PUBLISHER: Allied Market Research | PRODUCT CODE: 1344426
PUBLISHER: Allied Market Research | PRODUCT CODE: 1344426
According to a new report published by Allied Market Research, titled, "Food Ingredients Market," The food ingredients market size was valued at $270.2 billion in 2021, and is estimated to reach $475.4 billion by 2031, growing at a CAGR of 5.8% from 2022 to 2031.
Different types of food ingredients have evolved to satisfy the demands of food production, as producing food on a big scale differs greatly from producing it on a small scale at home. Food ingredients guarantee that processed food is safe and in excellent condition when it travels from factories or industrial kitchens to warehouses & stores, and eventually to customers. Food components are only justifiable when they serve a technological necessity, do not mislead customers, and perform a well-defined technological purpose, such as preserving nutritional quality or increasing food stability.
Consumers' daily schedules have become hectic over the years, necessitating a lifestyle change to tackle the daily chores. Lifestyle change is negatively impacting the health of people and is becoming a major cause of health difficulties such as obesity, cardiovascular illness, and vitamin deficiencies. The response to this aforementioned problem is that food and nutraceutical manufacturing companies have developed products that are high in minerals, alkaloids, antioxidants, and protein by using quality nutritional ingredients. To address such demands, market players are introducing novel and innovative products. For instance, XLS Medical, a subsidiary of Perrigo Company Plc., launched a new range of meal replacement drinks, Active Shape in three flavors, including chocolate, strawberry, and vanilla. Customers are encouraged to shift from sweetened beverages to nutritional foods due to the associated health benefits such as colon cleansing capabilities, anti-aging, and skin hydration properties.
Food ingredients such as thickeners have nutritional value and manufacturing companies are focusing on utilizing the ingredients to increase the value of the food products. The use of thickeners in food leads to several health benefits. For instance, food thickeners such as arrowroot are beneficial for sensitive digestive systems, cellulose gum helps to reduce fat, kudzu root helps to reduce high blood pressure, regulate blood sugar, relieve chronic migraines, and ease muscular tension; agar-agar helps to lower cholesterol and glucose levels in individual with diabetes mellitus. Food thickeners reduce dysphagia risk in patients by providing greater swallowing ease. It also benefits patients with trauma, old age, cancer, and neurology disorder who suffer from difficulty in swallowing food. Thus, consumer preference towards food thickeners is increasing to stay healthy and safe; which is expected to exhibit growth in the overall food ingredients market in coming years.
The food ingredients market is segmented into type, application, and region. Depending on the type, the market is classified into flavors, color additives, preservatives, fat replacers, sweeteners, stabilizers, emulsifiers, & binders, thickeners, pH control agents, nutrients, and others. Depending on the application, it is segregated into food & beverages, nutraceuticals, and animal feed. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Russia, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, UAE, South Africa, and rest of LAMEA).
Players operating in the global food ingredients market have adopted various developmental strategies to expand their food ingredients share, increase profitability, and remain competitive in the market. The key players profiled in this report include Ajinomoto, Inc., Archer Daniels Midland Company, Associated British Foods plc, Cargill, Incorporated, Celanese Corporation, DuPont de Nemours, Inc. (Danisco), Ingredion Incorporated (TIC Gums, Inc), Kerry Group, Roquette Freres, Sudzucker Group (BENEO), Tate and Lyle PLC, Akzonobel N.V., BASF SE, Clariant AG, Evonik Industries AG, Koninklijke DSM N.V., Solvay SA, Kemin Industries, Inc., Chemelco International B.V., Givaudan International S.A. (Naturex S.A.), Palsgaard A/S, Univar, Inc., Corbion NV, Huber Corporation(CP Kelco U.S., Inc.), Kao Corporation, Nexira SAS, Jungbunzlauer Holding AG, Ashland Global Holdings Inc., Fuerst Day Lawson Limited, ATP Group, Novozymes, Aromata Group S.r.L (Fiorio Colori S.p.A), Kalsec, Inc., Glanbia PLC (Ireland), and Mead Johnson & Company, LLC.