VANCOUVER, BC, Oct. 14, 2020
- The growth of the market is driven by the expansion of the ready-to-serve foods and processed foods market and the escalating demand from developing economies.
- Market Size – USD 37.68 Billion in 2019, Market Growth - CAGR of 10.6%, Market Trends – Higher demand in the processing and storing of bakery & beverage products
VANCOUVER, BC, Oct. 14, 2020 /PRNewswire/ -- The Global Food Ingredients Market is forecast to be worth USD 84.97 billion by 2027, according to a new report by Emergen Research. The key factors influencing the market include higher demand for natural food ingredients, the increasing adoption of convenience foods, and a tremendous surge in demand for ready-to-eat food products.
Rising consumer preference for higher nutritious value, increasing requirement for cold-storage foods, the proliferation of ready-made packaged & ready-to-serve foods, foods with lower calorific values & dietary foods, and cheaper alternatives of premium edibles are other market driving factors. Food Flavors and Enhancers have witnessed significant research & development undertaken by flavor manufacturers, and a higher preference has been attributed to natural extracts and fruit flavoring agents.
The global food ingredients market is expected to remain a competitive and fragmented landscape consisting of a number of both small start-ups and medium enterprises, and large conglomerates. During the projected era, increasing demand for technological development and higher diversification in product offerings create enormous growth potential for innovative players.
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Further key findings from the report suggest
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For the purpose of this report, Emergen Research has segmented the Global Food Ingredients Market on the basis of Type, Application, Sales Channel, and Region:
Type Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
Application Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
Sales Channel Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
Regional Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
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