Food ingredients refer to a broad category of ingredients that are added to food to improve the appearance, quality or nutritional value of food and beverages. Key uses of food ingredients include facilitate processing, maintain product consistency, extend shelf life, ensure microbiological safety, improve or maintain nutritional value, or enhance the flavor, color and texture of the finished product. Demand for food ingredients has been rising over the years on account of rising wealth, evolving consumer habits, rising packaged goods penetration and global population growth.
Flavors segment has the largest share in the overall food ingredients market followed by hydrocolloids, sweeteners, emulsifiers, preservatives, colors and food cultures. In the flavor segment, beverages account for a major share followed by dairy products, bakery products and savory & convenience foods. In the sweetener category, low calorie sweeteners are gaining importance as they do not produce acids by oral bacteria, and therefore prevent dental carries. Diabetic and obese people also prefer low calorie sweeteners as it provides them the same sweet taste of sugar without side effects. Usage of colorants is highest in soft drinks, confectionery and meat & savoury products. There has been a shift towards natural colors as more and more consumers associate natural products with superior quality.
The rapid population growth and changing consumer preferences resulting from various factors such as increasing personal income, leisure time, health concerns and urbanization, has lead to an overall rise in the demand of food ingredients. Kerry is the world’s largest supplier of specialist food ingredients and flavors by revenue in 2009. Other major players include DSM, Danisco, Givaudan, ABF, Tate Lyle and Mc Cormick.
The present report offers an analysis of the global food ingredients market with a special focus on sub-segments like flavors, sweeteners, food colorants and cultures market. It also discusses key growth drivers, opportunities and major challenges faced by the food ingredients industry. The report also profiles major players in the food ingredients market.
Further, we have predicted the future growth of the food ingredients market size by combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings. We employed various significant variables that have an impact on this industry and created regression models with SPSS to determine the future direction of the industry.