Summary
Major players in the caramel ingredients market are Alvin Caramel Colours, Bakels Worldwide, Cargill, Inc., DDW The Color House, Sethness-Roquette Caramel Color, Goetze’s Candy Company, Inc., Göteborg’s Food Budapest ZRt, Kerry Group plc, Mars Inc., Martin Braun KG, Metarom , Nestlé S.A, NIGAY SAS, Puratos Group, Sensient Technologies Corporation, and Haribo.
The global caramel ingredients market is expected to grow from $2.45 billion in 2022 to $2.64 billion in 2023 at a compound annual growth rate (CAGR) of 7.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The caramel ingredients market is expected to reach $3.46 billion in 2027 at a compound annual growth rate (CAGR) of 7.2%.
The caramel ingredients market consists of sales of coatings and icings. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (Inc.luding downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market Inc.ludes related services sold by the creators of the goods.
Caramel ingredients refer to the ingredients made up of golden-brown to a dark-brown substances produced by boiling sugar at a high temperature.The caramel ingredients have a sweet, nutty, buttery, or bitter flavor and are used mainly as a coloring and flavoring agent.
Caramel is used in making candies, desserts, or drinks to give them flavor. Several delicacies, Inc.luding chocolates, caramel corn, and peanut brittle, use caramel as a binding agent.
Asia-Pacific was the largest region in the caramel ingredients market in 2022.North America is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of caramel ingredients are fillings, toppings, Inc.lusions, colors, flavors, and other types. Filling refers to a smooth, buttery caramel filling that sets firmly enough for cookies, macarons, cakes, and cupcakes. A filling is a food mixture used to fill in an eatery, such as a pastry or a sandwich. The various forms of caramel ingredients are solid, liquid, granular, and powder that are Inc.luded in confectionery products, ice creams and cakes, bakery products, beverages, alcoholic, non-alcoholic, and other applications.
The growth in the convenience food industry is driving the caramel ingredients market.Convenience food is a food type, usually a whole meal, that is professionally pre-prepared and needs only minimal additional preparation on the part of the consumer.
The lifestyle, tastes, and preferences of consumers are rapidly changing.Due to a lack of time to prepare home-cooked food and a willingness to experiment and explore different tastes, people are shifting toward convenience food.
Numerous convenience food products can enhance flavor and appearance using caramelized sugars and caramel colors.Stocks, bouillons, dry mixes for soup and sauces, marinades, seasoning and spice mixes, and other products are all given a fuller, more rounded flavor and uniform color by adding caramelized sugars.
According to a Syntegon report from March 2021, pre-packaged readymade meals, prepared meal kits, frozen dishes, and desserts led to a growth of convenience food by 32%. Therefore the Inc.rease in demand for convenience food will propel the caramel ingredients market.
New product innovations are a key trend in the caramel ingredients market.Various innovations, such as of clean-label and plant-based fats, are gaining traction.
Plant-based caramel products contain minimally processed fruits, vegetables, whole grains, legumes, and others, giving them a healthy and premium value.For instance, in September 2021, AAK, a Sweden-based company specializing in plant-based oils for various consumable products, developed Akomel.
Akomel is a portfolio of clean-label, plant-based fats from sustainable sources that are non-hydrogenated, non-trans, and low in saturated fat. SInc.e Akomel solutions are specially formulated vegetable fats, they are an excellent alternative when creating caramel goods for the expanding premium market, where superior ingredients and more hygienic formulations are significant factors.
In December 2021, Givaudan, a Switzerland-based company that manufactures flavors, fragrances, and active cosmetic ingredients, acquired DDW The Color House, for an undisclosed amount.Through the acquisition, Givaudan established itself as a leader in natural colors, strengthening its capacity to develop "Feel Good" food experiences.
DDW, The Color House is a US-based company that provides caramel color, burnt sugar & natural colorings for the food and beverage industry.
The countries covered in the Caramel Ingredients market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not Inc.lude revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The caramel ingredients market research report is one of a series of new reports that provides caramel ingredients market statistics, Inc.luding caramel ingredients industry global market size, regional shares, competitors with a caramel ingredients market share, detailed caramel ingredients market segments, market trends and opportunities, and any further data you may need to thrive in the caramel ingredients industry. This caramel ingredients market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
