Biotech Flavors Market will Reach US$991.0 mn by 2024

Despite a consolidated vendor landscape, the global biotech flavor market witnesses a highly competitive environment, finds Transparency Market Research (TMR) in a recent study. As per the report, leading companies mostly rely on strategic collaborations and mergers and acquisitions to gain increased visibility. This trend is likely to continue over the coming years, thus intensifying the prevailing competition. Some of the leading players operating in the global biotech flavors market are Naturex, Firmenich S.A., Kerry Group Plc, Frutarom Industries Ltd., International Flavors & Fragrances Inc., Takasago International Corp., Sensient Technologies Corp., Bell Flavors and Fragrances, Symrise AG, and Givaudan. 

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TMR has predicted the global biotech flavors market to exhibit a CAGR of 9.70% between 2016 and 2024. At this pace, the market will reach US$991.0 mn by the end of 2024, as against its valuation of US$430.6 mn in 2015. In terms of volume, TMR projects the market to touch 23,980.3 tons over the course of the forecast period. The rising demand from beverages as compared to other end users is likely to augment growth in the market. The rising consumption of flavored beverages around the world will thus catapult the segment at the market’s fore.

Regionally, the global biotech flavors market is led by North America owing to the prevalence of high awareness regarding health benefits of biotech flavors. Besides this, the market is expected to witness high paced growth in Asia Pacific on account of the increasing demand from India and China. The rising trend of health and wellness across emerging nations will aid the market’s expansion in Asia Pacific. In addition to this, the rising demand for beverages will support the market’s growth in the region. 

Increasing Health Consciousness among Consumers to Fuel Demand for Biotech Flavors 

The market will immensely benefit from the increasing health consciousness among consumers. Biotech-based flavors contain natural ingredients, which will fuel its use in food and beverages, subsequently fuelling sales prospects for the market. As per TMR, the market will witness increasing demand in developed countries as they show a high degree of awareness. Concerns regarding negative impact of artificially produced food flavors and the rising knowledge about the nutritional benefits of biotech flavors will boost the biotech flavors market in the coming years. 

Low Shelf-life of Biotech Flavors May Hamper their Demand 

While the demand for biotech flavors is forecast to scale higher in the near future, their low shelf-life and issues pertaining to their stability may hinder the market to an extent. Nonetheless, the rising awareness among consumers about the nutritional values of biotech flavors will boost their demand in the coming years. These flavors are derived using biotech processes such as microbial fermentation, bio-conservation, and tissue culture. These processes help in keeping intact the nutritional value of fruits or vegetables from which flavors are derives, thus, eliminating risk of adverse impact. Flavors derives using the aforementioned processes are therefore considered more natural and healthier than their chemically synthesized counterparts.

U.S. Nutraceuticals Market Progressing at a CAGR of 5.30% between 2016 & 2024

The U.S. market for nutraceuticals is competitive in nature and is likely to witness a significant rise in the level of competition throughout the forecast period, states a new market intelligence study by Transparency Market Research. The rising number of collaborations and mergers and acquisitions is projected to enhance the competitive environment of the overall market in the next few years. In addition to this, the expansion of the product portfolio is one of the major factors that is projected to accelerate the growth of the growth of the U.S. market for nutraceuticals. The launch of new products and the research and development activities taking place are some of the other key factors that are predicted to enhance the growth of the nutraceuticals market in the U.S. in the next few years. Some of the key players operating in the nutraceuticals market in the U.S. are The Nature’s Bounty Co., Pepsi Co., Bayer AG, Royal DSM NV, Abbott Laboratories, Chobani LLC, Herbalife International Inc., Amway Enterprises, General Mills Inc., and Groupe Danone. 

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According to the market research study by Transparency Market Research, in 2015, the U.S. market for nutraceuticals was worth US$64.8 bn. The market is further projected to reach a value of US$102.6 bn by the end of 2024 and register a healthy 5.30% CAGR between 2016 and 2024. 

The U.S. market for nutraceuticals has been classified on the basis of product type into functional beverages, functional foods, and dietary supplements. Among these, the functional foods segments is anticipated to lead the overall market in the next few years with a large share of the market. The rising demand for functional foods, owing to the rising awareness among consumers regarding the benefits of consuming functional foods is one of the key factors estimated to encourage the growth of this segment in the next few years. 

In addition to this, the rising preference of consumers for a healthy lifestyle is projected to enhance the growth of this segment in the next few years. As per the research study, this segment is projected to register a 6.10% CAGR between 2016 and 2024. 

