The global integrated food ingredients market is expected to witness significant growth on account of major factors such as increasing disposable income, busy lifestyles, and rising population. Integrated food ingredients are considered as a distinctive type of food ingredients, which helps to augment the taste, color, and appearance of the distinct kind of food products.
Integrated Food Ingredient is the distinctive ingredients that develop the color and taste of the food and surges the shelf life of the food. These ingredients also help to increase the life span of perishable food products. Furthermore, these integrated food ingredients are used for other purposes in the food & beverage industry as coloring and texturizing agents. The most common form of these kinds of elements is taste-enhancing agents for a diverse type of food product.
Additionally, the integrated food ingredients market is majorly driven by factors such as growing technological advancement in emerging countries, including India, China, and Brazil, rising R&D investments in various end-user industries, and increasing demand for processed and convenience foods owing to changing lifestyle, and multi-functionality of hydrocolloids.
Healthy eating, informality, indulgence, provenance premiumization, and value scrutiny are some of the essential factors driving the growth of the integrated food ingredients market. Major manufacturers are facing severe concerns because of the rising demand for healthy and vegan products. The companies are expanding their products and incorporating new strategies to serve this demographic. Consumers are now demanding integrated foods that would keep them energized and healthy.
The rising trend of treating themselves has been the most significant driving force for savory snacks owing to their superior textures, decadent flavors, and premium ingredients. However, premiumization doesn’t mean that people are eager to pay more for their desired foods. Therefore, processed snacked manufacturers have started looking for innovative technologies that will maximize the use of raw materials. For instance, manufacturers have begun using seasoning technology and fryers to maximize oil use without compromising with the product quality.
Manufacturers are focusing on incorporating ethnic flavors to contemporize and freshen up their products. Also, an increase in the number of online food providers who are trying to make their routes in every possible market niches because of their skilled techniques, high-quality ingredients, and transparency in production and sourcing has caused a competitive threat to the global players.
Based on function, the market is segmented into taste, color, form, texture, and preservation. Taste enhancers and coloring are expected to dominate the market in terms of value. The application of these integrated food ingredients in numerous applications such as beverages, dairy products, meat, and savory products develop the taste of food products.
The food preservation plays a significant role in the food & beverage industry that makes the preservation segment the fastest-growing segment. The preservation segment surges the shelf life of a product. The increasing awareness among producers to preserve the food in numerous ways is expected to boost the market growth.
Based on the solutions market is segmented into beverage, dairy, snacks & savory, bakery & confectionery, and meat products. The meat products segment accounted for the largest share of the global integrated food ingredients market in 2018. These ingredients are highly used in the industry to preserve meat for a longer shelf life, which boosts the growth of the meat export business of the North America region. The meat products such as poultry, beef, pork, and swine are most widely consumed in the U.S., thus affecting the processed meat market in the country.
Based on the region, North America is accounted for the largest market for the integrated food ingredients products, owing to the presence of several integrated food ingredients manufacturing companies in this region. The Asia Pacific is accounted for the fastest-growing region in the global market. The market is experiencing rapid growth owing to the changing lifestyles of customers.
Consumer preferences are frequently shifting in response to diet diversification, rapid urbanization, and the liberalization of foreign direct investment in the food sector. The increase in purchasing power, rise in incomes, and substantial consumer demand for healthy & nutritional products are likely to provide favorable prospects for the growth and expansion of the market in this region.
The major players in the integrated food ingredients market are Döhler, Symrise AG, International Flavors & Fragrances, Koninklijke DSM N.V., Tate & Lyle PLC, BASF SE, Kerry Group plc, DuPont de Nemours, Inc., Associated British Foods plc, and The Archer Daniels Midland Company.
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Weaker consumer demand for lifestyle and wellbeing products due to social restrictions and lockdown policies shall have a negative impact on the demand patterns of cosmetic ingredients and certain categories of food additives. However, easing restrictions and public discourse about restarting economic activities in the consumer goods marketspace indicates that, the recovery of demand is imminent. The report will account for Covid19 as a key market contributor.
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