Moreover, the tectonic shift of the population from meat protein to plant protein has generated the concept of clean meat, which can be easily acquired from plant protein. In August 2019, Parabel USA Inc announced the launch of a neutral-colored protein ingredient from water lentils as an allergen-free substitute for any plant protein. Besides, manufacturers such as Beyond Meat and Impossible Foods are producing vegetarian products for the meat-eaters without compromising the taste, feel, and look of the meat. Also, scientists are in the process of extracting beta-glucan from mushrooms to help strengthen the immune system and produce fiber-rich inulin flour from chicory root. Moreover, post the President Trump's signature on the 2018 Farm Bill that allows the inclusion of cannabis in food and beverage industry, this psychoactive and relaxation quality infused ingredient is making way into the market as an important food processing ingredient. Several companies such as Constellation Brands, Molson Coors, and Hydropothecary Corp., are investing to make nonalcoholic and cannabis-infused drinks. These innovations are going to create an increase in the food processing ingredients market demand, paving opportunities for the market leaders. As of 2018, the Food Processing Ingredients Market size was evaluated at $33.7 billion, which is projected to escalate at a CAGR of 8% during the forecast period 2019-2025. The report details food processing ingredients market size by type and by applications, food processing ingredients market share by top 5 companies and also the market share by startups. Food Processing Ingredients Market Analysis: Key Application With time unfolding, the food processing ingredients market is set to witness the emergence of trendy products, paradigm-shifting innovations, and major deals. However, the major ingredient that will create a mark in the food processing ingredients marketplace is modified starch and starch derivatives. Used in skimmed milk, condensed milk, cheese, butter, fruit and vegetable juices, wafers, bakeries, frozen and canned products, ready-to-eat food, and others – modified starch and starch derivatives show major properties of viscosity, adhesiveness, and processing condition tolerance, and therefore, in stays demand by the food processors. The global starch derivatives market estimated around $55 billion in 2017 and is expected to grow at a CAGR of 5.70% during the forecast period of 2018 to 2023. A substantial part of this growth will also impact the food processing ingredients market in the upcoming years. The utilization of starch and starch derivatives in the food processing ingredients marketplace is expected to grow at a CAGR of 5.6% during the forecast period 2019-2025. North America Food Processing Ingredients Market Overview: The growing consumer interest in consumption and snacking of better-for-you food has compelled food and beverage companies to actively merge and acquire shares in a bid to overhaul their profile and invent path-breaking innovations. This is contributing to the growth of the North America food processing ingredients market. Also, the booming food and manufacturing industry of the U.S. is equally contributing to its growth. In 2018, North America possessed the largest food processing market share with approximately 34% amidst the global market. Here are the growth drivers and the trends that are enhancing the food processing market scope in North America Several Mergers and Acquisitions to Drive the North America Food Processing Ingredients Market In 2018, General Mills invested around $8 billion on Blue Buffalo, a company manufacturing natural pet food. Also, the same year witnessed Conagra Brands acquisition of Pinnacle Foods with $10.9 billion and the company made a mark on the frozen foods industry. Furthermore, Campbell Soup purchased snacking giant Snyder's-Lance with $5 billion. On the other hand, The Coca-Cola Company took a minority share in BodyArmor and acquired British chain Costa Coffee with $5.1 billion. These companies are leaders amongst the processed food manufacturers, who extensively use food processing ingredients for better output. Hence, the North America food processing ingredients market is going to flourish in the upcoming years, benefiting the market players. U.S. Food and Beverage Manufacturing Industry Poised to Boost the North America Food Processing Ingredients Market In 2016 around 5,639 food and beverage manufacturing plants using food processing ingredients are spread in California. The number on New York is 2,578 and 2,252 in Texas. In 2018, the US exported around $161 million worth food ingredients to Egypt and $16.1 billion worth to Canada. These array of figures evinces the U.S. as one of the leading food and beverage manufacturing industry, which uses food processing ingredients in the production process. Hence, the North America food processing ingredients market is going to heighten in the next years. Ingredion Incorporated's Latest Innovation to Create an Impact on the North America Food Processing Market Share Recently, the company invented chickpea-based hummus fries that are being available in North America. Also, the company came up with cold texturizer, N-DULGE C1, which when added to it will give an oily mouthfeel, although there is not much fat in it. These innovations will attract several consumers for a healthy diet, thereby reaping off good returns to the food processing ingredients market leader. Processing Market Trends & Growth Drivers: Consumers have increasingly grown concerned about their dietary habits and the rising medical cost is equally driving the population towards functional food. It uses food processing ingredients such as additives, sweeteners, probiotics such as emulsifiers, and acidity regulators, to present health and wellness among the population. Five Novel Synthetic Yeast Chromosomes to Heighten the Food Processing Market Growth Rate A team called Synthetic Yeast Project (Sc2.0) has developed five new synthetic yeast chromosomes that could catapult the advent of more nutritious food, encouraging less waste and processing efficiency. These innovations will create an impact on the global food processing ingredients market as these yeast are extensively deployed in baking cakes and bread. HEYLO to Bring an Upsurge in the Global Food Processing Ingredients Market In 2016, more than 1.9 billion adults were overweight, in which 650 million were obese. This has driven a sense of sugar cutting among the population. Israeli entrepreneur at Unavoo Food Technologies developed a patented sweetener, HEYLO that has the potential to replace traditional sugar. Hence, with this discovery, the food processing ingredients market players will fulfill consumer demand by making healthy food, thereby contributing to the market growth. Nestle's Latest Plans to Create an Impact on the Food Processing Ingredients Market While Nutella owner Ferrero Group acquired Nestlé's American candy business with $2.8 billion, the latter paid $7.15 billion to Starbucks to sell the chain's coffee beans and drinks in several outlets across the world. Furthermore, the company is planning to launch plant-based burgers in the U.S. called Awesome Burger. All these processed foods involve multifarious ingredients, thereby driving the food processing the ingredients market. Convenience Food Retail Industry and Processed Poultry and Meat Market to Directly Contribute to the Food Processing Ingredients Marketplace The current lifestyle has given rise to the convenience food which is commercially prepared with the help of food processing ingredients that can be typically consumed as a full meal. The global convenience food retail market is estimated to surpass $1,128.6 billion by 2025, growing at a CAGR of 4.49% during the forecast period 2018–2025. Also, processed poultry and meat market are estimated to grow at a CAGR of 7.35% during the forecast period 2018–2023. These processing include food processing ingredients. Therefore, these statistics evinces at a bright food processing market scope across the world. Food Processing Ingredients Market: Competitive Landscape The principal business leaders who are currently holding maximum food processing ingredients market shares in the world and are focusing on the expansion of their manufacturing capacity to gain an edge over other market players are Kerry Group plc, Cargill, Incorporated, Corbion Purac, Stevia First Corporation, Hermes Sweeteners Ltd, Tate & Lyle PLC, The Archer Daniels Midland Company, Riken Vitamin Co., Ltd., Palsgaard A/S, DuPont, and Danisco. Talk to one of our sales representative about the full report by providing your details in the link below:
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