The global clean label ingredients market is set for 6.4% CAGR during the forecast period (2019 – 2029), as projected by a new report of Future Market Insights (FMI). The growth is primarily fueled by increasing disposable income and improving spending power of consumers, further complemented by growing awareness about health benefits of clean label ingredients.
“Developed regions continue to lead the way in global clean label ingredients market owing to high awareness among consumers. However, consumers of Asia Pacific and MEA are also developing lucrative markets for manufacturers recently,” says the report.
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Clean Label Ingredients Market: Key Findings
- Dry ingredients are witnessing heavy demand on the back of consumers’ willingness to spend on high priced but quality food.
- Clean label flours will continue to lead the market, with a majority of the share.
- Fruit & vegetable ingredients are poised for a higher growth rate during the forecast period.
- Clean label ingredients are finding significant application in the prepared food and ready meal categories.
- Adoption in cereals & snacks is also projected to considerably grow in the foreseeable future.
Clean Label Ingredients Market: Key Driving Factors
- Rising demand for chemical-free and natural products is propelling the utilization of clean label ingredients, thus further boosting the market.
- Rapid urbanization and the rising population are leading to an upsurge in the demand for packaged food, thereby bolstering the sales of clean label ingredients.
Clean Label Ingredients Market: Key Restraint
- The high cost of the clean label ingredients may limit the sales, thus hindering the growth of the market.
Competition Landscape of Clean Label Ingredients Market
Some of the key players in the global clean label ingredients landscape that are covered in this study include, but are not limited to, Cargill, Brisan, Archer Daniels Midland Company, Sensient Technology Corporation, Corbion N.V., Koninklijke DSM N.V., Kerry Group PLC, Tate & Lyle PLC, Beneo, Arjuna Naturals Extracts Ltd, and E.I. Dupont De Nemours and Co., among others. To stand out in the competition, the market players are expanding their product portfolio and improving the sourcing process.
More About the Report
This Future Market Insights study of 200 pages offers actionable insights on the clean label ingredients market. The market analysis is based on the product (natural colors, natural flavors, starch & sweeteners, flours, fruit and vegetable ingredient, and culinary products), application (beverages, cereals and snacks, dairy and frozen dessert, bakery, and prepared food), form (dry and liquid), across seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA)