Global food inclusions market generated revenue of $10.068 billion in 2017, and is forecast to reach revenue of $15.253 billion by 2023, growing at a CAGR of 7.5% during 2018-2023. APAC and North America are the major regions for the food inclusions market, and there is scope for potential growth in these regions due to high demand from the food processing industry. Among all the applications, Snacks in Food Inclusion market is dominating that had generated a revenue of $2.870 billion in 2017, and is estimated to reach $4.430 billion by 2023, growing at a CAGR of 7.9% during 2018-2023. On the other side, Bakery & Confectionery application segment is projected to register highest growth rate of 8.1% CAGR during the forecast period.
Asia-Pacific continues to lead the market share during 2018-2023:
The global food inclusions market is forecast to grow at 7.5% through 2017 to 2023. This market is dominated by the APAC market which contributed approximately 35% of the net revenue in 2017. This APAC region is estimated to grow at a CAGR of 7.3% in the forecast period. The revenue is estimated to increase from $3.541 billion in 2017 to $5.304 billion by 2023. The APAC region is the base for major manufacturers that includes FoodFlo International Ltd, Hawkins Watts, Kauri Food Ingredients, Taura Natural Ingredients Ltd and many more. North America was estimated to be the second largest market in 2017.
North America is the second largest market for food inclusions. The prime reason for the same is high awareness among customers. In North America, consumers extensively consume packaged and home made goods, which have high contents of these substances. The North American flavor food inclusions market is forecast to grow at CAGR of 7.9% in the period under consideration.
Selected / Sample Analysis done in the full Report:
Value chain analysis is an imperative tool to dissect the operations of a specific product. Each step adds unique value to the item from raw materials stage to the final product stage. It assists us to identify the most ideal approaches to make best product and boost it to offer it to the clients. Different stakeholders involved in food inclusions market are as follows:
Raw material suppliers
Producers of food inclusion products
The industry is growing rapidly at present, as the network of suppliers and distributors is well-established around the globe. The main steps involved in the value chain of food inclusion industry are procurement of raw materials (fruits, coffee beans and others), inclusions product manufacturing, distribution and end use. The first step is buying the necessary raw materials such as fruits, coffee beans and many more from various suppliers, and then process them to get the desired product. These raw materials which are required for the manufacturing of food inclusion products can be purchased from many independent sources available in the market.
Processing of raw materials to manufacture the inclusion products is the next step and is the major one in the process. This step contributes a major chunk to the value of the product. The different chemicals used and their processing charges adds value to the product. The major manufacturers of food inclusion products are Cargill Inc. (U.S.), Barry Callebaut (Switzerland), Archer Daniels Midland Company (U.S.) and others.
The next important step is the distributor network. As per IndustryARC analysis, there are many distributors in this industry who help to provide immediate access to goods which helps to build a network with the end user. A well-defined distributor network of the industry helps in increasing the reach of the end users and hence, the industry faces no problem in reaching out to them.
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Excerpts on Market Growth Factors Mentioned in the Full Report:
Consumer preferences related to food consumption has been witnessing a remarkable shift with increased demand for novel products which have nutritional value and associated health benefits. These factors have been impacting the product choices, buying and consumption patterns, and ultimately the dynamics of the food inclusions market.
The food inclusions market has witnessed immense growth, and today, it finds its application across the Food industry, such as packaged foods, nutritional products and confectioneries.
As the demand for innovative products increases, technology plays a major role in the processing of food inclusions market.
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Key Players of the Food Inclusions Market:
Cargill Inc. is the dominant player in the global food inclusions market, with a share of 15%, and is expected to continue its dominance through strategic acquisitions. The market leader is followed by Barry Callebaut, the company which is specialized in chocolate products has been expanding its footprint in this market by regular agreements and product launches. These major companies are expected to be involved in more acquisitions, agreements and product launches in the coming years to enter new product markets and regions. The global market for food inclusions encompass numerous regional and local players, posing tough competition to these major companies with their products that cater to the local needs of the food industry.
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