The escalating growth of the working population coupled with the rising disposable income, changing dietary patterns of consumers, and intensifying bakery product consumption across the globe is driving the Caramel Ingredient market. Moreover, the rising demand for the confectionery and bakery products specifically and the presence of manufacturers and sellers on the e-commerce platform is driving the Caramel Ingredient market across the globe.
According to the MarkNtel Advisors’ research report titled “Global Caramel Ingredient Market Analysis, 2020”, the Global Caramel Ingredient market is expected to surge at a CAGR of around 7.50% during 2020-25. North America acquired the major market of the Global Caramel Ingredient industry largely on an account of rising number of manufacturing facilities across the globe. According to the National Confectioners Association, there were more than 1,000 candy manufacturing facilities in the United States as of Dec 2019; and the numbers are expected to increase in the coming years with the growing demand for bakery goods, confectionery and beverages etc.
Moreover, the coloring segment dominated the market in 2019 due to the rising demand for colorful candies and chocolate which consists of caramel, coupled with the increasing theme-based celebrations across the globe. In addition, the growing number of coffee shops across the globe is resulting into the demand for caramel ingredient.
In the same year, confectionery segment acquired the substantial market share in Caramel Ingredient market on an account of the extensive use of caramel in the products such as chocolate and candies. However, the beverage industry is expected to grow at a rapid pace due to the vast usage in the alcoholic and non-alcoholic drinks.
Product Innovation by the Companies to Lead to Stiff Competition
The companies which largely use caramel ingredients in their products are actively expanding on R&D and launching new products to acquire the major market share. For instance, “Nestle” and “Starbucks” announced to launch refrigerated Starbucks creamers across the globe in 2019. The leading players with a considerable share in the industry are Cargill Inc., Nestle S.A., Mars Inc., Kerry Group, Ferrero SpA, Goetze’s Candy Company, Inc., DDW The Color House etc.
Key Questions Answered in the Market Research Report
1. What are the key overall market statistics or market estimates (Market Overview, Market Size- By Revenue, Market Segmentation, Market Shares) of Global Caramel Ingredient Market?
2. What are the region wise industry size, growth drivers and challenges key market trends?
3. What are the key innovations, technology upgrades, opportunities, regulations, growth drivers and challenges in the Global Caramel Ingredient Market?
4. Who are the key competitors or market players and how they perform in Global Caramel Ingredient Market, competitive benchmarking matrix?
5. What are the key results derived from the market surveys conducted during the course of Global Caramel Ingredient Market study?