Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 20.1 Billion | USD 70 Billion | 11% | 2021 |
FrequentlyAsked Questions
The global food processing ingredient market is been propelled by a shift in customer behavior toward food safety. In addition to this, an increase in demand for organic or natural food ingredients and a growing preference for healthy food & beverages are also some of the key aspects that are fostering the market growth. Moreover, food processing ingredients give food certain qualities including moisture, flavor, flow, and texture resulting in the growth of consumption of processed food products thereby driving the market growth.
According to the Zion Market Research report, the global food processing ingredient market was worth about 48.12 (USD billion) in 2021 and is predicted to grow to around 76.23 (USD billion) by 2028, with a compound annual growth rate (CAGR) of around 5.9 percent.
Geographically, Europe is anticipated to dominate the market for food processing ingredient. This is majorly due to well-developed food industry, high consumption of confectionery & bakery items, and high consumption of alcoholic drinks among consumers in nations.
Some of the prominent players that are operating in the global food processing ingredient market include Kerry Group, Cargill, Inc., E. I. Du Pont De Nemours and Company, Arla Foods amba, Corbion N.V., Koninklijke DSM N.V., Dairy Crest Group PLC, Ingredion, Archer Daniels Midland Company, and Tate & Lyle Public Limited Company.
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