LONDON, Jan. 5, 2017 /PRNewswire/ --
The caramel ingredients market is projected to grow at a CAGR of 7.5% during the forecast period to reach USD 2.65 billion by 2021. The market is driven by factors such as increase in the demand for caramel in the confectionery industry owing to the ever-changing consumer's taste preferences. The high growth potential in emerging markets and untapped regions provide new growth opportunities for market players.
"Toppings segment is projected to grow at the highest rate"
Among the types of caramel ingredients, the topping segment is projected to grow at the highest rate in the global caramel ingredients market. Factors such as increasing trend of dining outside and the importance of food decoration have led to an increased demand for caramel topping.
"Powder or granular segment is projected lead the market in terms of growth rate"
Among the forms of caramel ingredients, the powder or granular segment is projected to grow at the highest rate in the global caramel ingredients market. Its longer shelf life and increased use in packaged food & beverage products have led to an increased demand for powder/granular form of caramels.
"Asia-Pacific is projected to lead the market in terms of growth rate"
On the basis of region, the caramel ingredients market is led by the Asia-Pacific region. The economic growth in Asian countries such as China, India, Japan, and Australia-New Zealand offers great market investment opportunities to the food & beverage manufacturers. These countries are expected to become major regional markets that would contribute to the growth of the global caramel ingredients market in the near future.
BREAKDOWN OF PROFILE OF PRIMARY PARTICIPANTS
- By Company Type: Tier 1 – 40 %, Tier 2 – 40% and Tier 3 – 20%
- By Designation: C level – 40%, Director level – 20%, Manger level –40%
- By Region: North America – 12%, Europe– 25%, Asia-Pacific – 50%, Middle East –13%
Leading players such as Kerry Group -, Cargill, Incorporated. -, Sensient Technologies Corporation -, Puratos Group -, and Sethness Caramel Color -, DDW The Colour House -, Nigay -, Metarom -, Martin Braun KG -, Göteborgsfood Budapest ZRT -, and Bakels Worldwide - have dominated the caramel ingredients market.
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