The promising growth of the Food Ingredients market is driven by the higher expansion in the processed foods and ready-to-serve foods market and the increasing demand from developing economies
Vancouver, Dec. 04, 2023 (GLOBE NEWSWIRE) -- The Food Ingredients Market is forecasted to be worth USD 140.62 billion by 2032, according to a new report by Emergen Research. The key factors influencing the market include increasing adoption of the convenience foods, higher demand for the natural food ingredients, and a tremendous surge in demand for ready-to-eat food products.
Higher consumer preference for the extended nutritious value, rising requirement for the cold-storage foods, the higher proliferation of the ready-made packaged & ready-to-serve foods, foods with lower calorific values & dietary foods, and cheaper alternatives of the premium edibles are a few additional market driving factors. Food Flavors and Enhancers hold the highest amount of research & developments undergone by the flavor manufacturers, and a higher preference has been attributed to the Natural Extracts and Fruit Flavoring agents.
The global market landscape of food ingredients is expected to remain in a very competitive and fragmented landscape consisting of a number of both the small start-ups, medium enterprises, and large conglomerates. During the projected era, increasing demand for technological development and higher diversification in offered products ensure the enormous potential for the innovative players.
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Scope of Research
Report Details |
Outcome |
Market size value in 2019 |
USD 37.68 Billion |
CAGR (2023–2032) |
10.6% |
Revenue forecast to 2032 |
USD 140.62 Billion |
Base year for estimation |
2022 |
Historical data |
2019–2021 |
Forecast period |
2023–2032 |
Quantitative units |
Revenue in USD Billion, Volume in Kilo Tons, and CAGR from 2023 to 2032 |
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Segments covered |
Type, Application, Sales Channel, and Region |
Regional scope |
North America; Europe; Asia Pacific; Central & South America; MEA |
Country scope |
U.S.; Canada; Mexico; U.K.; Germany; France; Italy; Spain; China; India; Japan; South Korea; Brazil; Saudi Arabia; South Africa; Turkey |
Key companies profiled |
Kerry Group, Cargill Inc., Corbion Purac, Stevia First Corporation, Hermes Sweeteners Ltd, Tate & Lyle Plc, Archer Daniels Midland, Riken Vitamin, Palsgaard, and Dupont- Danisco |
Customization scope |
10 hrs of free customization and expert consultation |
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Major Companies and Competitive Landscape
The market for Food Ingredients Market is fairly in the fragmented side, with a number of conglomerates as well as medium-sized & start-up companies, which account for a major global share of the market. The crucial players involved in the Food Ingredients Market are desegregated across the value chain. The key companies of the market are well-equipped with large production facilities and are also engaged in various research & development activities. Some of the prominent players in the market include:
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Kerry Group
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Cargill Inc.
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Corbion Purac
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Stevia First Corporation
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Hermes Sweeteners Ltd
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Tate & Lyle Plc
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Archer Daniels Midland
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Riken Vitamin
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Palsgaard
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Dupont- Danisco.
Strategic Development
In June 2020, Ingredion Incorporated launched a new dietary fiber in the United States with a name Novelose 3490. The fiber was originally launched in the Asia Pacific region and enabled the food manufacturers to develop high-fiber bakery & snacks products that could satisfy the consumer demand regarding digestive wellness.
Further key findings from the report suggest
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In June 2020, Ingredion Incorporated launched a new dietary fiber in the United States with a name Novelose 3490. The fiber was originally launched in the Asia Pacific region and enabled the food manufacturers to develop high-fiber bakery & snacks products that could satisfy the consumer demand regarding digestive wellness.
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A higher penetration for the online business channels or e-commerce chains for the food ingredients owing to the reduced price offering and availability newer product line-ups & bulk product availability from a higher number of available sellers are deliberately helping to create enforcement to the market.
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The developing regions in the Asia Pacific are experiencing a rapid development in the food flavoring, emulsifying, and preserving research & development and increasing usage of the food ingredients, and a substantial economic development along with a mentionable shift in the consumer preferences in the food & beverage sectors deliberately propel the market enforcement.
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Segments Covered in Report
Emergen Research has segmented into the global Food Ingredients Market on the basis of Type, Application, Sales Channel, and Region:
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.
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