Global Food Processing Ingredients Market: Key Highlights
Global Food Processing Ingredients Market: Key Market Dynamics
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Global Food Processing Ingredients Market: Regional Overview
Europe is anticipated to have sustainable growth in the food processing ingredients market during the forecasted period. This is attributed to the increasing demand for food and beverage manufacturers. Food & beverage is one of the largest manufacturing sectors in the European Union. According to FoodDrinkEurope, the turnover of the food & beverage industry was USD 1395.8 in 2019. Additionally, the European Union holds 19% share of global exports. Moreover, standards of living and mounting urbanization, the mounting need for a wide range of food products and increasing requirement for bakery products, fast food products, meat, confectionery products, and beverages have propelled the in the region.
The Asia-Pacific is expected to dominate the growth in food processing ingredients market during the forecasted period owing to increasing demand for enhanced food quality and transformed consumer perception. Additionally, rapidly changing lifestyle, large population base, and mounting disposable income are also creating a positive impact on the food & beverage industry in the Asia-Pacific region.
Global Food Processing Ingredients Market: Key Players Overview
Cargill, Incorporated, is engaged in providing a wide range of products for food, agriculture, financial and industrial. The company operated through five business segments including food ingredients & bio-industrial, animal nutrition, protein & salt, agriculture supply chain, and metal & shipping. In March 2018, Cargill, Inc. launched a new sweetener EverSweet, in partnership with Evolva which is a pharmaceutical company based in Switzerland. The product is particularly applicable for the low and zero-calorie beverages thus expanding the food processing ingredients market growth.
ADM is engaged in providing nutrient product and services. The company is associated with more than 200 trade organization which helps extend its geographical presence. ADM offers its products for food & beverage, animal nutrition, industrial, and fuel. In July 2018, ADM and Russia-based Aston Foods and Food Ingredients have received all regulatory approvals and launched their 50-50 joint venture to provide sweeteners and starches to customers in Russia.
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