • Rest of Latin America
          • Middle East & Africa
            • Saudi Arabia
            • U.A.E.
            • Rest of Middle East & Africa

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Table Of Content:

Chapter 1. Market Synopsis
    1.1. Market Definition
    1.2. Research Scope & Premise
    1.3. Methodology
    1.4. Market Estimation Technique
Chapter 2. Executive Summary
    2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
    3.1. Macro Indicators
           3.1.1. Global usage of Food Ingredients
           3.1.2. Global Food Ingredients usage by Application Type
Chapter 4. Food Ingredients Market Segmentation & Impact Analysis
    4.1. Food Ingredients Segmentation Analysis
    4.2. Industrial Outlook
    4.3. Regulatory Framework
    4.4. Food Ingredients Market Impact Analysis
          4.4.1. Market driver analysis
                    4.4.1.1. Organized retail penetration
                    4.4.1.2. Complexity in the food supply chain
          4.4.2. Market restraint analysis
                    4.4.2.1. Consumers require natural additives

Continue…

 

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