|Status : Upcoming||Report Code : VRFB11005||Industry : Food & Beverage||Available Format :|
Food processing is the transformation of agriculture products into food. The food processing turns the ingredients into familiar foods. The increasing demand for processed food and an upsurge in the requirement for the natural ingredients are the major factors driving the growth of the food processing ingredients market. The market has witnessed high demand for modified starch & starch derivatives due to the upsurge in population, ample accessibility of raw materials such as corn and wheat and an escalation in the requirement for processed food products.
Insight by Type
On the basis of type, the food processing ingredients market is categorized into modified starch & starch derivatives, enzymes, yeast, proteins, antioxidants, emulsifiers, food stabilizers, acidity regulators, and release agents. Among all types, the modified starch & starch derivatives segment accounted the largest share in the market due to the upsurge in population, ample accessibility of raw materials such as corn and wheat and an escalation in the requirement for processed food products.
In addition, the yeast segment is expected to grow at the fastest rate in the market due to evolution in brewery and bakery industries, the upsurge in consumer demand for innovative tastes of wine and technological advancements such as reverse osmosis and spinning cone column in the wine market.
Insight by Form
On the basis of form, the market is subdivided into dry ingredients and liquid ingredients. Among both forms, the dry ingredients segment accounted for the larger share in the market due to the easiness of handling, anticipation of improved stability in food processing techniques, and are specialty to minimal thermal damage.
Insight by Source
On the basis of source, the market is subdivided into the natural source and synthetic source. Among both sources, the natural source segment accounted the largest share and is expected to grow at the fastest rate in the market due to busy lifestyles, consumption models in urban areas, and improved requirement for food products with health advantages.
Insight by Application
On the basis of application, the market is subdivided into dairy & frozen desserts, beverages, convenience foods, bakery & confectionery products, and others. Among all the applications, the beverages segment is expected to grow at the fastest rate in the food processing ingredients market due to mounting demand for nutritious food.
Speedy progress in the requirement for processed food, optimistic progress tendency in alcoholic beverages consumption, mounting alertness towards the consumption of healthy products, the upsurge in the requirement for the natural ingredients and supplementary health advantages of food processing ingredients are the primary growth drivers for food processing ingredients industry.
In addition, changing lifestyle, growing tendency of accepting clean labels, working women population, mounting demand for protein and antioxidants products and upsurge in the number of dual-income households are also facilitating the growth of the global food processing ingredients market.
An increase in occurrences of food-related frauds and changeable cost of raw materials are the major challenges for the growth of food processing ingredients market.
Globally, the manufacturing companies trying to enter the food processing ingredients market are required to maintain stringent regulatory standards. This offers an edge to the established players in the industry competition. Moreover, the high level of capital requirement also poses a major barrier for the entry of new players.
Geographically, Europe is the largest food processing ingredients market as in the region the demand for food and beverage manufacturers is augmented. In addition, mounting urbanization and standards of living, the mounting need for a wide range of food products and increasing requirement for bakery products, fast food products, meat, confectionery products, and beverages have boosted the demand for food processing ingredients market in the European region.
Asia-Pacific is observed to witness the fastest growth in the market, due to increasing demand for enhanced food quality and transformed consumer perception. In addition, enhanced lifestyle, large population base and mounting disposable income are also creating a positive impact on the food processing ingredients market growth in the region.
Key players in the food processing ingredients industry are catering to the demand by investing in new product launches in their product portfolio across the globe. In July 2018, Archer Daniels Midland Company and Aston Foods and Food Ingredients have launched 50-50 joint venture to provide sweeteners and starches to customers in Russia. Cargill, Kerry Group, Arla Foods, CHR. Hansen Holdings A/S, Associated British Foods PLC, Archer Daniels Midland Company, Ingredion Incorporated, Ashland Global Holdings Inc., Tate & Lyle PLC, and Nexira are the key players offering food processing ingredients.