The Business Research Company’s Food Ingredients Global Market Report 2021 – COVID-19 Growth And Change
LONDON, GREATER LONDON, UK, September 15, 2021 /EINPresswire.com/ — The introduction to technologically advanced solutions is an emerging trend in the food ingredients market. Major food ingredients firms are concentrating on developing innovative solutions for food ingredients to provide global food industries with next-generation alternative proteins and other ingredients. For instance, in February 2019, Motif Ingredients, a US-based food ingredients company is leveraging biotechnology to develop unique food solutions that provide consumers more options without sacrificing taste or nutrition.
The global food ingredients market size is expected to grow from $38.86 billion in 2020 to $42.88 billion in 2021 at a compound annual growth rate (CAGR) of 10.3%. The growth in the food ingredients market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The food ingredients market is expected to reach $59.83 billion in 2025 at a CAGR of 8.7%.
North America was the largest region in the food ingredients market in 2020. Europe was the second-largest market in the food ingredients market. The regions covered in the food ingredients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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In June 2021, Kerry Group, an Ireland-based food company offering food and beverage ingredients acquired Niacet for $1,011.80 million (€853 million). Through this acquisition, Kerry integrated Niacet into its global food protection and preservation platform, enhancing its food protection, food ingredient, and preservation strategy to offer new products and technologies in a broader market. Niacet is a US-based company that offers food ingredients.
Major players covered in the global food ingredients industry are Kerry Group, Cargill Inc., Archer Daniels Midland, Stevia First Corporation, Hermes Sweeteners Ltd, Riken Vitamin, Koninklijke DSM N.V, Palsgaard, Danisco, Angel Yeast Co. Ltd., Aral Foods amber, Bunge Limited, Glanbia Plc, Ingredion Incorporated, and Corbion Purac.
TBRC’s global food ingredients market report is segmented by product type into starches, vegetable oils and fats, natural sweeteners, enzymes and antioxidants, natural flavorings and colours, functional ingredients, others, by function into sweeteners, emulsifier, flavors and color additives, preservatives, fat replacers, nutrients, stabilizers, thickeners, binders, and texturizers, pH control agents and acidulants, others, by application into pharmaceuticals, food and beverages, animal feed, others.
Food Ingredients Global Market Report 2021 – By Product Type (Starches, Vegetable Oils And Fats, Natural Sweeteners, Enzymes And Antioxidants, Natural Flavorings And Colours, Functional Ingredients), By Function (Sweeteners, Emulsifier, Flavors And Color Additives, Preservatives, Fat Replacers, Nutrients, Stabilizers, Thickeners, Binders, And Texturizers, pH Control Agents And Acidulants), By Application (Pharmaceuticals, Food And Beverages, Animal Feed), COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provides food ingredients market overview, forecast food ingredients market size and growth for the whole market, food ingredients market segments, and geographies, food ingredients market trends, food ingredients market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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