Growing number of consumers, increased demand from confectionary & bakery industries and rising disposable income to drive the growth of global caramel ingredients market during the forecast period
According to TechSci Research report, “Global Caramel Ingredients Market By Form, By End Use, By Purpose, By Region, Competition, Forecast & Opportunities, 2024”, the global caramel ingredient market is expected to witness a robust CAGR during the forecast period on the account of increasing demand for eatables specially among youth, increase in online food delivering platforms, increasing demand for frozen baked products, and surge in women population. Moreover, caramel ingredients are being widely used in confectionary products, which is positively influencing the global caramel ingredient market during the forecast period. However, some factors can act as major impediments to the market in the years to come such as constantly rising raw material prices, which in turn leading to rising product prices coupled with shift in the eating habits of consumers to focus more on healthier products.
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In terms of form, the global caramel ingredient market is fragmented into liquid caramel vs. solid/powder/granular caramel. Among them, the liquid caramel is estimated to dominate the market during the next 5 years owing to its intensive usage in food & beverage industry. Apart from this, the solid/powder/granular segment is likely to witness high growth over the forecast period which is attributable to the fact that powdered caramel has a better shelf life when compared to its liquid form and is widely used in bakery and packaged food products. Based on end user, the beverage industry is expected to show significant growth over the coming years on the account of caramelized sugar syrups and powdered & liquid caramel colors that are extensively used during the production of alcoholic and non-alcoholic beverages like tea, lemonade, beer, fruit drinks, powdered drink mixes, among others.
Cargill Incorporated, Sensient Technologies Corporation, Kerry Inc., Puratos Group, Sethness Caramel Color, Bakels Worldwide, Nigay, Alvin Caramel Colours (India) Private Ltd among others are the leading players operating in global caramel ingredients market.
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“On the basis of region, North America dominated the global caramel ingredient market until 2018 which can be attributed to the factors, such as increasing popularity of frozen and packaged food mostly bakery products and desserts, among the consumers. Also, Asia-Pacific region is projected to register fastest growth in the upcoming years. Moreover, increasing consumer awareness regarding the advantages of fresh as well as natural label flavors and colors in Asian countries, is projected to positively influence the growth of global caramel ingredients market over the forecast years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Caramel Ingredients Market By Form, By End Use, By Purpose, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global caramel ingredients market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global caramel ingredients market.