The global caramel ingredients market size is expected to reach USD 3.99 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 7.2% over the forecast period. Rising use of caramel in the food and beverages industry, particularly for bakery, confectionery, and beverage products, is the main factor driving the market. Changing consumer tastes, preferences, lifestyle, and incomes has played a key role in influencing F&B trends. Popularity of items such as salted caramel chocolates, caramel glazed muffins, and caramel lattes are driven by consumers and this poses as a lucrative opportunity for players.
Caramel chocolates are widely popular and their consumption all over the world in large quantities is an important factor in causing a rise in the growth of the market. The beverages segment is projected to register the fastest growth by the end of the forecast period, with most soda and cola companies using this ingredient in their products. Also, on the basis of form, liquid ingredients held the largest share of just under 45.0% in 2018, fueled by extensive usage in the beverage industry for alcoholic and non-alcoholic drinks.
Caramel ingredients market is segmented into coloring, topping, flavoring, and others, on the basis of application type. Among these segments, while coloring emerged as the dominant segment in terms of revenue, the topping segment is anticipated to witness the strongest growth over the forecast period. Market is rife with new product launches all over, for instance, McDonald’s Canada released a new fall-themed beverage and muffin in August 2019. The Caramel Pumpkin Spice Latte is a play on the conventional autumn favorite and is topped off with a smooth caramel pumpkin spice syrup.
There are several key players operating in the market, such as Cargill, Inc.; Nestlé S.A.; Mars Inc.; Kerry Group; Ferrero SpA; Sensient Technologies Corporation; Goetze’s Candy Company, Inc.; Frito-Lay; DDW The Color House; Sethness-Roquette Caramel Color; Bakels Worldwide; Alvin Caramel Colours; and Metarom. Players have been investing in various expansion strategies in order to gain a larger customer base and to strengthen their foothold in the global market, which is expected to lead the market towards a high growth trajectory.
Caramel Ingredients Market Report Highlights
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New product launches is a pertinent strategy used by major key players to boost their expansion. For instance, in February 2020, Nestle launched a brand new product made from responsibly sourced cocoa under the Nestle Cocoa Plan, named Aero Caramel.
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Collaboration among major players is one of the surest ways of making big gains in the market. Therefore, the US-headquartered Mars, Incorporated, group has confirmed acquisition of snacking brand Kind North America, in a major reported $5 billion deal, as the business continues its global expansion in the sector,
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The global caramel ingredients market was valued at USD 2.5 billion in 2018 and is expected register a CAGR of 7.2% from 2019 to 2025
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Based on form, granulated ingredients are expected to witness the fastest growth over the forecast period due to widespread application in the food industry as a topping and flavoring agent
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By application, coloring generated the highest value of USD 953.5 million in 2018 owing to increased usage of caramelizing colors in products such as tea, lemonade, fruit-based beverages, and beer
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On the basis of end use, the confectionery industry accounted for the largest share of 36.1% in 2018 due to the application of caramel ingredients in chocolates and candies. On the other hand, the beverage sector is expected to register the highest CAGR of 7.7% over the forecast period
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Caramel Ingredients Market Segmentation
Grand View Research has segmented the global caramel ingredients market on the basis of form, application, end use, and region:
Caramel Ingredients Form Outlook (Revenue, USD Million, 2015 – 2025)
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Solid
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Granulated
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Liquid
Caramel Ingredients Application Outlook (Revenue, USD Million, 2015 – 2025)
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Coloring
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Topping
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Flavoring
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Others
Caramel Ingredients End-use Outlook (Revenue, USD Million, 2015 – 2025)
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Bakery
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Confectionery
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Ice Cream & Desserts
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Beverages
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Others
Caramel Ingredients Regional Outlook (Revenue, USD Million, 2015 – 2025)
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North America
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U.S.
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Europe
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Switzerland
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Belgium
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Asia Pacific
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India
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China
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Central and South America
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Brazil
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Middle East and Africa
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South Africa
List of Key Players of Caramel Ingredients Market
• Cargill, Inc.
• Nestlé S.A.
• Mars Inc.
• Kerry Group
• Ferrero SpA
• Sensient Technologies Corporation
• Goetze’s Candy Company, Inc.
• Frito-Lay
• DDW The Color House
• Sethness-Roquette Caramel Color
• Bakels Worldwide
• Alvin Caramel Colours
• Metarom.
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