Food Ingredients Market Trends and Segments Forecast To 2028
The global food ingredients market size was valued at around USD 33.68 billion in 2021 and poised to grow at a significant CAGR of 7.9% over 2022-2028. Food ingredients are additions used in food to maintain or improve freshness, safety, nutritional value, flavour, texture, and appearance, among other things. Starches, vegetable oils and fats, natural sweeteners, enzymes and antioxidants, natural flavourings and colours, and functional additives are all examples of food ingredients. Even with the increased need for specialist components, the COVID-19 pandemic was seen affecting market growth in the first few months of lockdowns, where significant firms and organisations around the world revealed their inability to combat logistical concerns. However, the market has been rebounding in recent months, reducing the impact, as the food and beverage industry has faced new issues on a daily basis, the most significant of which is supply chain disruption.
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Consumer preference for a balanced and nutritious diet, as well as increased innovation in new functional ingredients, are likely to fuel market revenue growth over the forecast period. Other factors predicted to fuel market revenue growth during the forecast period include rising acceptance of safe and sustainable food components and rising demand for label-friendly and natural food colourants. Ingredients in food are things that are added to have a desired result. Food ingredients make it easier for food makers to create a wide selection of appealing, nutritious, consistent, and pleasant dishes. Growing consumer demand for healthy, nutritious foods is driving up demand for food ingredients, which is projected to drive up adoption in the near future.
The global food ingredients market segmentation:
1) By Type: Functional Food Ingredient, Specialty Starch and Texturants, Sweetener, Flavours, Acidulates, Preservative, Emulsifiers, Colorants, Enzymes, Cultures, Proteins, Speciality Oils, and Yeast.
2) By Application: Beverages, Sauces, Dressings, and Condiments, Bakery, Dairy, Confectionery, Dried Processed Food, Frozen/Chilled Processed Food, Sweet, and Savoy Snacks, and Other Applications
North America is expected to grow the quickest in the food ingredients market through 2022, followed by Asia-Pacific excluding Japan (APEJ). The market for food components in Japan will continue to grow steadily through 2022. By the end of 2022, the Japanese market will have generated more than US$ 12,600 million in sales. Europe's market will grow at a slower rate than Japan's, but it will generate significantly more income by the end of 2022. Through 2022, the global food ingredients market will expand at a slower pace in the Middle East and Africa (MEA).
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Some of the major key players in the Food Ingredients Market are AlgaVia, Archer Daniels Midland (ADM), Arla Foods Ingredients, Ashland Inc., Butter Buds Inc., Cargill Inc. (USA), Hansen Holding A/S, Corbion Purac (Netherlands), Dupont- Danisco (Denmark)
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