The expansion of the caramel ingredient market can be attributed to the forces of globalization and the emergence of new market prospects. Changing dietary trends in regions such as Asia-Pacific and Latin America have played a significant role in driving the increased demand for caramel ingredients, especially in the realms of desserts and snacks.
NEWARK, Del, Nov. 15, 2023 (GLOBE NEWSWIRE) -- The caramel ingredients market is expected to be worth US$ 3,120.0 million in 2023. The market is anticipated to be valued at US$ 6,210.0 million by 2033, developing at a CAGR of 7.1% from 2023 to 2033.
As reported by Future Market Insights analysts, the global sales volume for caramel ingredients has increased over the past half-decade owing to the rising use of this product in a number of sectors including bakery and desserts.
Bakery ingredient use is increasing in parallel with customer curiosity about baked items. As caramel is one of the most widely used colorants, it can be found in a wide variety of products, including cereals, biscuits, and beverages like tea, coffee, and soda. These applications attract clients and are beneficial to the overall goods sales volume.
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Rising financial resources and growing acceptance of urban cultures are strengthening the food and beverage industry globally. This is due to a movement in client meal tastes toward ready-to-eat and frozen baked goods rather than conventional slow-cooker foods. This shift in the food and beverage industry is predicted to boost the growth of the caramel ingredients market throughout the forecast period.
Customers' heightened health concern has resulted in a desire for natural components. Caramel prepared from natural ingredients, such as genuine sugar, and free of artificial additives, has grown in favor as customers seek transparency and short ingredient lists.
The caramel ingredients market grew as a result of globalization and growing market prospects. Developing dietary trends in places such as Asia-Pacific and Latin America stimulated demand for caramel components, especially in usage like desserts and snacks.
Key Takeaways
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The demand for caramel ingredients increased at a 2.9% CAGR from 2018 to 2022.
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By 2033, the market in the United States is expected to reach US$ 880 million.
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The caramel ingredients industry in China is anticipated to be worth US$ 796 million developing a CAGR of 6.3% through 2033.
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The caramel ingredients industry in Japan is projected to value at US$ 757 million by 2033.
“Key producers are continually innovating and expanding their product lines to meet the changing needs of their customers by increasing output,” says Nandini Roy Choudhury (Client Partner for Food and Beverages at Future Market Insights, Inc.)
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Competitive Landscape
The caramel ingredients market is uneven and distinguished by the existence of both foremost and small-scale businesses. These industry players follow a few key growth strategies and a variety of approaches for increasing market share, accessibility, and earnings, such as technology advancement, growth, and consolidation.
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British Bakels introduced a new Chocolate Millionaires Caramel PF, the new introduction to the True Caramel line, in 2021. With a chocolatey touch, this novel launch combines all of the flexible attributes of conventional Millionaires Caramel. It was launched to broaden the company's True Caramel portfolio and enhance the global expansion of caramel ingredients.
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Ghirardelli introduced new White Chocolate Caramel SQUARES in 2020. This product release aided the organization's growth in the Caramel item segment.
Key Companies Profiled
Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global caramel ingredients market presenting a historical analysis from 2018 to 2022 and forecast statistics between 2023 and 2033.
The study reveals essential insights by Type (Inclusions, Fillings, Toppings, Shades, Flavours, Others) Way of application (Confectionery products, Ice creams & cakes, Bakery products, Beverages, Alcoholic, Non-alcoholic construction, others), Way of form (Stable, Liquid, Powder or Granular), and Region.
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Segmentation Analysis of the Caramel Ingredients Market
By Type:
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Inclusions
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Fillings
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Toppings
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Shades
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Flavours
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Others
By Application:
By Form:
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Stable
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Liquid
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Powder or Granular
By Region:
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North America
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Latin America
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Western Europe
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Eastern Europe
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South Asia & Pacific
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East Asia
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The Middle East & Africa
About the Food & Beverage Division at Future Market Insights
The Food & Beverage team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective of providing authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
Author
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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