New York, US, Nov. 08, 2022 (GLOBE NEWSWIRE) -- Caramel Market Overview
Market Research Future (MRFR) 's report highlights "Caramel Market Information By Function, Form, Application, and Region - Forecast till 2030", the market will reach USD 3.45 Billion by 2030, at 5.9% CAGR.
Market Synopsis
When sugar and water are combined and heated, caramel is created. A common ingredient in confections is caramel. Caramel has a distinctly sweet flavor and enticing brown hue. Caramelization is the process by which caramel forms. One of the most well-liked flavors in the US market is caramel. For a range of sweets and desserts, caramel can be used to make candies, creams, nuts, cookies, and marshmallows. Many confectionery goods use caramel. Caramel is defined by its distinct sweetness and brownish hue. Some of the most popular brands in this part of the US is caramel. Products like sweets, creams, almonds, marshmallows, and cookies include caramel. Additionally, it is used as decoration when serving various sweet meals. The taste of the caramel is different every time because of how it is made and cooked. The market has seen the introduction of tea-infused chocolate and java pop, two inventions utilizing caramel.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 3.45 Billion |
| CAGR | 5.9% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Function, Form, Application, And Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Growth Of Application Industries |
| Functional Diversity Of Caramel |
Market Competitive Landscape:
The experienced contenders in the caramel market are:
- Cargill, Inc.
- Alvin Caramel Colours
- Martin Braun KG
- Puratos Group
- Metarom
- Nestlé S.A.
- Ferrero SpA
- Sensient Technologies Corporation
- Goetze's Candy Company, Inc.
- Frito-Lay
- DDW The Color House
- Mars Inc.
- Kerry Group
- Sethness-Roquette Caramel Color
- Bakels Worldwide
Market U.S.P. Covered:
Market Drivers:
The primary factors affecting the growth of the liquid caramel industry are natural color innovations and alternative sources of natural colors. Furthermore, because of its durability and color, liquid caramel will become more and more significant in the food and beverage business. Beverage manufacturers frequently use liquid caramel colors to standardize the color of the finished beer. Beer manufacturers can utilize less expensive malt barley for producing beer because of the usage of caramel colors in the process. Global market patterns have been altered by changing lifestyles and a rise in quick-service restaurants and bars. How the products are packaged and displayed catches the attention of the final consumer.
Therefore, offering a clear label and presenting the products inventively have enhanced productivity. Globally, the food and beverage business is driven by rising per capita income and rising acceptance of urban lifestyles. This has been accomplished by shifting consumer eating patterns to favor frozen and ready-to-eat bakery goods over traditional slow-cooker goods. Over the projection period, it's expected that this trend in the food and beverage industry will increase demand for caramel ingredients. The beverage business sells alcoholic and non-alcoholic goods and shows notable growth.
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Market Restraints:
The primary barrier to the growth of the raw material market for caramel is the steadily rising cost of those materials, which drives up the cost of the finished product. A possible danger to future product demand is the movement in consumer eating habits toward healthier foods and a reduction in the usage of confectionery items in daily life. In recent years, introducing substitutes for caramel has posed a threat to the market. Growing worries about the negative effects of using caramel components as a coloring agent have significantly hindered the market during the past ten years. This has been made worse by a general shift in consumer food preferences toward healthier, low-carb, low-sugar options. This is making it difficult for many manufacturers.
COVID 19 Analysis
The COVID-19 epidemic and its different strains have significantly impacted a wide range of sectors. The end users were impacted by the scarce supply of raw materials and resources. The consumer food and beverage business experienced a significant demand during the beginning of this outbreak for wholesome foods, everyday necessities, and consumables with longer shelf life. For instance, in the early stages of the crisis, demand for frozen food items, eggs, vegetables and fruits, different grains, and wheat was at an all-time high.
Market Segmentation
By function, the market includes colors, toppings, flavors, fillings, and others. By application, the market includes beverages, dairy & frozen desserts, snacks, bakery & confectionery, and others. By form, the market includes solid & semi-solid and liquid.
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Regional Insights
The market is well-established in industrialized nations across North America and Europe, but there is notable room for expansion in developing nations in Asia-Pacific and South and Central America. The enormous influence of Western-style food patterns drives unrealized potential in nations like India, China, and Brazil, especially in the confectionery and bakery industry segments. With the highest consumption and production of caramel worldwide, Europe holds the largest market share. The Asia-Pacific region's developing countries have produced most of the region's earnings. Additionally, the number of retail establishments is largest in developing nations compared to other regions.
This has led to a diverse palate, creating a significant opportunity for market players to grow thanks to increased disposable income and changing lifestyles. During the forecast period, the market in the Asia Pacific is anticipated to develop at the highest CAGR. The caramel ingredient industry is expanding at the quickest rate in the Asia Pacific. Consumers in the Asia-Pacific area have been encouraged to try out bakery and confectionery items due to rising disposable incomes, which has fueled the region's expansion in the caramel ingredients market. The market is expanding due to the rising use of caramel components, the inflow of international players, and the emergence of domestic businesses. The Asia Pacific thus accounts for a sizable portion of the market.
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