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Food Decorations & Inclusions Market Trends & Analysis 2024-2033
Food Decorations & Inclusions Market
According to The Business Research Company's, The food decorations and inclusions market size has grown strongly in recent years. It will grow from $8.58 billion in 2023 to $9.21 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to consumer demand for artisanal and premium foods, expansion of the bakery and confectionery industry, growing interest in food presentation, globalization of food culture.
The food decorations and inclusions market size is expected to see strong growth in the next few years. It will grow to $12.43 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to rising demand for plant-based and natural ingredients, customization and personalization trends, e-commerce growth in food retail, continued emphasis on food aesthetics, increased focus on sustainable and eco-friendly practices. Major trends in the forecast period include natural and clean label, plant-based options, innovative textures and shape, edible glitters and metallics, innovation in food processing technologies.
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Market Drivers and Trends:
The growing consumption of bakery products is expected to propel the growth of the food decoration and inclusions market going forward. The decorations and inclusions help to perfectly finish bakery products such as cakes, desserts, patisserie, and others that make look attractive. The increase in consumption of bakery products is creating demand for food decoration and inclusions. The bakery products require decoration and inclusion to finish and add appealing, enjoyable, and high value to the bakery product. For instance, in April 2023, according to the U.S. Bureau of Labor Statistics, a US-based fact-finding agency, bakery product consumption expenditure increased from $428 million in 2020 to $462 million in 2021. Therefore, the growing consumption of bakery products is driving the growth of the food decorations and inclusions market.
Product innovation is a key trend gaining popularity in the food decorations and inclusions market. Companies operating in the food decorations and inclusions market are developing and launching innovative products to sustain their position in the market. For instance, in February 2022, The Supplant Company, a UK-based biotechnology company that manufactures natural food ingredients, launched premium inclusions made with Supplant sugars from fiber grows that bakes, cooks, and caramelizes like traditional sugar. The product made with Supplant sugar provides fewer calories than cane sugar, low glycemic response, and acts as a prebiotic.
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Major Key Players of the Market:
Barry Callebaut AG; Cargill Incorporated; Carmemoli SPA; Carroll Industries NZ Ltd.; Dawn Food Products Inc.; Delicia Foods India Pvt. Ltd.; Dobla BV; HLR Praline BVBA; Icam SpA; Kanegrade Flavours & Ingredients Pvt Ltd.; Nimbus Foods Ltd.; Orkla ASA; PCB Creation SAS; Pecan Deluxe Candy Company; Ulmer Schokoladen Gmbh & Co. KG; Dr. August Oetker Nahrungsmittel KG; Tate & Lyle plc; Archer Daniels Midland Company; Cémoi Group; Olam International; Sensient Technologies Corporation; Kerry Group plc; Ingredion Incorporated; AarhusKarlshamn publ AB; FrieslandCampina Kievit BV; The Hershey Company; Mars Incorporated; Nestlé S.A.; Mondelez International Inc.; Ferrero International SA
Food Decorations and Inclusions Market 2024 Key Insights:
• The food decorations and inclusions market will grow to $12.43 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%.
• Rising Bakery Consumption Fuels Expansion Of Food Decorations And Inclusions Market
• The Rise Of Innovative Food Inclusions By The Supplant Company
• Europe was the largest region in the food decorations and inclusions market in 2023
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