Liquid Nutraceuticals to Witness Strong Growth in Near Future 

The U.S. nutraceuticals market has been segmented on the basis of product form into powder, solids/semi-solids, liquid, and tablets and capsules. Among these, the liquid nutraceuticals segment is projected to witness a strong growth in the next few years. As per the research study, this segment is likely to account for a large share of the overall market, thanks to the rising adoption among consumers throughout the forecast period. Furthermore, the other product forms of nutraceuticals including powders, tablets and capsules, and solids/semi-solids are expected to observe a healthy growth, owing to their increasing demand in the next few years. In addition to this, the increasing consumption of nutraceuticals and the increasing level of awareness among consumers are some of the other key factors that are estimated to enhance the growth of these products forms in the coming few years. 

Rising Consumer Awareness to Drive U.S. Nutraceuticals Market 

The increasing consumption of major products, such as fortified wheat, iodized salt, and supplements and the maturity of markets are some of the major factors that are estimated to accelerate the growth of the U.S. nutraceuticals market in the coming years. The increasing preference for on-the-go food products is predicted to accelerate the growth of the market throughout the forecast period. On the other hand, the negative publicity of these products along with the false health claims are predicted to restrict the growth of the U.S. nutraceuticals market in the next few years.

Confectionery Ingredient Market to Reach a Value of US$109.5 bn by 2025

The competitive landscape in the global confectionery ingredients market is consolidated with a few big shot players, namely Olam International Ltd., Cargill Corp., Kerry Group, E. I. DuPont de Nemours and Co., and Tate and Lyle holding most of the share. In fact, in 2016, together they commanded over a whopping 80.0% share in the market. The holding pattern is expected to change little in the near term. 

These prominent players in the global confectionary ingredients market mostly compete on the basis of product development and diversification. They are also seen deploying innovative marketing strategies to outsmart one another vis-à-vis sales. 

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In the forecast period beginning from 2017 and ending in 2025, the global market for confectionery ingredients is predicted to rise at a steady CAGR of 4.2%. The market, which was worth US$76.25 bn in 2016, will likely clock a value of US$109.5 bn by the close of the forecast period in 2025-end. 

The various types of confectionary ingredients available in the market are chocolate and cocoa, diary ingredients, sugar, sweeteners, emulsifiers, and others. At present, chocolate leads the pack due to its roaring popularity and widespread use in flavoring in a range of other food and beverage products. Other key product segments of the global confectionery ingredients market include sugar, emulsifiers, dairy ingredients, and other sweeteners. 

The chief geographic regions of the confectionery ingredients market studied in the TMR report are North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Europe, among them, holds maximum market share owing to the unabated rise in demand for sweetened items, bread, and ice creams. Germany, the U.K., and France are at the forefront of driving demand in Europe. The market in the region was worth US$25.4 bn in 2016. However, due to the market getting saturated in the region in the next couple of years, it will witness a slower growth rate. 

With globalization and unprecedented proliferation of the media, the benefits of dark chocolate is known worldwide. Elaborates the lead analyst of the TMR report, “Dark chocolate is comprised of flavonoids and different other compounds that have potent antioxidant properties which help in protecting against cardiovascular and circulatory diseases.” This has resulted in the soaring demand of dark chocolate in various confectionery products and with globalization and better trade and commerce channels their sales have managed to increase in tandem. This, in turn has benefitted the global market for confectionery ingredients. 

Adoption of Western Food Habits Pushes up Demand 

In addition to that, the increasing uptake of western food habits, particularly in the emerging economies of Asia Pacific and the Middle East, has also led to rising demand for confectionary ingredients. This is because of the widespread popularity of bakery products such as cakes, biscuits, buns, and pastry, among others, which has led to the soaring usage of confectionary products. The increasing disposable incomes of the people has led them to buy more of such products instead of cooking traditional snacks at home.

Cake Mixes Market to Touch a Valuation of US$1,310.7 mn by 2022

The global cake mixes market is envisaged to display steady growth in the upcoming years while riding on the rising disposable incomes in several parts of the world. With increasing spending by consumers on food items that satisfy the taste buds, the demand for cakes, and consequently cake mixes is receiving an uptick.

From the first cake mixes that were introduced in the early 1930s to find a use for the molasses surplus of a molasses canning company, cake mixes have evolved leaps and bound in terms of flavors and type. Apart from the regular type, today, cake mixes are available in several variants such as sugar free and low fat to serve special dietary needs. The introduction of organic cake mixes that are free of chemical additives is gaining popularity among health-savvy consumers for their food preferences.

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A report by Transparency Market Research (TMR) predicts the global cake mixes market to attract an opportunity of US$1,098.7 mn in 2017. Rising at a moderate 3.6% CAGR for the forecast period between 2017 and 2022, the market will likely touch a valuation of US$1,310.7 mn by the end of the forecast period in 2022.

