Ingredients Market Size, Analysis, Trends And Strategies 2024-2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Ingredients Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The ingredients market size has grown strongly in recent years. It will grow from $205.41 billion in 2023 to $220.43 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to health and wellness trends, cultural and ethnic influences, economic factors, supply chain dynamics, marketing and consumer education.

The ingredients market size is expected to see strong growth in the next few years. It will grow to $304.86 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to continued health focus, globalization of tastes, economic growth in emerging markets, supply chain resilience, and educational initiatives. Major trends in the forecast period include personalization of ingredients, culinary and exotic ingredients exploration, clean meat and cultured ingredients, innovative sweeteners and flavor enhancers, and zero-waste ingredient utilization.

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Key Market Players:

Major companies operating in the ingredients market report are Cargill Incorporated, Nestlé S.A., Archer Daniels Midland Company, PepsiCo Inc., The Coca-Cola Company, Danone S.A., Associated British Foods plc, Kellogg Company, Hermes Sweeteners Ltd., International Flavors & Fragrances Inc., ConAgra Brands Inc., ICL Food Specialties Ltd., Kerry Group plc, Ingredion Incorporated, Koninklijke DSM N.V., Meiji Co. Ltd., Givaudan SA, Symrise AG, Yakult Honsha Co. Ltd., Ashland Global Holdings Inc., Tate & Lyle plc, Corbion Purac N.V., Chr. Hansen Holding A/S, Tata Chemicals Limited, Palsgaard A/S, Essentia Protein Solutions, LycoRed Limited, Symega Food Ingredients Ltd., Glanbia plc, H.C. Brill AG & Co. KG, A.E. Staley Manufacturing Company, ABITEC Corporation, ACH Food Companies Inc., Pacific Harvest Products Inc., Parker Products Inc., Paulaur Corporation, Penford Food Ingredients Co., Sweetener Supply Corp., TeaTech Inc.

Market Drivers:

Increased instances of fast-food trends among the millennial population are expected to boost the growth of the ingredients market going forward. Fast foods are defined as quick, convenient, and inexpensive alternatives to home-cooked meals. Fast food making involves many ingredients like salt, sugar, processed chemicals and others, hence, it is expected to boost the sales of ingredients. For instance, according to the Fast-Food Statistics 2021 report, in the USA, 23% of the adults eat fast food meals three or more times a week while 34% of children aged 2 to 19 years eat fast food daily and 80% of Americans visit a fast-food outlet once a month. Furthermore, in February 2022, according to Office for National Statistics, a UK-based independent producer of official statistics, total restaurant revenues climbed by 12.6% in value and 10.0% in volume between the fourth quarters of 2021 and 2020. Fast food restaurants' overall sales increased by 8.6% in value and 6.4% in volume between 2020 and 2021. Therefore, the increased instances of fast-food trends are driving the growth of the ingredients market.

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The ingredients market covered in this report is segmented -

1) By Product Type: Starches, Vegetable Oils and Fats, Natural Sweeteners, Enzymes and Antioxidants, Natural Flavorings and Colors, Functional Ingredients, Other Product Types
2) By Function: Sweeteners, Emulsifier, Flavors and Color Additives, Preservatives, Fat Replacers, Nutrients, Stabilizers, Thickeners, Binders, Other Functions
3) By Application: Beverages, Fortified Food Products, Bakery, Confectionery, Dairy and Dairy Products, Meat and Fish Products, Other Applications

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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