Press Release Description
Food Inclusions Market Growth to Elevate Due to the Surging Consumption of Food & Beverages
The Global Food Inclusions Market size is valued at around USD 13 billion in 2022 & is projected to grow at a CAGR of about 25% during the forecast period of 2023-28, cites MarkNtel Advisors in the recent research report. The growing sale of bakeries, confectionery, and beverages across the globe have been the key aspects in contributing to the upgradation of the market.
Apart from this, the increasing sales of ready-to-eat meals & packaged food products have surged the production of frozen food, jams, etc., worldwide. The demand for these products has been growing due to the surging population, urbanization, and changes in the lifestyle of consumers across the globe. The population worldwide has been shifting towards the urban areas in search of better livelihood & job opportunities, which brings business to their daily life schedule.
Consumers prefer to consume ready-to-eat meals, bakeries, and other products for better nutrient intake in a limited time. Thus, the production of these food products contains different food inclusions, i.e., nuts, chocolate, caramel, etc., for enhancing the taste and flavor of the edible products, thereby positively impacting the Global Food Inclusions Market outlook.
Moreover, the rising trend for staying fit & healthy among citizens across the globe has stressed the food & beverages manufacturing companies to manufacture nutrient-rich edible products. Functional ingredients like superfoods, probiotics, prebiotics, antioxidants, and omega-3 fatty acids are included in various food products to cater to health-conscious consumers.
Furthermore, it is projected that the presence of the above-mentioned factors coupled with the surging consumption of baby food products containing improved nutrients & flavor would contribute to the expansion of the Global Food Inclusions Market during the future years.
Bakery Products to Witness a Steady Growth
Based on application, the Global Food Inclusions Market has been bifurcated into Cereal Products, Snacks and Bars, Bakery Products, Dairy and Frozen Desserts, and Chocolate & Confectionery Products. Among them, Bakery Products like bread, cakes, and pastries are projected to grow steadily in the coming years owing to the changing lifestyles of the population across the globe.
Owing to the fast & busy lifestyle of the population, including corporate office employees & students, consumers prefer to have bakery products in the breakfast to save time & get the maximum nutritional benefits. Also, the versatile characteristics of bakery products, which means that they can be enjoyed at any time of the day have played a key role in upscaling market sales of bakery products across the globe. They serve as staples for breakfast, lunch, dinner, and snacks, making them a versatile choice for consumers.
Considering consumer behavior, taste & preference, and other parameters, it is assumed that consumption of bakery products would continue to grow in the coming years as well, further improving the market outlook during the forecast period.
Asia-Pacific to Hold a Considerable Share in the Global Food Inclusions Market
Geographically, Asia-Pacific is estimated to hold the leading share in the Global Food Inclusions Market, owing to the enormous presence of food & beverage manufacturers producing cost-competitive food products, including local cuisines & traditional food such as dim sum, bubble tea, noodles, sushi, etc. These products increasingly use food inclusions of different types such as cereal, fruit & nut, confectioneries, etc., and the expansion in the production of these food items owing to population growth & urbanization would fuel the demand for food inclusions.
As the popularity of Chinese noodles in international markets grows due to their varied flavorings, the country's demand for natural flavoring agents is expected to rise in the coming years. Additionally, there is a growing trend for the increasing focus on health & fitness among the young generations, leading to an increased demand for healthier, natural, and functional food & beverage products. Hence, the expansion of the manufacturing units of these products would further amplify the Global Food Inclusions Market growth in the forecast period.
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Sensient Colors LLC, Taura Natural Ingredients Ltd., Georgia Nut Company, Nimbus Foods Ltd., Cargill Incorporated, Barry Callebaut, Kerry Group Plc, Tate & Lyle Plc, AGRANA Beteiligungs AG, FoodFlo International Ltd., and others are looking forward to strengthening their market position.
Key Questions Answered in the Research Report
- What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
- What are the trends influencing the current scenario of the market?
- What key factors would propel and impede the industry across the globe?
- How has the industry been evolving in terms of geography & product adoption?
- How has the competition been shaping across various countries?
- How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2018-28?
- Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
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