Market Size – USD 33.67 billion in 2018, Market Growth - CAGR of 7.8%, Market Trends – Rapidly rising population and higher urbanization have boosted global demand for processed food products, driving food demand.
The Food Ingredients Market is forecasted to grow from USD 33.67 billion in 2018 to USD 63.11 billion by 2027, at a CAGR of 7.8%, during the forecast period. A rapidly rising population and higher urbanization have boosted global demand for processed food products, driving food demand.
Rapid urbanization and rising population density with their growing purchasing power has led to rapid adoption of convenience foods, leading to demand for different food ingredients. Consumers are becoming more health - conscious and demanding for natural food ingredients with the increase in foodborne diseases. Over the past decade, the number of women in the workforce has seen a tremendous surge in demand for ready - to - eat foods.
The market for Japan is forecasted to reach USD 21.14 million in revenue in 2026. Europe's market will record a lower CAGR than Asia Pacific’s market, but by 2026-end it will account for comparatively larger revenues. By 2026, the Middle East and Africa (MEA) will register a relatively slower expansion on the global market for food ingredients.
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Further key findings from the report suggest
- The Food Ingredients Market is forecasted to grow from USD 33.67 billion in 2018 to USD 63.11 billion by 2026, at a CAGR of 7.8%, during the forecast period. A rapidly rising population and higher urbanization have boosted global demand for processed food products, driving food demand.
- In 2018, the market for enzymes was valued at USD 3.17 Billion, while in 2018 the market for preservatives was valued at USD 3.41 Billion. Within hydrocolloids, a CAGR of 7.76% during the forecast period is expected to occur in the natural antioxidants segment.
- The bakery segment is expected to reach USD 20.16 Billion in 2026, at a CAGR of 8.63%. Whereas the market for meat and meat products is expected to grow the third highest and is expected to reach USD 11.34 Billion in 2027, at a CAGR of 7.03%.
- The market for Asia Pacific (APAC) is expected to reach USD 20.79 Billion in 2026, at a CAGR of 9.97%. Developing regions are the fastest growing consumer of food enzymes as their per capita income increases the demand for packaged food. Europe is the world's second-largest consumer and producer of food enzymes, and is expected to hold ~28% of the global market share in 2027. North America is expected to see the highest growth rate of 10.12% on the market for enzymes due to changing consumer lifestyles and increased nutritional awareness.
- The major players in the market are Kerry Group (Ireland), Cargill Inc. (US), Corbion Purac (Netherlands), Stevia First Corporation (US), Hermes Sweeteners Ltd (Switzerland), Tate & Lyle Plc (UK), Archer Daniels Midland (US), Riken Vitamin (Japan), Palsgaard (Denmark) and Dupont- Danisco (Denmark).
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Segments covered in the report:
This report forecasts volume and revenue growth at a global, regional & country level, and provides an analysis on the industry trends in each of the sub-segments from 2016 to 2026. For the purpose of this study, Reports and Data have segmented the market on the basis of type, applications and regional analysis.
Type (Kilo Tons and Revenue, USD Million; 2016-2027)
- Natural Antioxidants
- Bulk Sweeteners
- High Fructose
- Sugar Substitutes
- Sorbitan Esters
- Calcium compounds
- Sodium compounds
- Silicon Dioxide
- Gelatin Gum
- Xanthan Gum
- Food Flavors and Enhancers
- Natural Extracts
- Fruit flavors
- Monosodium Glutamate
- Food Colorants
- Synthetic Food
- Natural Food
- Citric Acid
- Phosphoric Acid
- Lactic Acid
Application (Kilo Tons and Revenue, USD Million; 2016-2027)
- Meat and Meat Products
- Dairy Products
Region (Kilo Tons and Revenue, USD Million; 2016-2027)
- North America
- Rest of the Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of LATAM
- Middle East & Africa
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