(I-BusinessNews.Com, March 21, 2020 ) The caramel ingredients market is expected to grow from USD 1.72 billion in 2015 to USD 2.65 billion by 2021, at a CAGR of 7.5% from 2016 to 2021. Carmel ingredients are used in various applications in the food & beverage industry: as a filling, topping, colorant & flavorant, inclusion, coating, and icing. In the food & beverage industry, they find applications in confectioneries, desserts, bakery products, carbonated beverages, and alcoholic beverages.
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Rising trend of food decoration to drive the toppings segment
The toppings segment is projected to grow at the highest rate during the forecast period. Furthermore, increasing trend of dining outside has increased the importance of food decoration due to which food manufacturers are concentrating on making their products more appealing to the consumers which is expected to fuel the demand for caramel toppings.
Changing lifestyles to increase the demand for ice creams & desserts application
Based on food application, the ice creams & desserts segment is projected to be the fastest growing. Changing dietary habits due to factors such as changing consumer lifestyles, increasing consumption of out-of-home desserts, and inclusion of various non-traditional products such as ice creams and cakes in desserts has led to an increased demand for ice creams & desserts.
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Untapped market potential for key players in the Asia-Pacific region
The demand for caramel ingredients is expected to increase in the Asia-Pacific region owing to factors such as rising disposable incomes and urbanization in countries such as China, India, and Australia-New Zealand. Furthermore, the rising consumer awareness about the benefits of clean/natural label colors and flavors in Asian countries is expected to offer growth opportunities to caramel ingredients manufacturers.
This report includes a study of marketing and development strategies, along with the product portfolio of leading companies. It includes the profiles of leading companies such Kerry Group (Ireland), Cargill, Incorporated. (U.S.), Sensient Technologies Corporation (U.S.), Puratos Group (Belgium), and Sethness Caramel Color (U.S.), DDW The Colour House (U.S.), Nigay (France), Metarom (France), Martin Braun KG (Germany), Göteborgsfood Budapest ZRT (Hungary), and Bakels Worldwide (Switzerland).
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