(I-BusinessNews.Com, July 18, 2020 ) The report “Fat Replacers Market by Type (Carbohydrate-based, Protein-based, Lipid-based), Application (Bakery & Confectionery, Dairy & Frozen Desserts, Convenience Food & beverages, Sauces, Dressings, and Spreads), Form, Source, and Region – Global Forecast to 2022″, The fat replacers market is estimated to be USD 1.48 Billion in 2017, and projected to reach USD 2.01 Billion by 2022, at a CAGR of 6.2% from 2017. The market is driven by factors such as increase in awareness about health & wellness and the rise in prevalence of obesity.
The global fat replacers market was dominated by North America in 2016. Asia Pacific is projected to be the fastest-growing market from 2017 to 2022. The change in consumersÂ eating habits in terms of western cuisine, as well as the growth in the processed food industry, has led to the need for fat replacers.
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The global fat replacers market is characterized by moderate to low competition. Expansions & new product launches are the key strategies adopted by the key market players to ensure their growth in the market. The market is dominated by players such as ADM (US), DuPont (US), Cargill (US), Kerry Group (Ireland), FMC Corporation (US), Ingredion (US), Koninklijke DSM (Netherlands), and Ashland Inc (US).
Archer Daniels Midland Company (US)
ADM is a key player in the agriculture and food processing industry. It is engaged in the production of food ingredients, animal feed & feed ingredients, and biofuels. Its three business segments include oilseed processing, corn processing, and agricultural services. In the fat replacers market, ADM has a strong presence in Europe and North America.
It strives to enter and expand its business in the fat replacers market through efficient research & development, which has helped the company to offer innovative products to enhance its product line. This has resulted in sufficient profit generation. Additionally, its expansion and investment strategies have helped it to maintain its market position among competitors. For instance, in September 2015, the company set up a new innovation center in Kentucky, US, which will help the company enhance its information technology and support.
Cargill offers products for industries such as food, agriculture, financial & industrial, pharmaceutical, and personal care products & services with more than 150 years of industry experience. The company is established as an international food conglomerate, with its wide range of offerings covering most of the sectors of the food & beverage industry. Cargill is one of the major players in the fat replacers market. It has a wide portfolio of products in the food industry, such as convenience foods and bakery products. The company focuses on expansions and new product launches to grow its geographic presence in untapped areas. For instance, in November 2015, it launched CÂ¡ÃCreamTex 06329, a modified starch specifically designed to improve the texture and mouthfeel of the finished product.
Mr. Aashish Mehra