Global Ingredients Market Analysis With Opportunity Segments
Ingredients Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033
LONDON, GREATER LONDON , UK, June 27, 2024 /EINPresswire.com/ -- The ingredients market has experienced significant growth, expanding from $205.41 billion in 2023 to $220.43 billion in 2024 at a CAGR of 7.3%, driven by health and wellness trends, cultural influences, economic factors, supply chain dynamics, and consumer education. This robust growth is expected to continue, with the market projected to reach $304.86 billion by 2028 at a CAGR of 8.4%, fueled by a continued focus on health, globalization of tastes, economic growth in emerging markets, supply chain resilience, and educational initiatives. Key trends during the forecast period include personalization of ingredients, exploration of culinary and exotic ingredients, clean meat and cultured ingredients, innovative sweeteners and flavor enhancers, and zero-waste ingredient utilization.
Increasing Consumer Awareness of Health and Wellness Drives Market Growth
The increasing consumer awareness of health and wellness is expected to propel the growth of the ingredients market going forward. Health refers to a state of complete physical, mental, and social well-being and not merely the absence of disease or infirmity. Wellness is an active process through which people become aware of and make choices toward a more successful existence. Customers are placing a higher priority on their health and are looking for foods and drinks that enhance overall wellbeing and provide additional nutritional value. Health compounds like vitamins, minerals, antioxidants, probiotics, and other functional components are in higher demand as a result of this. For instance, in January 2024, according to the Great Green Wall, roughly 40% of Americans claim to follow their diets and 20% claim to ‘actively seek out healthy foods’. Therefore, the increasing consumer awareness of health and wellness is driving the growth of the ingredient market.
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Key Players
Major companies operating in the ingredients market include Cargill Incorporated, Nestlé S.A., Archer Daniels Midland Company, PepsiCo Inc., The Coca-Cola Company, Danone S.A., Associated British Foods PLC, Kellogg Company, Hermes Sweeteners Ltd., International Flavors & Fragrances Inc., ConAgra Brands Inc., ICL Food Specialties Ltd., Kerry Group PLC, Ingredion Incorporated, Koninklijke DSM N.V., Meiji Co. Ltd., Givaudan SA, Symrise AG, Yakult Honsha Co. Ltd., Ashland Global Holdings Inc., Tate & Lyle PLC, Corbion Purac N.V., Chr. Hansen Holding A/S, Tata Chemicals Limited, Palsgaard A/S, Essentia Protein Solutions, LycoRed Limited, Symega Food Ingredients Ltd., Glanbia PLC, H.C. Brill AG & Co. KG, A.E. Staley Manufacturing Company, ABITEC Corporation, ACH Food Companies Inc., Pacific Harvest Products Inc., Parker Products Inc., Paulaur Corporation, Penford Food Ingredients Co., and Sweetener Supply Corp.
Ingredients Market Trends in Ingredients Market
Major companies operating in the ingredient market are focusing on innovative products such as Virslik to keep yogurt innovation alive and healthy. Virslik is a processing aid that delivers a desirable texture and clean taste, specifically designed to enhance the texture and taste of yogurt products. For instance, in February 2021, DuPont, a US-based chemical company, launched Virslik, a new line of ingredients promoting raising the average protein content of healthy yogurts and, similarly, raising standards for product development. The newest product in a line of solutions that includes cultures, proteins, enzymes, and functional solutions is called Versilk. DuPont's product is designed to help companies become more flexible in addition to being nutritious and tasty. This is because Verslik is a versatile ingredient that enables producers to react swiftly to market changes.
Ingredients Market Segments:
• By Product Type: Starches, Vegetable Oils and Fats, Natural Sweeteners, Enzymes and Antioxidants, Natural Flavorings and Colors, Functional Ingredients, Other Product Types
• By Function: Sweeteners, Emulsifier, Flavors and Color Additives, Preservatives, Fat Replacers, Nutrients, Stabilizers, Thickeners, Binders, Other Functions
• By Application: Beverages, Fortified Food Products, Bakery, Confectionery, Dairy and Dairy Products, Meat and Fish Products, Other Applications
Geographical Insights: North America Leading the Market
North America was the largest region in the ingredients market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global ingredients market report during the forecast period. The regions covered in the ingredients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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Ingredients Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Ingredients Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on ingredients market size, ingredients market drivers and trends, ingredients market major players, competitors' revenues, market positioning, and market growth across geographies. The ingredients market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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