The food ingredients market consists of food ingredients sales by entities (organizations, sole proprietorships, and partnerships) that produce food ingredients that are added to food to improve taste, texture, and appearance. Food additives are substances applied to foods to achieve specific technical or functional goals during production, storage, or packaging. Food ingredients are used to improve safety and freshness and maintain the nutritional value of the food.
Global Food Ingredients Market Size And Drivers:
The global food ingredients market is expected to grow from $38.86 billion in 2020 to $42.88 billion in 2021 at a compound annual growth rate (CAGR) of 10.3%. The growth in the food ingredients market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The food ingredients market is expected to reach $59.83 billion in 2025 at a CAGR of 8.7%. The increase in the awareness of fitness among people and the growing number of health-conscious consumers are expected to drive the market for food ingredients during the forecast period.
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Trends In The Global Food Ingredients Market
The introduction to technologically advanced solutions is an emerging trend in the food ingredients market. Major food ingredients firms are concentrating on developing innovative solutions for food ingredients to provide global food industries with next-generation alternative proteins and other ingredients. For instance, 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.
Global Food Ingredients Market Segments:
The global food ingredients market is further segmented –
By Product Type: Starches, Vegetable Oils And Fats, Natural Sweeteners, Enzymes And Antioxidants, Natural Flavorings And Colours, Functional Ingredients, Others
By Function: Sweeteners, Emulsifier, Flavors And Color Additives, Preservatives, Fat Replacers, Nutrients, Stabilizers, Thickeners, Binders, And Texturizers, Ph Control Agents And Acidulants, Others
By Application: Pharmaceuticals, Food And Beverages, Animal Feed, Others
By Geography: The global food ingredients market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American food ingredients market accounts for the largest share in the global food ingredients market.
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Food Ingredients Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides food ingredients market overviews, analyzes and forecasts market size and growth for the global food ingredients market, food ingredients market share, food ingredients market players, food ingredients market segments and geographies, food ingredients market’s leading competitors’ revenues, profiles and market shares. The food ingredients market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
