Dublin, Dec. 07, 2020 (GLOBE NEWSWIRE) -- The "Food Ingredients Market Size, Trends & Analysis, By Type, By Application, By Region, Forecast To 2027" report has been added to ResearchAndMarkets.com's offering.
The growth of the food ingredients market is mainly due to global expansion in processed foods demand, especially in developing economies.
Market Size in 2019- USD 36.29 billion, Market Growth - CAGR of 7.8%, Market Trends - Rapidly rising population and urbanization have boosted global demand for processed food products, driving food demand.
The Global Food Ingredients Market size is forecast to grow from USD 36.29 billion in 2019 to USD 68.03 billion by 2027, at a CAGR of 7.8% during the forecast period. Rapidly expanding population and urbanization have augmented global demand for processed food products, thereby driving food demand.
Rapid urbanization and high population density with greater purchasing power have led to the speedy adoption of convenience foods, leading to the demand for different food ingredients. Consumers are becoming increasingly health-conscious and creating demand for natural food ingredients with the increase in foodborne diseases. Over the past decade, there has been a tremendous surge in the number of women in the workforce, thus creating demand for ready-to-eat foods.
The market in Japan is forecast to reach USD 21.14 million in revenue in 2026. Europe's food ingredients market will register a lower CAGR than the market in Asia Pacific's, but by the end of 2027, it will account for comparatively larger revenues. By 2027, the Middle East and Africa (MEA) region is expected to register a relatively slower expansion of the global market for food ingredients.
Further key findings from the report suggest
- The Food Ingredients Market is forecast to grow from USD 36.29 billion in 2019 to USD 68.03 billion by 2027, at a CAGR of 7.8% during the forecast period. Rising population and rapid urbanization have bolstered demand for processed food products, driving the food ingredients market growth.
- In 2019, the market for enzymes was valued at USD 3.17 Billion, while in the same year, the market for preservatives was valued at USD 3.41 Billion. Within hydrocolloids, a CAGR of 7.76% over the forecast period is anticipated to be witnessed by the natural antioxidants segment.
- The bakery segment is expected to reach USD 21.89 Billion in 2027, growing at a CAGR of 8.63%. The meat and meat products segment is expected to grow at a CAGR of 7.03% to reach a valuation of USD 12.13 Billion in 2027.
- The Asia Pacific (APAC) region is anticipated to reach USD 22.86 Billion in 2027, growing at a CAGR of 9.97%. Developing countries are the fastest-growing consumer of food enzymes as their per capita income increases the demand for packaged food. Europe is estimated to be the second-largest consumer and producer of food enzymes and is projected to hold approximately 28% of the global market share in 2027. North America is anticipated to register the highest growth rate of 10.12% for enzymes due to changing consumer lifestyles and increased nutritional awareness.
- The major players in the market are Kerry Group (Ireland), Corbion Purac (Netherlands), Cargill Inc. (U.S.), Hermes Sweeteners Ltd (Switzerland), Tate & Lyle Plc (U.K.), Archer Daniels Midland (U.S.), Riken Vitamin (Japan), Stevia First Corporation (U.S.), Palsgaard (Denmark), and Dupont- Danisco (Denmark).
Key Topics Covered:
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 3. Indicative Metrics
Chapter 4. Food Ingredients Market Segmentation & Impact Analysis
Chapter 5. Food Ingredients Market By Type Insights & Trends
Chapter 6. Food Ingredients Market By Application Insights & Trends
Chapter 7. Food Ingredients Market Regional Outlook
Chapter 8. Competitive Landscape
Chapter 9. Company Profiles
- Kerry Group (Ireland)
- Cargill Inc. (US) Co.bion Purac (Netherlands)
- Stevia First Corporation (US)
- Hermes Sweeteners Ltd (Switzerland)
- Tate & Lyle Plc (UK)
- Archer Daniels Midland (US)
- Riken Vitamin (Japan)
- Palsgaard (Denmark)
- Dupont- Danisco (Denmark).
For more information about this report visit https://www.researchandmarkets.com/r/80w1hx
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