Global Caramel Ingredients market overview 2024, Forecast To 2033
1 Mar, 2024
The caramel ingredients market has demonstrated strong growth, escalating from$2.64 billion in 2023 to$2.84 billion in 2024, exhibiting a compound annual growth rate (CAGR) of 7.8%. The historic growth can be credited to the expanding food and beverage industry, consumer preferences for sweet flavors, diverse applications in confectionery, popularity in dairy products, demand for premium and artisanal products, and culinary uses in sauces and toppings, catering to globalization trends in food preferences. Projections indicate continued strong growth, with the market expected to reach$3.74 billion by 2028, with a CAGR of 7.1%. This growth is driven by innovation in caramel flavors, expanding applications in health foods, growing demand for natural sweeteners, inclusion in ethnic and regional cuisines, utilization in ready-to-eat meals, and the expansion of the artisanal chocolate market. Notable trends in the forecast period include clean label and natural ingredients, plant-based caramel ingredients, sugar reduction and alternatives, clean manufacturing processes, packaging innovations, health and wellness considerations, online retailing and e-commerce, and partnerships and collaborations.
Global Caramel Ingredients Market Key Driver
The growth in the convenience food industry is driving the caramel ingredients market. Convenience food is a food type, usually a whole meal, that is professionally pre-prepared and needs only minimal additional preparation on the part of the consumer. The lifestyle, tastes, and preferences of consumers are rapidly changing. Due to a lack of time to prepare home-cooked food and a willingness to experiment and explore different tastes, people are shifting toward convenience food. Numerous convenience foods can be enhanced in flavor and appearance using caramelized sugars and caramel colors. Stocks, bouillons, dry mixes for soups and sauces, marinades, seasoning and spice mixes, and other products are all given a fuller, more rounded flavor and uniform color by adding caramelized sugars. According to a Syntegon report from March 2021, pre-packaged readymade meals, prepared meal kits, frozen dishes, and desserts led to a 32% growth in convenience food sales. Therefore, the increase in demand for convenience foods will propel the caramel ingredients market. The caramel ingredients market reached $XX billion in 2023 and is expected to maintain steady growth through 2024 and into 2028.
Get A Free Sample Of The Global Caramel Ingredients Market ReportGlobal Caramel Ingredients Market Segments
The global caramel ingredients market covered in this report is segmented –
1) By Type: Fillings, Toppings, Inc.lusions, Colors, Flavors, Other Types
2) By Form: Solid, Liquid, Granular, Powder
3) By Application: Confectionery Products, Ice Creams And Cakes, Bakery Products, Beverages, Alcoholic, Non-Alcoholic Construction, Other Applications
By Geography: The regions covered in the caramel ingredients market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
Asia-Pacific was the largest region in the caramel ingredients market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the caramel ingredients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Caramel Ingredients Industry Players
Alvin Caramel Colours Private Ltd., Bakels Group, Cargill Inc., DDW The Color House, Sethness-Roquette, Kerry Group PLC, Sensient Technologies Corporation, Puratos Group, Martin Braun KG, Göteborgsfood Budapest ZRT, METAROM GROUP, Nestlé SA, Mars Incorporated, The Hershey Company, Archer Daniels Midland Company, Tate & Lyle PLC, Ingredion Incorporated, Royal DSM NV, DuPont de Nemours Inc., Chr Hansen Holding A/S, Givaudan SA, Symrise AG, International Flavors & Fragrances Inc., Kanto Chemical Co Inc., Aarkay Food, Colorcon Group Ltd., Döhler Group SE & Co KGaA, WILD Flavors GmbH, Firmenich SA
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Caramel Ingredients Market Overview
Caramel ingredients refer to ingredients made up of golden-brown to dark-brown substances produced by boiling sugar at a high temperature. The caramel ingredients have a sweet, nutty, buttery, or bitter flavor and are used mainly as a coloring and flavoring agent. Caramel is used in making candies, desserts, or drinks to give them flavor. Several delicacies, including chocolates, caramel corn, and peanut brittle, use caramel as a binding agent.
Caramel Ingredients Global Market Report 2023 provides data on the global caramel ingredients market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The caramel ingredients market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.