The overall caramel ingredients market is expected to grow from USD 3 billion in 2022 to USD 6 billion by 2032, at a CAGR of 8.0%. Revenues in the confectionery product segment of the Caramel Ingredients Market grew a robust 6.8% year over year in 2022. Demand for colors and flavors segment increased by 9.2% between 2017 and 2022, giving the combined Caramel ingredients markets year-over-year growth of 8.0% in 2022, according to the FMI report titled
According to the Future Market Insights analysis, Nestle, Mars Inc., Kerry Group, Bakels Worldwide, Cargill Incorporated, Göteborgsfood Budapest ZRT, Sensient Technologies Corporation, Ferrero Martin, Braun KG, Puratos Group, Haribo, Metarom, Sethness Caramel Color, Nigay, DDW The Color House are identified as Key Players in the Caramel ingredients market
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It includes in-depth insights into the caramel ingredient market. Some of these are:
- The estimated value of the market was at US$ 2.7 Bn in 2019. Through the course of the report’s forecast period, the market is exhibited to show a steady pace of growth.
- North America is the market leader and closely followed by Europe.
- Asia Pacific is expected to emerge as the region’s fastest rising caramel ingredients market.
- Increasing disposable income in Asia Pacific countries prompted consumers in the region to look for bakery and confectionery items, which in turn increased the demand for caramel ingredients in the field.
- The Asia Pacific, South America and Middle East & Africa bakery industry is booming and is expected to create lucrative growth opportunities for caramel ingredient manufacturers in the coming years.
- Restricted retail use of confectionery products is likely to hinder opportunities for growth of caramel ingredients in the coming years due to health problems.
- Leading players are likely to focus on increasing their portfolio strength and expanding geographical reach to gain competitive advantage.
COVID-19 Outbreak May Lead to Economic Instability Impacting Growth
The concept of caramel ingredient set the trend of fancy food eating, cake & ice-cream decoration, as well as fusion in traditional dishes. Therefore, as the pattern of packaged food is rapidly changing due to longer shelf life, the preference is for the type of powdered and granular caramel ingredient over others.
In addition, the use of caramel ingredients raised in everyday life for an average living population as the preference to dine outside has increased, as a result of which food producers have started to concentrate on making their food products more appealing and desirable to the consumer with the help of caramel ingredients. In addition, busy lifestyles have modified global cooking and eating patterns, people prefer frozen bakery items, and are prepared to eat foods over traditional slow cooks.
Customer reluctance on the verge of increasing COVID-19 outbreak has led to considerable confusion about consumer demand. Given the health risks, strong global concerns about the coronavirus pandemic have largely but negatively affected the global functioning of the caramel ingredient industry and consumer mind-set. Although the prices of F&B goods and agricultural produce have remained stable, a prolonged COVID-19 outbreak would result in economic uncertainty and food inflation.
Although the short-term impacts are more apparent, it remains to be known what long-term impacts and extent of impact the COVID-19 outbreak would have on the supply chain.
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Who is Winning?
The market players accounting for global caramel ingredient agents market includes Nestle, Mars Inc., Kerry Group, Bakels Worldwide, Cargill Incorporated, Göteborgsfood Budapest ZRT, Sensient Technologies Corporation, Ferrero, Martin Braun KG, Puratos Group, Haribo, Metarom, Sethness Caramel Color, Nigay, DDW The Color House. The caramel ingredient market’s major companies concentrate primarily on new product range launch, growth, and development of sorts.
However, increase in low-carb diet intake, driven by increasing health issues, continues to be a roadblock to market. As a result, many manufacturers have started manufacturing caramel alternatives which poses a market challenge.
Segmentation Analysis of Global Caramel Ingredients Market
The Global Caramel Ingredients Market can be segmented on the basis of Type, Application, Form, and Geography.
by type
- Inclusions
- Fillings
- Toppings
- Shades
- Flavours
- Others
by way of application
- Confectionery products
- Ice creams & cakes
- Bakery products
- Beverages
- Alcoholic
- Non-alcoholic construction
- Others
by way of form
- Stable
- Liquid
- Powder or Granular
using Geography Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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Frequently Asked Questions
- What was the market for caramel ingredients worth in 2021?
- At what CAGR is the market poised to expand through 2032?
- How has the performance of caramel ingredients been over the past half-decade?
- What are the drivers and restraints of caramel ingredients market?
- Who are the key players operating in the market?
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