Chocolate Flavor Segment Stands Out with Colossal Expected Revenue Contribution

The global cake mixes market could be classified into chocolate, vanilla, butter, milk, fruit, red velvet, berries, butterscotch, and others, according to flavor. Among these, the chocolate segment is anticipated to garner the lion’s share by the end of the forecast period. As per the TMR report, the chocolate segment could be valued at US$426.5 mn by the end of 2022 to represent 32.5% of the overall market. The absolute growth attained by the chocolate segment is expected to surpass that of any other segments in the category. Between 2017 and 2022, the chocolate segment could rise at a year-on-year growth of US$15.4 mn. 

With respect to distribution channel, the key segments of the cake mixes market are modern trade, departmental and traditional grocery store, convenience stores, online channels, and other retail formats. In terms of cake type, the key segments include angel food cake, layer cake, flourless or low-flour cake, cup cake, cheese cake, pound cake, tortes cake, unbaked cake, and other. 

North America Dominated with Leading Growth Rate 

On the basis of geography, the worldwide market for cake mixes is studied across North America, Europe, Asia Pacific except Japan, Middle East and Africa, Latin America, and Japan. North America cake mixes market is envisioned to be dominant amongst all to attract a revenue of US$431 mn by 2022 after progressing from US$353.7 mn in 2017. The region is poised to display a significant 4% CAGR over the forecast period of 2017 to 2022. 

Europe is predicted to be another key market for cake mixes to attract a revenue worth US$362.7 mn by 2022, expanding at a CAGR of 3.2% over the forecast period. Asia Pacific except Japan is anticipated to represent 20.5% of the overall market in 2017; going forward the region is estimated to gain 11 basis points (BPS) between 2017 and 2022. 

On the other hand, the Middle East and Africa and Japan are anticipated to display sluggish growth over the forecast period. While the former is estimated to represent 4.8% revenue share by 2017 end and lose 27 BPS between 2017 and 2022, the latter is expected to hold 3.8% revenue share in 2017 and lose 13 BPS by 2022 over 2017. 

Leading players in the global cake mixes market include General Mills Inc., Associated British Foods Plc., Archer-Daniels-Midland Company, Pinnacle Foods Inc., Cargill Inc., Ingredion Incorporated, Hain Celestial Gropu Inc., Kerry Gropu Plc., Continental Mills Inc., and Chelsea Milling Company.

Ginger Market to Reach a Valuation of US$4.18 bn by the end of 2022

The global reach and acceptance for spices, especially for ginger have been increasing in recent years, presenting promising growth opportunities for large-scale manufacturers and processors of the spice that also promises vast health benefits, observes Transparency Market Research in a recent report. The global ginger market has multiple players, owing to which the vendor landscape is fragmented and is competitive in nature. The dominant players in the global ginger market are Yummy Food Industrial Group, Sun Impex International Foods L.L.C., Archer-Daniels-Midland Co., Indian Organic Farmers Producer Co. Ltd., Monterey Bay Spice Co. Inc., Buderim Group Ltd., SA Rawther Spices Pvt. Ltd, Atmiya International, Food Market Management Inc., and Sino-Nature International Co. Ltd. 

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According to the report, the global ginger market is expected to reach a valuation of US$4.18 bn by the end of 2022; the market is expected to expand at a 6.5% CAGR during the forecast period of 2017 to 2022. Asia Pacific to remain the Leader in Global Ginger Market 

The report segments the global ginger market t based on the form of ginger into fresh, pickled, dried, preserved, powdered, and crystallized. Among all these forms, fresh ginger is the most preferred market form. The segment presently accounts for the dominant share in terms of valuation in the overall market and is expected to exhibit a CAGR of 7.30% over the report’s forecast period. Global ginger market is further segmented on the basis of application, distribution channel and region. 

Geographically, Asia Pacific excluding Japan (APEJ) is the leading regional market. It is expected to expand at a CAGR of 7.10% over the forecast period. In the Asian market India and China are drawing enormous amount of medical tourism for which ginger is a key medical spice. Thus, the rise in medical tourism activities has provided a significant push for the APEJ market and is likely to remain a key growth factor for the regional market over the forecast period as well. Other regions are also making effective measures to increase the production of spices, especially ginger, with the increasing medical awareness regarding organic substances. 

Multi-remedial Nature of Ginger allows its Increased Adoption 

The global ginger market has gained immense popularity in the recent years as the spice helps in curing multiple diseases like cancer, nausea, cardiovascular diseases and diabetes. Apart from being a remedy form regular infections like cold and cough, it also helps in improving indigestion, arthritis, rheumatism, hypertension, constipation, ulcers, and atherosclerosis. Therefore the global ginger market is projected to enjoy the advantage of a number of positive factors to increase demand in the foreseeable future. In the coming years, the ginger market is expected see a steady expansion in its application base from medicine to alcohol and beverages, which will boost the overall consumption of ginger globally.

