January 09, 2021
According to the research report titled ‘Global Caramel Ingredient Market Analysis, 2020’, available with Market Study Report LLC, global caramel ingredient market is predicted to expand with a CAGR of 7.50% over the period of 2020-2025.
Growing working population, increasing disposable income, shifting dietary trends, and escalating consumption of bakery products are some of the key factors driving the growth of global caramel ingredient market. Widespread adoption of caramel ingredients in bakery as well as confectionary products and high concentration of several key manufacturers and sellers on e-commerce platforms are also aiding the market expansion.
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As per form type, global caramel ingredient market is segmented into liquid, granulated, and solid.
Based on application landscape, the market is divided into flavoring, topping, coloring and others. the report states that global caramel ingredient industry size from coloring segment is expected to grow substantially during the forecast duration, primarily driven by increasing consumption of chocolates and candies and rising number of theme-based celebrations.
The end-user scope of global caramel ingredients industry consists of beverages, ice cream & desserts, confectionery, bakery, and others. Among these, the confectionary segment accounted for the largest market share in the year 2019 and is likely to showcase similar expansion trends in the forthcoming years. Rising adoption of caramel in several confectionary products is fueling the segmental size.
Meanwhile, beverage segment is also estimated to emerge as a key revenue generator for the overall market in the subsequent years, primarily due to mounting utilization of caramel ingredients in non-alcoholic as well as alcoholic products.
From the regional point of view, worldwide caramel ingredients market is split into Asia-Pacific, Middle East & Africa, Europe, South America, and North America with primary focus on countries such as South Korea, Japan, India, China, Africa, Turkey, Qatar, UAE, Saudi Arabia, Germany, France, United Kingdom, Italy, Brazil, Mexico, Canada, and the United States.
According to the report, North America caramel ingredient industry is anticipated to record significant growth during the estimated timeframe. High concentration of various manufacturing facilities along with increasing consumption of bakery, confectionary goods as well as beverages are facilitating the business scenario in North America.
Mars Inc., Sethness Roquette, Goetze's Candy Company Inc., DDW The Color House, Sensient Technologies Corporation, Frito-Lay Inc., Ferrero S.p.A., Kerry Group plc, Nestlé S.A., and Cargill, Inc. are the major companies in global caramel ingredients market.