Food inclusions market worth US$15.78b by 2023
According to new research the global market for food inclusions is projected to reach USD 15.78 billion by 2023, with the chocolate segment projected to dominate.
Inclusions are extra ingredients that are added to food to improve aesthetics and organoleptic & sensory properties of food products, resulting in an enhanced appeal.
In 2018, the chocolate segment is estimated to account for the largest share in the Food Inclusions Market. Chocolate is among the most preferred and popular flavors among consumers, worldwide, and is a major factor that is expected to drive significant consumption of chocolate inclusions in the food & beverage industry. The use of chocolate inclusions adds gloss and enhances the taste of products, while also enhancing other organoleptic properties. It is a popular inclusion in food applications such as confectionery, ice cream, bakery, dairy, beverages, frozen desserts, and cereal products.
Cereal products, snacks, and bars are estimated to form the major application in which food inclusions are most widely used. The consumption of various types of food inclusions in this application is largely attributed to the multiple benefits these inclusions add to the products in this category, such as addition of required flavors (fruit, chocolate, caramel, and nut), enhancement in product appearance in terms of color and visibility, and provision of required textures to products. Further, the use of inclusions enhanced the product value, both in terms of nutritional aspects as well as consumer requirements that drive the use of food inclusions in this segment.
The Asia Pacific region is projected to be the fastest-growing market for food inclusions over the next five years, owing to an increase in overall economic growth, with diversity in income levels, technology, and demand from end consumers leading to enhanced scope for future growth. The main countries contributing significantly toward the growth of the market in this region are China, Japan, and Australia & New Zealand. China has always been a huge consumer base for food products, due to its large population base. The increasing purchasing power of consumers, due to the economic development in China and the influence of the Western culture on the Chinese urban middle-class, has led to an increase in demand for high- & premium-quality food products.
In this region, countries such as China and Japan are expected to account for a major share of the market. India is projected to be one of the fastest-growing markets for food inclusions in the Asia Pacific region.
“Food Inclusions Market by Type (Chocolate, Fruit & Nut, Cereal, Flavored Sugar & Caramel, Confectionery), Application (Cereal, Snacks, and Bars, Bakery, Dairy & Frozen Desserts, Chocolate & Confectionery), Form, Flavor, and Region – Global Forecast to 2023″ was published by MarketsandMarkets.