Portland, OR -- (SBWIRE) -- 08/05/2017 -- The market for caramel ingredients is on the rise as the consumers across the globe are giving more preference to packaged and nutritional food & beverage products. Also, there is a trend of food decoration that is increasingly being adopted by the consumers. These factors are influencing the market for caramel ingredients. Also, the demand for frozen bakery products have increased as the consumers need ready to make products due to their busy lifestyle and increase in income.
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There are different kinds of caramel ingredients that are used for wide variety of applications. The companies in this market focus on expansions, agreements, acquisitions, new launches and develop wide variety of caramel ingredients, thereby driving the market for caramel ingredients. The drivers for this market include increasing disposable income, busy lifestyle, increasing demand for frozen baked products, and increasing working women population. Increasing adoption of caramel ingredients especially for confectionery products also drives the market for caramel ingredients.
On the basis of type, the caramel ingredients market is segmented into colors, toppings, fillings, flavors, and others. The toppings caramel ingredients segment was the largest segment in 2015 in terms of value and is expected to grow at highest rate during the forecast period as compared other caramel ingredients mainly due to increasing demand for food and desert decoration in the market. Based on forms, it is categorized into solid, liquid, and granular/powder. On the basis of application, the market is segmented into bakery, deserts & ice creams, confectionery, beverages, and others
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Based on geography, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is the largest market in terms of both volume and value in the year 2015 due to growing disposable income and increasing population in this region. Regional markets are further split into key countries in this study. The key strategies adopted by companies to expand are expansions, acquisition, product launches, and collaborations. Key players of this market are Cargill Incorporated, Kerry Group, Nigay, Bakels Worldwide, Sensient Technologies Corporation, Puratos Group, Sethness Caramel Color, among others.
CARAMEL INGREDIENTS MARKET SEGMENTS:
- Deserts & Ice Creams
- North America