Caramel
is a confectionery product used as a flavoring, filling and topping
in food and beverage variety. It is prepared by heating a different
kind of sugar at a defined temperature. Caramel ingredients are
available in various forms, types and used in a variety of
applications. Considering its usefulness the market players of
caramel ingredient are more focused towards expansion, new launch and
development of varieties in caramel ingredient. The trend of fancy
food eating, decoration on cake & ice-cream as well as fusion in
traditional dishes developed the concept of caramel ingredient. Among
different forms of caramel ingredient, granular and powdered form are
growing widely in confectioneries. As the trend of packaged food is
emerging intensely therefore due to longer shelf life, powdered and
granular form of caramel ingredient are preferred over others.
Furthermore, acceptance of caramel ingredient in daily life for an
average living population raised when trend of dining outside has
increased, because of which food manufacturer started focusing on
making their food products more appealing and tempting to the
consumer with the help of caramel ingredient. Also, busy lifestyle
has changed cooking and eating habits globally; people prefer frozen
bakery product and ready to eat product over traditional slow cook.
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Caramel
ingredients have a variety of applications in food and beverage
industry. Among all the applications caramel ingredient is widely
used in confectionery. Owing to consumer’s taste preference, the
demand for confectionery products and for making confectionery
product, use of caramel ingredient; fuel the market growth of caramel
ingredient worldwide. Growth in disposable income and adoption of
urban lifestyle are some other factors considered for driving caramel
ingredient market globally.
Significant
growth is noticed in beverage industry which include alcoholic and
non-alcoholic products. Caramel ingredients such as liquid and
powdered caramel colors and caramelized sugar syrups are used in
manufacturing non-alcoholic and alcoholic beverage such as tea,
lemonade, fruit drink, powdered drink mixes, beer, etc., This propel
market of caramel ingredient as well. As an opportunity, caramel
ingredient can capture the huge prospective market by targeting
untapped countries or economically developing countries.
Although
the overall caramel ingredient market is growing significantly,
restraints such as a rise in the price of raw material which lead to
a subsequent increase in the price of caramel ingredient. Another
restraint, switch in eating habits among consumer by adopting healthy
eating while minimal using confectionery products can hinder caramel
ingredients’ market growth.
Few
of the market players accounting for global caramel
ingredient agents market includes Nestle, Mars Inc., Kerry
Group, Bakels Worldwide, Cargill Incorporated, Göteborgsfood
Budapest ZRT, Sensient Technologies Corporation, Ferrero, Martin
Braun KG, Puratos Group, Haribo, Metarom, Sethness Caramel Color,
Nigay, DDW The Color House.
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