Chicago, September 16, 2022 (GLOBE NEWSWIRE) — The food inclusions market size is estimated to be worth $13.4Bn in 2022 and forecast to reach $18.7Bn by 2027, registering a CAGR of 6.9% from 2022 to 2027, according to a new report by MarketsandMarkets. ™. The inclination towards prepared food has increased dramatically due to changing population dynamics such as rising disposable income, adoption of Western culture especially in developing countries, rising population, increasing urbanization and the increase in the percentage of working women. In recent years, breakfast cereals, snack bars and other convenience foods have taken an important place in the diets of developing countries, resulting in increased food inclusion.
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217 – Tables
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The fruit and nut segment is estimated to hold the largest market share in the food inclusions market.
Especially after the pandemic, consumers have shown an interest in foods and beverages that have positive nutritional benefits and values. The world has seen an increase in demand for fruits rich in antioxidants and vitamins that boost immunity, such as raspberries and blueberries. Officials from several manufacturers of food inclusions report that consumers prefer various types of fruit and nut inclusions in prepared foods. For example, almonds are finding diverse applications in various baked goods such as muffins, cookies, brownies, and bread, promoting nutritional content and providing a premium look to baked goods. The increasing consumption of fruit and nut inclusions in various applications has resulted in a large market share of fruit and nuts in the type segment.
The bakery products segment is estimated to be the fastest growing application in the food inclusions market.
The market for food inclusions in bakery products is important, mainly in Western countries such as the US, Canada and European countries, since bakery products are part of the daily diet of consumers in these countries. According to the American Bakers Association, the baking industry contributes about 2% to the gross domestic product of the US. The baking industry in the country is highly fragmented, with 9,000 bakeries contributing about $3 billion in revenue, 75% of revenue is generated by 50 large companies. Groupo Bimbo, Dave’s Killer and Campbell Soup Company are the three largest companies accounting for 55% of total commercial bakery revenue in the country. Large company bases in various regions will help the food inclusions market grow through innovative product offerings during the forecast period.
Solid and semi-solid forms are the fastest growing form segment in the food inclusions market.
Solid and semi-solid forms consist of various forms such as chunky food inclusions, nuts, flakes and crisps, chips and nibs, and powder. Solid and semi-solid forms in the food inclusions market mainly include chunks, cubes, nuggets, balls, buttons, and spheres of various shapes and sizes offered by food inclusion manufacturers. The shape offers flexibility in terms of flavor, texture, mouthfeel, color and flavor. Additionally, the shape can be offered as coated and uncoated products, with smooth, shiny or rough textures, giving food and beverage manufacturers flexibility in terms of variety. Due to all these factors, solid and semi-solid inclusions are gaining more popularity compared to inclusions in liquid form.
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Europe is estimated to be the largest region for the food inclusions market in 2022.
The European market for food inclusions is led by countries such as Germany, the United Kingdom, France and Italy. As the bakery and confectionery markets in the European market have become saturated, the major players in the region are focusing on research and development to introduce new product categories with low-fat food inclusions. Changing consumer trends, such as the rising level of health awareness, which has forced consumers to pay more attention to their diet, have reshaped the overall baking industry in the country. Expanding product ranges to include healthier products helped businesses grow with changing consumer preference will drive the market for food inclusions during the forecast period.
This report includes a study on the marketing and development strategies, along with the product portfolios of the leading companies. It consists of profiles of leading companies, such as ADM (USA), Sensory Effects (USA), Barry Callebaut (Switzerland), AGRANA Beteiligungs-AG (Austria), Taura Natural Ingredients Ltd. (New Zealand), and Nimbus Foods Ltd (UK).
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