NEW YORK, Sept. 25, 2018 /PRNewswire/ -- The food inclusions market is projected to grow at a CAGR of 8.0% during the forecast period.
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The food inclusions market is estimated at USD 10.74 billion in 2018. It is projected to reach USD 15.78 billion by 2023, at a CAGR of 8.0%. The market is driven by the functional properties, along with the taste trends and responsive development of new flavor profiles that offer new avenues for growth and clean label claims.
The demand for food inclusions in the bakery products and chocolate & confectionery products segment is expected to witness significant growth in the near future.Inclusions were identified and used as novel ingredients in bakery products, which would add new aspects to bakery products and promote consumer indulgence.
Further, the use of chocolate inclusions adds gloss and enhances the taste of products, while also enhancing other organoleptic properties are expected to drive the food inclusions market.
However, use of inclusions increases the final price of the end product, serves as a restraining factor for the growth of the food inclusions market.
The fruit & nut segment is projected to be the fastest-growing for food inclusions market from 2018 to 2023.
Fruit inclusions are among the most extensively used among all inclusions.Their addition to end products provides significant visual impact in terms of vivid color, texture, appearance, along with taste, flavor profile, and other sensory experiences that make them highly appealing to end consumers.
Whereas, nut inclusions, owing to their taste popularity, organoleptic properties, and large consumer preference, also account for a significant consumption in the food inclusions market. Thus, the popularity of fruit & nut flavors among consumers, along with the variety in flavor profiles, has fueled the growth of this segment in the food inclusions market.
The bakery products segment is projected to be the fastest-growing for the food inclusions market from 2018 to 2023.
The market for food inclusions in bakery products is significant, mainly in Western countries such as the US, Canada, and European countries, as bakery products are a part of the everyday diet of consumers in these countries.With consumers in these regions demanding something different in everyday unflavored and flavored bakery products, inclusions were identified and used as novel ingredients in bakery products, which would add new aspects to bakery products and promote consumer indulgence.
Further, growing consumer willingness to spend higher on products and try different variants in bakery products is expected to drive the usage of food inclusions in this segment.
The solid & semi-solid forms of inclusions dominate the food inclusions market.
The solid and & semi-solid forms are segmented into pieces, chips & nibs, nuts, crunches & flakes, and powder.The market share of pieces was the largest in 2017.
The market for nuts is projected to grow at the highest during the forecast period.
Asia Pacific is projected to be the fastest-growing in the food inclusions market for bakery products from 2018 to 2023.
The Asia Pacific region is projected to be the fastest-growing in the food inclusions market for bakery products.The overall economic growth in the Asia Pacific region has led to rapid urbanization and industrialization.
Further, owing to the innovations in the food & beverage segment in this region, Westernization of consumer diets, and consumption of processed & packaged food, supported by economic conditions such as growing disposable income and willingness to spend on premium products are expected to drive the usage of food inclusions in the bakery products segment.
Break-up of Primaries:
• By Company Type: Tier 1 - 25%, Tier 2 - 35%, and Tier 3 - 40%
• By Designation: C-level - 30%, Director-level - 25%, and Manager-level - 45%
• By Region: North America - 25%, Europe - 23%, Asia Pacific - 38%, and RoW – 14%
The leading players in the food inclusions market are Cargill (US), ADM (US), Barry Callebaut (Switzerland), Kerry (Ireland), Tate & Lyle (UK), AGRANA (Austria), Sensient Technologies (US), Puratos Group (Belgium), SensoryEffects (US), Taura Natural Ingredients (New Zealand), Georgia Nut Company (US), Inclusion Technologies (US), Nimbus Foods (UK), IBK Tropic (Spain), TruFoodMfg (US), FoodFlo International (New Zealand), and Confection by Design (UK).
The food inclusions market is segmented on the basis of type, application, form, flavor, and key regions.On the basis of type, the market is segmented into chocolate, fruit & nut, flavored sugar & caramel, confectionery, and others including biscuit, cookie, color, and bean- & plant-based inclusions.
On the basis of application, the market is segmented into cereal products, snacks, and bars; bakery products; dairy & frozen desserts; chocolate & confectionery products; and others (including beverages and soups & salads).On the basis of form, the market is segmented into pieces, chips & nibs, nuts, crunches & flakes, powder, and liquid.
By flavor, the segments studied include fruit, nut, savory, and chocolate & caramel.On the basis of region, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW).
The report also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, competitive landscape, recent developments, market share analysis, and key market strategies.
Key Benefits of Buying the Report:
• To get a comprehensive overview of the food inclusions market with specific reference to the application markets
• To gain a wide range of information about the top players in this industry, their product portfolios, and key strategies adopted by them
• To gain insights into the major regions/countries in which the food inclusions market is flourishing
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