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Asia Pacific Food Inclusions Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type, by Form, and Application

Asia Pacific Food Inclusions Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type, by Form, and Application

  • August 2021
  • 134 pages
  • ID: 6134234
  • Format: PDF
  • The Insight Partners

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The food inclusions market in Asia Pacific is expected to grow from US$ 3,094.00 million in 2021 to US$ 4,750.35 million by 2028; it is estimated to grow at a CAGR of 6.3% from 2021 to 2028.

Changing consumer preference has always been major factor influencing the food & beverages industry.Continuous shifts in consumer preferences are propelling food manufacturers to introduce gluten-free, organic, dairy-free, and vegan diets products that meet dietary needs of various consumers.

Further, the growing trend of veganism, especially in the western countries, is a major consumer trend influencing the growth of food inclusions market.According to data cited by the Sainsbury’s Future of Food report, the vegan and vegetarian population is expected to account for a quarter of the global population by 2025.

Vegans and several flexitarians are opting non-dairy products, such as plant-based ice creams and yogurts, which, in turn is boosting the demand for non-dairy/plant-based food inclusions such as nuts, seeds, and fruits.Further, the rise in the prevalence of celiac diseases is driving a shift in consumer preference toward gluten-free products.

According to data cited by The Institute for Functional Medicine, based on their 2020 meta-analysis, there has been an increase in the incidence of celiac disease by an average of 7.5% per year in the past decades. Thus, to cater to the rising demand for gluten-free products, food manufacturers are focusing on incorporating gluten-free food inclusions in their products. Thus, changing consumer preferences are giving rise to several key trends that are bound to affect the food inclusions market growth in the coming years.

The COVID-19 is anticipated to cause a significant economic loss in the Asia Pacific.In the Asia Pacific region, India is the worst affected country due to COVID-19 followed by japan, South Korea, and China.

The consequence and impact can be even worse and totally depends on the spread of the virus.The governments of various Asia Pacific countries are taking possible steps to restrict the spread of the virus by announcing lockdown, which, in turn has negatively impacted the revenue generated by the food inclusions market.

The food inclusions market has had a major impact on its product trends. The pandemic has encouraged consumers to opt healthy food products with various functional properties.

The food inclusion market is segmented based on type, form, and application.Based on application, the market is segmented into dairy and frozen desserts, bakery products, breakfast cereals, chocolate and confectionery products, and others.

In 2020, the bakery products segment held the largest share in the market.Bakery products include cookies, bagels, buns, sandwiches, pastries, cakes, biscuits, muffins, pizzas, brownies, etc.

Food inclusions are extensively used in bakery products for topping, flavoring, decoration, and other purposes.Food inclusions are available as slices, flakes, nuggets, and pellets, among other forms.

Food inclusions are available all year round, convenient, and retain flavors and nutrients, further boosting the demand for food inclusions. Further, fast-paced and hectic lifestyles have driven customers to embrace convenience and ready-to-eat (RTE) food products with healthy constituents, which is boosting the demand for bakery products enhanced with food inclusions such as fruits, seeds, and nuts.

The Asia Pacific food inclusions market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining overview and forecast for the Asia Pacific food inclusions market with respect to all the market segments.Also, multiple primary interviews have been conducted with industry participants to validate the data as well as to gain more analytical insights into the topic.

The participants typically involved in this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Asia Pacific food inclusion market. ADM; AGRANA Beteiligungs-AG; Puratos; Barry Callebaut; Cargill, Incorporated; Kerry Group; Georgia Nut Company; Taura Natural Ingredients Ltd.; and Sensient Technologies are among the leading companies in the market.

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