Global Ingredients Market 2024 Growth Rate, Latest Trends, Industry Insights And Forecast To 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 offers in-depth market insights through Ingredients Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
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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Market Segmentation:
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

Major Driver - Millennial Fast-Food Craze A Driving Force Behind The Soaring Growth Of The Ingredients Market
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.

Competitive Landscape:
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.

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Top Trend - Collaborate To Introduce Probind Transglutaminase Enzyme In North America
Major companies operating in the ingredient market are focusing on strategic partnerships to provide reliable services to customers. A strategic partnership is an arrangement between two or more companies or organizations that helps each other or works together to achieve their respective goals. For instance, in November 2021, BDF Natural Ingredients, a Europe-based biotech company specializing in the research, manufacture, and commercialization of innovative and technological additives for food and nutrition, partnered with A&B Ingredients, a US-based leader in providing unique, clean-label, functional ingredient solutions to the food and beverage industry. The goal of this collaboration is to introduce the BDF Natural Ingredients Transglutaminase enzyme to the market in North America. Additionally, provide the customers with the best ingredients and complete technical assistance from the sales and application teams. With its unique protein-binding qualities and a wide range of uses in meat, fish, dairy, and vegan products, PROBIND is one of the top products in the transglutaminase (TG) category globally. Ingredients from PROBIND are free of allergies and are used to improve food texture, bind proteins together, and make new products.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Ingredients Market Characteristics
3. Ingredients Market Trends And Strategies
4. Ingredients Market - Macro Economic Scenario
5. Ingredients Market Size And Growth
…..
27. Ingredients Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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