Market Leaders : Cargill and Tata & Lyle Continue to bring Innovative Solutions and Expanding Their Production Capacities to Further Strengthen Their Presence in the Food Inclusions Market
The food inclusions market size is estimated to be valued at USD 13.4 billion in 2022 and is projected to reach USD 18.7 billion by 2027, recording a CAGR of 6.9% during the forecast period in terms of value. The demand for food inclusions is projected to grow during the forecast period owing to the growth of the convenience foods such as bakery products, breakfast cereals, and snack bars, globally. The changing dietary habits have led to a significant rise in the consumption of convenience food worldwide, which in turn is expected to fuel the demand for food inclusions.
Key players in this market include ADM (US), Sensory Effects (US), Barry Callebaut (Switzerland), AGRANA Beteiligungs-AG (Austria), Taura Natural Ingredients Ltd. (New Zealand), and Nimbus Foods Ltd (UK).
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The existing players in the food inclusions market are attentive on improving their market shares. The top players in the market have been focusing on growing their market existence, enhancing their products, and partnering with many channel partners to cater to manufacturers across the globe. The food inclusions market has many organized players at the global level and unorganized players at the local level in several countries. The top ten players in the industry hold a market share of 55-60%. Furthermore, for new entrants, the entry barrier is high as this industry requires innovations in the formulation of new food inclusions in order to stand out in the global market.
Cargill (US) is one of the world’s leading manufacturers of manufactures and markets food, agricultural, financial, and industrial products and services. The company has around 24,000 employees worldwide serving food & beverage manufacturers, food service companies and retailers with food ingredients. It offers a range of food inclusion products through its cocoa and chocolate product segment for various applications such as frozen desserts, confectionery, beverage, and bakery applications. The company continues to grow through geographic expansions into strategic growth markets, outsourcing contracts, innovations, and acquisitions. The company is currently focused on acquisition and expansions in the food inclusions market. For Instance, in May 2021, Cargill acquired Leman Decoration Group, a leading supplier of cake decorations across the bakery sector, including the artisanal, small industrial, home-baking segments, and foodservice. The acquisition significantly broadens Cargill’s offerings in the decorations space, enabling the company’s cocoa and chocolate business to better serve gourmet customers in Europe and around the world.
ADM (US) is a well-established manufacturer of food & beverage ingredients, animal feed & feed ingredients, biofuels, and naturally derived alternatives to industrial chemicals. The company’s product portfolio includes vegetable oil, protein meal, corn sweetener, flour, biodiesel, ethanol, and other value-added food and feed ingredients.
The company functions through 4 business segments: Ag Services and Oilseeds, Carbohydrate Solutions, Nutrition, and Other Business. ADM operates through processing and manufacturing facilities across the US and worldwide; The company’s network spans more than 170 countries. It operates in the food ingredients business through its 250 ingredient plants in multiple locations, globally. It operates through several subsidiaries, such as Golden Peanut Company LLC (US), ADM Milling (US), ADM do Brasil Ltda (Brazil), Wild Flavors, Inc. (US), and ADM Hamburg AG (Germany). For instance- In december 2021 ADM acquired Flavor Infusion International, SA (FISA), a full-range flavor and specialty ingredient solutions provider for customers across Latin America. This acquisition represents important bolt-on addition to the capabilities in this high-value segment.
Related Reports:
Food Inclusions Market by Type (Chocolate, Fruit & Nut, Cereal, Confectionery), Application (Cereal Products, Snacks & Bars, Bakery Products; Dairy & Frozen Desserts, Chocolate & Confectionery Products), Form, Flavor and Region - Global Forecast to 2027
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