Research Nester released a report titled “Bio-Based Food Ingredients Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the global bio-based food ingredients market in terms of market segmentation by product, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The bio-based food ingredients market is anticipated to record a CAGR of around 5.93% over the forecast period, i.e., 2020-2027. The market is projected to attain a significantly high market value of USD 2,986.99 million by the end of 2027. Bio-based food ingredients are derived from natural sources which are used to add a higher value of flavor as well as fragrance to the food. They are used for the preparation of various food products such as dairy, beverages, confectionary and other products. The market is segmented on the basis of product, applications and region. Based on the applications, the market is segmented into beverages, dairy, confectionary and others, out of which, the segment for beverages is anticipated to hold the largest share in the market with a market value of USD 743.36 million in 2018. Bio based food ingredients used in beverages increases the nutritional value of the food.
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Based on region, the bio-based food ingredients market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The market in North America is anticipated to hold the leading share on account of rising awareness among consumers about the benefits of natural ingredients. The market in Europe is projected to hold the second largest share in the market on the back of high demand for these products in Germany and UK. On the other hand, the market in Asia Pacific is predicted to grow at the highest rate of about 7.01% over the forecast period.
Rising Buying Capacity of People to Drive Market Growth
The growing GDP in countries is a major factor contributing towards the market growth. Additionally, over the past few years, the sale of organic food additives has witnessed significant growth which is further projected to accelerate the growth of the bio based food ingredients market. Further, the increasing demand for bio-based products in the food and beverages industry has witnessed substantial growth as a result of growing health concerns.However, the lack of awareness about bio-based food ingredients and their advantages in developing and under-developed countries is estimated to hamper the market growth.
This report also provides the existing competitive scenario of some of the key players of the global bio-based food ingredients market which includes company profiling ofAshland, Dow, Colorcon, Prasol Chemicals Pvt. Ltd., Shandong Head Europe B.V., Shin Etsu, Eastman Chemical Company, Corbion N.V., Alfa Aesar and BASF. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global bio-based food ingredients market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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Research Nester is a one-stop service provider with a client base in more than 50 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives for their future investment while avoiding forthcoming uncertainties. With an out-of-the-box mindset to produce statistical and analytical market research reports, we provide strategic consulting so that our clients can make wise business decisions with clarity while strategizing and planning for their forthcoming needs and succeed in achieving their future endeavors. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds.
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