NEW YORK, Jan. 10, 2017 /PRNewswire/ -- "The clean label ingredients market projected to grow at a CAGR of 6.60%"
The clean label ingredients market is projected to reach 47.10 billion by 2022 at a CAGR of 6.60% from 2016. The market is driven by factors such as the rise in clean label product launches that is fueled by increase in consumer demand for clean label food products to drive consumption of clean label ingredients and health issues associated with artificial food additives and food safety incidents. Limitation/inability of clean ingredients to replace artificial ingredients and high cost of clean ingredients leading to increased cost of clean label products are the major restraints for this market.
"Flour is projected to be the largest segment in the clean label market by 2022"
The flour segment accounted for the largest market share in the clean label ingredients market, due to its large consumption in a variety of application in bakery, packaged foods, beverages, dressing & sauces, and confectionery among other food applications. Natural colors is projected to be the fastest growing segment from 2016. This growth is attributable to the growing concern among consumers about the ill effects of artificial colors on their health, their eco-friendly nature, and additional health benefits.
"Prepared food/ready meals & processed foods segment led the market with the largest share in 2015"
The prepared food/ready meals & processed food segment accounted for the largest share of the clean label market, by application, in 2015. The dominance of this application can be attributed to the busy lifestyles and convenience in usage and growing awareness among consumers about the ill-effects of artificial food additives such as preservatives, flavors, and colors. Natural colors is projected to be the fastest growing segment from 2016. This growth is attributable to the growing concern among consumers about the ill effects of artificial colors on their health, their eco-friendly nature, and additional health benefits.
"The dry form is projected to be the largest and fastest-growing segment by 2022"
The dry form is the largest and the fastest growing segment. This is due to its stability and ease in handling during supply chain activities. Furthermore, ease in production at lower costs together with their convenience in usage in a wide range of food & beverage products has further driven the demand for the dry form of ingredients.
"Europe led the market with the largest share in 2015"
Europe was the largest clean label market in 2015. The European market has the highest number of clean label products due to which it has the highest consumption of clean label ingredients. Asia-Pacific is projected to be the fastest growing region. Growing consumer awareness and increasing health consciousness with regards to the ill effects of artificial ingredients is driving the demand for clean label ingredients in the Asia-Pacific region.
The breakdown of the primaries on the basis of company, designation, and region, conducted during the research study, is as follows:
- By Company type: Tier 1 – 35%, Tier 2 – 30%, and Tier 3 – 35%
- By Designation: Director Level – 33%, C Level – 22%, and Others – 45%
- By Region: North America – 17%, Europe – 26%, Asia-Pacific – 38%,and RoW – 19%
Key players include:
- Cargill (U.S.)
- Archer Daniels Midland Company (U.S)
- Koninklijke DSM N.V. (Netherlands)
- E. I. du Pont de Nemours and Company (U.S.)
- Kerry Group plc (Ireland)
The above-mentioned companies have collectively accounted for the largest portion of the clean label ingredients market in 2015. Other players with a strong presence in this market are as follows:
- Ingredion Incorporated (U.S)
- Tate & Lyle PLC (U.K)
- Sensient Technologies Corporation (U.S)
- Corbion N.V. (Netherlands)
- Groupe Limagrain (France)
- Chr. Hansen A/S (Denmark)
- Brisan (U.S)
The key players in the market adopted new product launches as their key growth strategy to increase their market share and profits. New product launches accounted for the highest percentage of the total developments, followed by expansions.
The report provides a picture on the clean label ingredients market across different applications verticals and regions. It aims at estimating the market size and future growth potential of this market across different segments such as application, form, type, and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analysis, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market by providing them the closest approximations of the revenue numbers for the overall clean label ingredients market and the subsegments. This report will help stakeholders to better understand the competitor landscape and gain more insights to better position their businesses and make suitable go-to-market strategies. The report will also help the stakeholders to understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
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