Food Processing Ingredients Market Worth 55.99 Billion USD by 2023
by Mit K. SEOThe report “Food Processing Ingredients Market by Type (Modified Starch & Starch
Derivatives, Proteins, Food Stabilizers, Emulsifiers, Yeast, Enzymes, Acidity
Regulators, Antioxidants, and Release Agents), Form, Source, Application, and
Region – Global Forecast to 2023 “, published by MarketsandMarkets™, the
Food Processing Ingredients Market is estimated to be valued at USD 41.40
Billion in 2018 and is projected to reach USD 55.99 Billion by 2023, at a CAGR
of 6.2%
The market is growing, due to a
rising global awareness toward the consumption of healthy products, and a
booming trend of adopting clean labels, which has led to the increase in the
demand for natural food processing ingredients. Additionally, a rapid increase
in the adoption of processed food products, due to changing lifestyles, an
increase in the number of dual-income households, and working women population
have led to the growing demand for food processing ingredients.
Modified starch & starch
derivatives are estimated to form the largest segment in 2018
The Food Processing Ingredients
Market, by type, is estimated to be dominated by the modified starch &
starch derivatives segment. The demand for this type of food processing
ingredient is majorly derived from various processed food products such as
cream fillings, canned products, sauces, and soup mixes. These are typically
used as thickeners and stabilizers in such products. The increase in
population, a rise in demand for processed food products, and abundant
availability of raw materials such as corn and wheat have been aiding market
growth for the segment.
Dry food processing ingredients are estimated to form the larger segment in 2018
The dry Food Processing Ingredients
Market, by form, is estimated to be the larger segment in 2018. The market for
dry food processing ingredients is estimated to dominate the market. Dry food
processing ingredients are widely used in the market, owing to their provision
of better stability in food processing techniques and their ease of handling.
Additionally, dry processing ingredients are also subject to minimal thermal
damage.
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Natural food processing ingredients
segment is estimated to be the largest in 2018
The natural food processing
ingredients segment is estimated to dominate in 2018 and is also projected to
be the fastest-growing through 2023. Increase in consumer preferences for
healthy and natural food processing ingredients is expected to be favoring the
growth for the market. Consumption patterns in urban areas, influenced by busy
lifestyles, represent the enhanced need for food products with health benefits,
which are propelling the growth of the natural Food Processing Ingredients Market.
Asia Pacific is projected to be the
fastest-growing market during the forecast period
The Asia Pacific market is projected
to grow at the highest CAGR from 2018 to 2023. Improved lifestyles and changed
consumer perceptions have resulted in a rise in the demand for prepared,
convenience, and processed foods in the region. A significant demand for better
food quality has also led to improvements in processing and handling units,
which has ensured market growth in the region.
This report includes a study of
marketing and development strategies, along with the product portfolios of
leading companies. It includes the profiles of leading service companies such
as Cargill (US), ADM (US), DuPont (US), Ingredion (US), Tate & Lyle (UK),
and Kerry Group (Ireland).
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Created on Jan 15th 2021 06:32. Viewed 291 times.