The report “Food Processing Ingredients Market by Type (Modified Starch & Starch Derivatives, Proteins, Food Stabilizers, Emulsifiers, Yeast, Enzymes, Acidity Regulators, Antioxidants, and Release Agents), Form, Source, Application, and Region – Global Forecast to 2023″, The food processing ingredients market is estimated to be valued at USD 41.40 Billion in 2018 and is projected to reach USD 55.99 Billion by 2023, at a CAGR of 6.2%. The market is growing, due to a rising global awareness toward the consumption of healthy products, and a booming trend of adopting clean labels, which has led to the increase in the demand for natural food processing ingredients. Additionally, a rapid increase in the adoption of processed food products, due to changing lifestyles, an increase in the number of dual-income households, and working women population have led to the growing demand for food processing ingredients.
Browse 85 market data Tables and 50 Figures spread through 195 Pages and in-depth TOC on “Food Processing Ingredients Market – Global Forecast to 2023”
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Modified starch & starch derivatives are estimated to form the largest segment in 2018
The food processing ingredients market, by type, is estimated to be dominated by the modified starch & starch derivatives segment. The demand for this type of food processing ingredient is majorly derived from various processed food products such as cream fillings, canned products, sauces, and soup mixes. These are typically used as thickeners and stabilizers in such products. The increase in population, a rise in demand for processed food products, and abundant availability of raw materials such as corn and wheat have been aiding market growth for the segment.
The yeast segment is projected to grow at the highest CAGR
The yeast segment is estimated to grow at the highest rate in food processing ingredients market in 2018. Increase in consumer demand for newer tastes of wines including blackberry, apple, and orange and the rise in environmental sustainability have created challenges for innovations in wine fermentation for wine producers. Technological advancements such as spinning cone column and reverse osmosis provide many lucrative opportunities for innovations in the wine market, which has been propelling the importance of yeast in food processing ingredients; this, in turn, is driving the market for food processing ingredients.
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Europe is set to lead the food processing ingredients market, with the largest share in 2018
The European market is estimated to be the largest in 2018, owing to the rising urbanization and standard of living, and increased demand from food & beverage manufacturers. It remains as one of the important markets for food processing ingredient companies, due to its size and regulatory environment. The market is driven by consumer demand for a wide range of food products such as frozen novelties, bakery products, confectionery products, beverages, and meat. The increasing demand for convenience, confectionery & bakery, and fast food products acts as a key driver for the growth of the food processing ingredients market in the UK, France, and Germany. The European market is projected to grow at a significant growth rate from 2018 to 2023.
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