As per the report published by FMI, the global integrated food ingredients market is projected to have a moderate-paced CAGR of 5% during the forecast period. The current valuation of the market is US$ 66.2 billion in 2022. The market value of the integrated food ingredients market is anticipated to reach a high of US$ 91.5 billion by the year 2032.
The experts at FMI have revealed that the surge in consumer preference for healthy food products and the rising adoption of nutritious and sustainable diets among consumers is driving market revenue growth for integrated food ingredients. Furthermore, the growing prevalence of chronic diseases, such as heart disease and diabetes, and concerns regarding the wellness of consumers have made it necessary for food researchers to alter the nutrient content of food.
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FMI has also analyzed that rapid integration of advanced technologies in food production, such as membrane filtration and encapsulation technologies to improve the quality of food products, is fueling demand for integrated food ingredients. Additionally, increasing demand for ready-to-eat food and food products with new flavors and ingredients to enhance the taste is another major factor expected to drive the growth of the market.
However, as per the analysis of FMI, stringent regulations on food additives may curb the growth of the forum in the long run, coupled with the high cost associated with the development and innovation of food ingredients and the dearth of infrastructure within the market.
Key Takeaways from the Integrated Food Ingredients Market Study:
- North America is currently accountable for a market share of 38% in the integrated food ingredients market.
- The Frozen Food segment is projected to advance at a CAGR of 5.98% during the forecast period.
- The Functional Ingredients segment is projected to record a CAGR of 5% during the period 2022-2032.
- As per FMI, China will account for a CAGR of 5.3% over the forecast period.
- The global integrated food ingredients market is forecasted to surpass US$ 91.5 Bn by the end of 2032.
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“The consumer’s preferences are changing continuously in response to diet-conscious healthy habits and foreign direct investment in the food and beverage sector is curating lucrative growth opportunities for the market players prevailing in the integrated food ingredients market” – Says an FMI Analyst.
Competitive Landscape in the Integrated Food Ingredients Market
To modernize and enliven their products, manufacturers are concentrating on adding ethnic flavors. Additionally, a rise in the number of online food suppliers has put the top players in the industry at risk of competition due to their adept production methods, premium ingredients, and openness about their production and sourcing practices.
The manufacturers are focusing on the trend of plant-based ingredients as it is paving the way for the development of the global market. The key players are frequently innovating their products and producing consumables that contain natural ingredients and minimal processing. They are vividly focused on consumers’ needs and preferences to invest more in natural products.
Archer Daniels Midland Company, BASF SE, Cargill, Incorporated, E. I. du Pont de Nemours and Company, Firmenich SA are some of the key players in the market.
Recent Developments in the Integrated Food Ingredients Market
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- In February 2019, Motif Ingredients, a US-based food ingredients company is leveraging biotechnology to develop unique food solutions that provide consumers more options without sacrificing taste or nutrition.
- In December 2019, PureCircle, the world’s leading producer and innovator of stevia launched Sigma Syrup, which is a great testing stevia leaf sweetener with advanced solubility properties.
- In January 2018, Arjuna Natural Ltd. India, launched Natural Preservatives to extend the shelf life of frying oil which will slow down the oxidative degradation of frying oil and extend the shelf life the oil.
- In 2016, Food and Drug Administration of the U.S. announced Guar Gum as a natural substance and can be used in food products up to a specified limit.
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