The
caramel ingredient market is showing significant improvement across
the globe due to its associated product benefits. Caramel ingredients
are preferred due to inclination toward baked foods since they have
low fat content. Caramel ingredients also find wide applications in
different products. Special economic incentives are given to
companies to achieve improvement in health standards which leads to
both social and economic welfare. Health standard norms and global
acceptance are the key factors influencing the caramel ingredients
market. The market has been segmented into different types, namely
colors, flavors, and toppings. Toppings segment is likely to show the
fastest growth during the forecast period. This is mainly due to
rising trend of dining out and preference toward clean decorated
foods.
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Caramel
ingredients find application in confectionary, beverages, desserts,
and ice-creams. Confectionary segment had the dominant market share
followed by beverages. Ice-cream segment showed the fastest growth
due to changing food habits and consumer preference toward different
flavors of ice-cream. However, based on form, caramel ingredients has
been segmented into powder or granular, and liquid. Powder or
granular showed the fastest growth due to longer shell life and is
extensively used in bakery products. However, liquid caramel captured
the maximum market share in recent years. Consciousness about proper
health, changing lifestyles, and rising number of women in the work
force is boosting the caramel ingredients market. Moreover health
benefits from caramel ingredient products, consumption of low fat
content products backed by consciousness about achieving proper
health and inclination toward healthy diet are the factors driving
the caramel ingredients market globally.
In
the region wise study, the caramel
ingredient market is segmented into Asia Pacific, North America,
Europe, Middle East & Africa, and Latin America. Asia Pacific is
the most attractive region for the caramel ingredients market and
showing the fastest growth due to the high economic growth in
emerging countries like India, China, Japan, and New Zealand. These
countries offer huge investment opportunities to food and beverage
manufacturers. Rising demand for conventional food is also likely to
drive the caramel ingredients market during the forecast period. Low
labor cost and low cost of raw materials is also boosting the caramel
ingredients market. However lack of awareness among consumers
regarding the benefits of caramel ingredients and the high price of
raw materials are creating a restraint to this market. The
significant increase in application of caramel ingredients in
confectionary, bakery, and beverage industry sectors in all these
regions is driving the market. It has been observed that caramel
ingredients are preferred more due to the health awareness among
consumers in their quest to consume low fat content foods and for
this reason companies are inclining toward use of modern technologies
through continuous research and development. Opportunities are
increasing from the emerging markets and increasing demand for
natural or clean label foods and this is expected to boost the market
during the forecast period.
Key global players of the caramel ingredients market include Cargill Inc., Kerry Group, Sensient Technologies Corporation, Puratos Group, Sethness Caramel Color, DDW The Color House, Bakels Worldwide, Nigay, Martin Braun Kg, and Goteborgs Food Budapest Zrt among others.
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