Cheese Powder Market Growing at 13.7% CAGR from 2017 to 2022

As cheese adds nutrition, taste, and a longer shelf life to food products, its demand in a wide array of food and beverages is rising substantially. Consequently, the global cheese powder market is also witnessing a tremendous increase in its valuation and expansion in its market size. Cheese powder is mainly utilized to add flavors to instant food items, baked food, and seasonings. With the changing lifestyles, where consumers do not have enough time to cook a complete and nutritious meal, they tend to cover up with ready-to-eat meal with nutritious value, which requires cheese powder. 

As per Transparency Market Research (TMR), the worldwide market for cheese powder is anticipated offer an opportunity worth US$355.9 mn by 2017. Further, the market is projected to strengthen at an impressive CAGR of 13.70% over the period from 2017 to 2022 and reach a value of US$677 mn by the end of 2022.

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The global market for cheese powder is broadly assessed on the basis of the type of the product, end user, and the application. Based on the type of product, the market is segmented into Swiss cheese powder, cheddar cheese powder, mozzarella cheese powder, parmesan cheese powder, and blue cheese powder. The demand for cheddar cheese powder is comparatively greater than other types of cheese powder, making it the leading product segment of the global cheese powder market. Cheddar cheese powder is likely to remain witnessing a strong demand over the next few years, thanks to the increasing preference for convenience food items across the world. 

By the application, the worldwide market for cheese powder is categorized into sweet and savory snacks, bakery and confectionery, ready meals, sauces, dips, dressings, and condiments. Sauces dips, dressings, and condiments are reporting the most prominent demand for cheese powder, worldwide, and is closely followed by sweet and savory snacks. Various industries, such as food and beverages, and individual consumers have surfaced as the key end user of cheese powder, globally. 

In terms of the geography, the worldwide market for cheese powder is spread across Europe, Asia Pacific excluding Japan (APEJ), North America, Latin America, the Middle East and Africa (MEA), and Japan. Proliferating at a CAGR of 12.70% between 2017 and 2022, North America, the current market leader, is anticipated to continue on the top over the next few years. The increasing preference for convenience food items among consumers is the key factor behind the substantial rise on this regional market. With the augmenting consumer pool of ready-to-eat meals, Europe is also registering a steady rise in its cheese powder market. 

Among other regional markets, Asia Pacific excluding Japan is expected to demonstrate the most promising opportunities for growth in the near future, owing the high population density in this region. The rise in disposable income of consumer, enabling them to afford expensive food products, is also projected to propel the APEJ market for cheese powder in the years to come. 

Kraft Heinz Co., Kerry Group Plc, Thornico A/S, Dairy Farmers of America Inc., Land O’Lakes Inc., Bluegrass Dairy & Food Inc., All American Foods Inc., Aarkay Food Products Ltd., Kanegrade Ltd., and Archer-Daniels-Midland Co. are some of the leading cheese powder vendors across the world.

Biscuits Market Projected to Reach US$109.95 bn by 2025

The global market for biscuits is displaying a highly competitive business structure, finds a new research study by Transparency Market Research (TMR). Britannia, Mondelez International Inc., Lotus Bakeries NV, ITC Ltd., Campbell Soup Co., Kraft Foods Group Inc., Nestle SA, The Kellogg Co., Dali Food Group Co Ltd., National Biscuit Industries, and many more are prominent part of the competitive landscape of this market, making it extremely fragmented. The leading companies are focusing on expanding their regional bases to strengthen their position. Over the coming years, vendors in this market are likely to take up strategic partnerships, states the research report.

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According to the research report, the global biscuits market was worth US$76.38 bn in 2017. Expanding at a CAGR of 4.70% during the period from 2017 to 2025, the market is projected to reach US$109.95 bn by the end of the forecast period. Savory biscuits, sweet biscuits, crackers, wafers, filled/coated biscuits are the main products available in the global market. Among these, the demand for sweet biscuits is comparatively high and the trend is anticipated to remain so over the next few years, reports the research study. 

Europe and Asia Pacific Excluding Japan to Remain Dominant 

On the basis of the geography, the global biscuits market has been segmented into North America, Asia Pacific excluding Japan, Latin America, Japan, the Middle East and Africa, and Europe in this research report. Among these, the markets in Asia Pacific excluding Japan and Europe has acquired the dominance, thanks to the high consumption biscuits. This regional market is anticipated to remain on the top over the next few years. The increasing number of bakeries and soaring demand for different types of breads and confectioneries are likely to support these regional markets in the years to come. North America and the Middle East and Africa are also expected to witness a significant rise in the years to come, states the research report. 

Rising Demand for Convenient Food to Support Market Growth 

“The global market for biscuits is benefiting substantially from the rising demand for healthy snacks and the augment in the per capita food consumption in emerging countries,” says an analyst at TMR. Going forward, the market is likely to be driven by the augmenting demand for convenience food, rise in the young population, and innovation in packaging over the next few years, states the research report.