Rapid Growth in the Demand From Convenience & Processed Food Industry for Food Processing Ingredients has Led Market Growth

Northrook, IL -- (SBWire) -- 05/12/2020 --The 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", 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.

he food processing ingredients market, based on type, has been segmented into modified starch & starch derivatives, proteins, food stabilizers, emulsifiers, yeast, enzymes, acidity regulators, antioxidants, and release agents. The market for yeast is projected to grow at the highest CAGR between 2018 and 2023. Growth in the bakery and brewery industries from countries such as the US, China, India, Australia, Italy, Spain, and Germany, are driving the yeast segment in the market.

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The market, by form, has been segmented into dry and liquid. The dry segment is estimated to dominate the market in 2018 and is projected to grow at a comparatively lower CAGR by 2023. This can be attributed to the better stability provided by dry food processing ingredients and ease of their handling. There is also minimal thermal damage of ingredients in their dry forms, making it the more preferred form of food processing ingredient.

The market, by source, has been segmented into natural and synthetic. The market was dominated by the natural food processing ingredients segment in 2018. 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.

Europe accounted for the largest share in the food processing ingredients market in 2018; however, Asia Pacific is projected to be the fastest-growing market through 2023. Improved lifestyles and changing 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.

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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).