The growth of the market is driven by the global expansion in the processed foods market and the increasing demand from developing economies.
Market Size – USD 33.67 billion in 2018, Market Growth - CAGR of 7.8%, Market Trends – Rapidly rising population and higher urbanization have boosted global demand for processed food products, driving food demand.
NEW YORK, March 21, 2019 (GLOBE NEWSWIRE) -- The Food Ingredients Market is forecasted to grow from USD 33.67 billion in 2018 to USD 63.11 billion by 2026, at a CAGR of 7.8%, during the forecast period. A rapidly rising population and higher urbanization have boosted global demand for processed food products, driving food demand.
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Rapid urbanization and rising population density with their growing purchasing power has led to rapid adoption of convenience foods, leading to demand for different food ingredients. Consumers are becoming more health-conscious and demanding for natural food ingredients with the increase in foodborne diseases. Over the past decade, the number of women in the workforce has seen a tremendous surge in demand for ready-to-eat foods.
The market for Japan is forecasted to reach USD 21.14 million in revenue in 2026. Europe's market will record a lower CAGR than Asia Pacific’s market, but by 2026-end it will account for comparatively larger revenues. By 2026, the Middle East and Africa (MEA) will register a relatively slower expansion on the global market for food ingredients.
Further key findings from the report suggest
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Segments covered in the report:
This report forecasts volume and revenue growth at a global, regional & country level, and provides an analysis on the industry trends in each of the sub-segments from 2016 to 2026. For the purpose of this study, Reports and Data have segmented the market on the basis of type, applications and regional analysis.
Type (Kilo Tons and Revenue, USD Million; 2016-2026)
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Application (Kilo Tons and Revenue, USD Million; 2016-2026)
Region (Kilo Tons and Revenue, USD Million; 2016-2026)
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