The global food ingredients market is likely to gain momentum owing to several marketing innovations to boost demand by the manufacturers operating in the market during the forecast period. Fortune Business Insights, in its latest report, titled, “Food Ingredients Market Size, Share and Industry Analysis, By Type (Specialty, Bulk), By Form (Preservatives, Sweeteners, Flavors and Spices, Nutrients, Emulsifiers, Others (Stabilizers, Color Additives, and Others)), By Application (Beverages, Fortified Food Products, Bakery, Confectionary) Others and Regional Forecast, 2019-2026.”, predicts growth for the market in the forthcoming years.
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List of Companies Operating in the Market:
- Archer Daniels Midland Company
- Tate and Lyle
- Community Foods Limited
- Ingredion Incorporated
- Kerry Groups
- Symrise AG
- Givaudan Flavours
- Among others
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Food ingredients are substance added to any type of food to bring in the required flavor and taste. It enhances the quality of food making it delicious for human consumption. Food ingredients consists of food additives that serve functional purpose during the food processing, storing, and packaging across several small, medium, and large-scale industries. Moreover, some well-known food ingredients include acid regulators, colors, anti-caking agents, stabilizers, thickeners, firming agents, and other flavor enhancers. Food ingredients add value and quality to the food. Increasing trend for consuming authentic food is expected to drive the growth of the market during the forecast period.
What does the Report Offer?
The market report offers a detailed assessment of the various market drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Furthermore, the report provides comprehensive research into the regional developments of the market, affecting the market growth during the forecast period. In addition to this, the report includes information sourced from advice of expert professionals from the industry by our research analyst. The competitive landscape offers further detailed insights into the strategies such as product launches, partnerships, merger and acquisitions, and collaborations adopted by the companies to maintain market stronghold between 2019 and 2026.
Drivers and Restraints:
Increasing Demand for Processed Foods to Aid Growth
Rising working population across several economies and growing urbanization has surged the demand for processed foods. This is anticipated to drive the growth for the market during the projected horizon. Moreover, increasing inclination towards convenience and ready-to-eat food products are driving factors for the growth of the market during the forecast period.
Furthermore, the companies coming up with innovative marketing strategies to cater the growing demand of the consumers will contribute to the growth of the market during the forecast period. For instance, in January 2020, Good Culture, a clean label brand, announced its launch of new smoothies in California. The smoothies are laced with protein-rich probiotics that will cater to the growing trend for adding probiotics in diet of the health-conscious population. Moreover, another leading company, PureCircle, in December 2019, launched its new sigma syrup that has advanced soluble properties. The companies adopting strategies such as product launches will drive the growth of the market during the forecast period.
In addition to this, supportive government initiatives is anticipated to positively affect the growth of the market during the forecast period. For instance, back in April 2016, the U.S. Food and Drug Administration (FDA) announced that Guar Gum, a natural substance, could be added to the food products albeit to a certain limit.
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Increasing Demand for Healthy Products to Surge Demand in North America
Among the regions, the market in North America will gain momentum during the forecast period. This is ascribable to several factors such as growing demand for healthy food products, and rising processing industries. Furthermore, increasing demand for convenience foods is expected to boost the demand for the market in North America in the forthcoming years. On the other hand, Asia-Pacific will register the fastest growth for the market during the projected horizon. This is attributable to factors such as rising urbanization, increasing disposable income, and the companies focusing on launching natural food products. Moreover, increasing number of working female population in countries such as India, and China will contribute to the growth of market in Asia-Pacific during the forecast period.
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