The global clean label ingredients market size is expected to reach US$ 72.7 Bn by the end of 2029. According to a study by Future Market Insights (FMI), the market will show a steady rise at 6.4% CAGR between 2019 and 2029. According to the report, the rising demand for organic and natural products will stoke growth in the market. The report offers a comprehensive overview of the market, covering key growth drivers, restraints, opportunities, and prevailing trends. It uses unique research methods to offer the most accurate analysis of the market.
The rising awareness among consumers will drive clean label ingredients market. In addition to this, the market will benefit from their increasing disposable incomes and consequent willingness to spend on organic food. In developed markets, sales are likely to remain high, aided by the presence of high awareness among consumers. Also their purchasing power is comparatively high, which will support the growth of the market.
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It includes in-depth insights into the clean label ingredients market. Some of these are:
- The estimated value of the market was at US$ 39.1 Bn Mn in 2019. Through the course of the report’s forecast period, the market is exhibited to show a steady pace of growth.
- Regionally, Europe emerged as a key market for clean label ingredients.
- North America and Asia will remain steady as key markets for clean label ingredients.
- Prepared food and ready meals category is expected to remain dominant in terms of application.
- Key players are likely to focus on product innovations to stay relevant in developed markets.
“Consumers across Europe are highly aware about the benefits of consuming clean label ingredients, which is one of the chief growth drivers. In addition to this, the demand for clean label products is rising in regions such as Africa and Asia Pacific giving impetus to the market’s growth,” said a lead analyst at FMI.
Increasing Awareness about Healthy Living and Food Will Boost Growth
Globally consumers have not only become more aware about healthy living and eating, but have a higher disposable income supporting their willingness to spend on better quality and organic food. This is one of the chief drivers of the overall market. Furthermore, the demand for chemical free and natural products has risen, which is aiding its growth around the world. Also due to rapid urbanization and subsequently rising population, there is a considerable surge in the demand for packaged food. Spurred by these factors, the global clean label ingredients market will witness impressive growth in the coming years
Who is Winning?
Some of the leading players operating in the clean label ingredients market are 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, E.I. Dupont De Nemours and company.
As a result of increasing competition, clean label ingredient manufacturers are focusing on expanding their product portfolio and improving sourcing process. Their expansion strategies are further aided by agreements between them and local players across emerging market. These companies are particularly focusing on catering to changing consumer preference across various applications.
In addition to this, mergers and acquisition remains a popular strategy among market players. Companies intend to expand their regional footprint through strategic collaborations.
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Get Valuable Insights into Clean Label Ingredients Market
Future Market Insights, in its new report, presents an unbiased analysis of the global clean label ingredients market, covering historical demand data and forecast figures for the period between 2019 and 2029. The study divulges compelling insights into growth witnessed in the market. In terms of product, the market can be segmented into natural colours, natural flavours, starch & sweeteners, flours, fruit and vegetable ingredient and culinary products. Based on application, the market can be classified into beverages, cereals and snacks, dairy and frozen dessert, bakery and prepared food. Based on form, the market can be bifurcated into dry and liquid. Regionally, the market can be segmented into North America, Latin America, Europe, East Asia, South Asia, Oceania and MEA