Growing demand for processed foods, massive developments in the confectionery product segment and greater focus on natural food sources are key factors contributing to the high CAGR of food processing ingredients during the forecast period.
Food processing involves the transfer from one form to another. Food processing is divided into three categories: primary, secondary and tertiary. Foods are processed to make them edible as part of primary food processing. Secondary food processing involves turning ingredients into familiar items like bread, while tertiary food processing involves creating products that are high in sugar or low in fiber. The need for processed foods is met with the help of various food processing ingredients.
In today’s environment, there is a growing need for processed foods. The use of alcoholic beverages and ready-to-eat foods is fueling the expansion of the food processing ingredients industry. External factors such as changing lifestyles and increasing numbers of working women are also encouraging more frequent use of ready-to-eat food products, boosting the industry. However, an increase in food-related scams and fluctuating raw material costs are limiting the expansion of the food processing ingredients industry.
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According to the current analysis of Reports and Data, the global food processing ingredients market was valued at USD 47.93 billion in 2020 and is expected to reach USD 75.56 billion by 2028, with a CAGR of 5.8% . Food processing ingredients have always been at the heart of the industry due to their widespread application in various foods. However, the growing dimension of health in the use of processed items is driving the growth of the industry. Food processing is carried out for a variety of purposes, for example to ensure safety, maintain quality and extend the shelf life of products. The mechanism undertaken at different stages. Primary food processing helps convert agricultural raw materials into consumables. However, more complex processing mechanisms are used for more advanced purposes and use high quality ingredients for the same. A shift in consumer behavior towards safety has driven the industry. Consumers are increasingly responsive to the procurement and production process they adopt.
The industry is well developed in Europe, while Asia Pacific is expected to register the highest CAGR during the forecast period. Emerging economies have substantial growth potential as consumer spending by consumers gradually increases and diets are increasingly influenced by the West in their nature. In addition, industry penetration and establishment of advanced facilities by major industry players in these countries are driving the market forward.
Companies considered and presented in the market report
Tate & Lyle PLC, Kerry Group, Cargill, Ingredion Incorporated, Archer Daniels Midland Company, Dupont, Associated British Foods PLC, Arla Foods, Ashland Global Holdings Inc. and Nexira.
Other key findings from the report suggest-
- By form, the dry forms segment holds a larger share in the industry. However, the growth of the segment is slowing due to the improvement of liquid ingredients.
- By source, natural sources represent the dominant share of the market due to increasingly strict mechanisms in various countries and growing consumer preference for natural sources.
- By type of ingredient, the protein segment holds an important share globally, as protein enrichment has always been an integral part of the industry. Growing consumer health awareness will contribute to future growth.
- Yeast is expected to become the fastest growing food processing ingredient during the forecast period due to its full application in the confectionery and beverage segments, both of which are seeing high growth rates.
- The food processing ingredients industry has often been under the control of manufacturing harmful ingredients like sodium nitrates, MSG, artificial sweeteners, etc. which are known to harm the body.
- By region, Europe is the largest market for the industry. The growing demand for processed foods along with the growing emphasis on nutrition are leading to many innovations in the industry.
- According to the Indian Minister of Commerce, consumers have acquired a level of health awareness, a development that has led them to choose their packaged food products more wisely. As the industry is under-penetrated, improving competition will drive volume growth and create greater brand awareness and availability through stronger distribution.
- The growth of the industry in developing economies such as India also holds promise for job creation and income generation in the economy. The challenges of infrastructure and the food supply chain must be overcome in order to help the economy realize the full potential of the industry.
- Acquisitions are part of the growth strategy of many industry players as they help strengthen a company’s footprint in the market. In May 2019, the market leader ADM Company finalized the acquisition of Zieglar Group, thereby increasing its portfolio of nutritional products.
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For the purpose of this study, reports and data segmented the Food Processing Ingredients market on the basis of type, form, source, application, and region:
Type (Revenue, USD Million; 2018-2028)
- Modified starch and starch derivatives
- Food stabilizers
- Acidity regulators
- Launch agents
Form (Revenue, Million USD; 2018-2028)
- Dry ingredients
- Liquid ingredients
Source (Revenue, Million USD; 2018-2028)
Application (Revenue, Million USD; 2018-2028)
- Bakery and confectionery products
- Ready meals
- Dairy products and frozen desserts
- Other applications
Regional Outlook (Revenue USD Million; 2018-2028)
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
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