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Caramel Ingredients Market Trends, Growth Drivers, Share, Overview By 2033
Caramel Ingredients Market Trends
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According to The Business Research Company's, The caramel ingredients market size has grown strongly in recent years. It will grow from $2.64 billion in 2023 to $2.84 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to growing food and beverage industry, preference for sweet flavors, diverse applications in confectionery, popularity in dairy products, demand for premium and artisanal products, culinary uses in sauces and toppings, globalization of food preferences.
The caramel ingredients market size is expected to see strong growth in the next few years. It will grow to $3.74 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to innovation in caramel flavors, expanding application in health foods, growing demand for natural sweeteners, inclusion in ethnic and regional cuisines, use in ready-to-eat meals, expansion of artisanal chocolate market. Major trends in the forecast period include clean label and natural ingredients, plant-based caramel ingredients, sugar reduction and alternatives, clean manufacturing processes, packaging innovations, health and wellness considerations, online retailing and e-commerce, partnerships and collaborations.
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Market Drivers and Trends:
The rise in the consumption of fast food is expected to boost the growth of the caramel ingredients market going forward. Fast food refers to quickly produced and served food. Caramel ingredients, with their versatile applications in flavoring and coloring, are integral to the production of various fast food items, such as desserts, sauces, and toppings. For instance, in August 2023, according to a report published by Budget Branders, a US-based provider of paper and plastic products, the fast food business is projected to have a global market worth 931. 7 billion dollars by 2027. Additionally, there are over 200,000 distinct fast-food outlets in the US. American consumers spend 200 billion dollars on fast food annually. Therefore, the rise in the consumption of fast food is driving the growth of the caramel ingredients market.
New product innovations are a key trend in the caramel ingredients market. Various innovations, such as clean-label foods and plant-based fats, are gaining traction. Plant-based caramel products contain minimally processed fruits, vegetables, whole grains, legumes, and others, giving them a healthy and premium value. For instance, in September 2021, AAK, a Sweden-based company specializing in plant-based oils for various consumable products, developed Akomel. Akomel is a portfolio of clean-label, plant-based fats from sustainable sources that are non-hydrogenated, non-trans, and low in saturated fat. Akomel solutions are specially formulated vegetable fats; they are an excellent alternative when creating caramel goods for the expanding premium market, where superior ingredients and more hygienic formulations are significant factors.
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Major Key Players of the Market:
Alvin Caramel Colours Private Ltd., Bakels Group, Cargill Inc., DDW The Color House, Sethness-Roquette, Kerry Group plc, Sensient Technologies Corporation, Puratos Group, Martin Braun KG, Göteborgsfood Budapest ZRT, METAROM GROUP, Nestlé SA, Mars Incorporated, The Hershey Company, Archer Daniels Midland Company, Tate & Lyle plc, Ingredion Incorporated, Royal DSM NV, DuPont de Nemours Inc., Chr Hansen Holding A/S, Givaudan SA, Symrise AG, International Flavors & Fragrances Inc., Kanto Chemical Co Inc., Aarka*y Food, Colorcon Group Ltd., Döhler Group SE & Co KGaA, WILD Flavors GmbH, Firmenich SA
Caramel Ingredients Market 2024 Key Insights:
• The caramel ingredients market size is expected to see strong growth in the next few years. It will grow to $3.74 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%.
• Rising Demand For Convenience Foods Drives Caramelized Ingredients Market
• Plant-Based Fats Drive Innovation In The Caramel Ingredients Market
• Asia-Pacific was the largest region in the caramel ingredients market in 2023
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WiseGuyReports.com adds “Caramel Ingredients Market 2019 Global Analysis, Growth, Trends and Opportunities Research Report Forecasting to 2024” reports to its database.
This report provides in depth study of “Caramel Ingredients Market” using SWOT analysis i.e. Strength, Weakness, Opportunities and Threat to the organization. The Caramel Ingredients Market report also provides an in-depth survey of key players in the market which is based on the various objectives of an organization such as…
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