Global Vegan caramel market 2021 Size, Growth Analysis Report, Forecast to 2027
Global Caramel Ingredient Market is segmented by Type (Powder and Liquid/Syrup), Application (Bakery, Confectionery, Beverages, Dairy and Frozen Desserts, and Other Applications), and Geography.
The Global Caramel Market is Estimated to be valued at USD 2,940.9 Million by 2025 and is Expected to Register a CAGR of 5.6% During the Forecast Period.
The colors segment dominated the global caramel market, by function, in 2017 and is projected to register a CAGR of 5.5% during the forecast period. The dominance of the segment can be attributed to the widespread consumption of caramel as a color ingredient in several non-alcoholic and alcoholic beverages, bakery products, confectioneries, frozen desserts, and sauces, among others. Caramel color is used globally in almost all food products; however, there are certain regulations imposed on the amount of caramel that can be used in food, which vary from country to country.
Asia-Pacific dominated the market, accounting for the largest revenue share in 2017. The regional market is expected to register the highest CAGR of 5.9% during the review period. North America was the second-largest market in 2017 owing to the growth of the food & beverage industry in the region.
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Market Research Future (MRFR) recognizes Cargill, Incorporated (US), Kerry Group PLC (Ireland), Bakels Worldwide (Switzerland), Barry Callebaut AG (Switzerland), Nigay SAS (France), Sethness Products Company (US), Metarom Group (France), Puratos NV/SA (Belgium), Göteborgsfood Budapest Ltd (Hungary) and Martin Braun Backmittel and Essences KG (Germany) as the key players in the global caramel market.
Caramel-based products are segmented based on form, type, application, and region.
Based on type, the caramel is segmented into Color, Topping, Flavor, Fillings, and Others as icons and coatings.
Based on application, the global caramel market is segmented into confectionery products, beverages, and mainly into bakery products. Beverages are further segmented into alcoholic and nonalcoholic beverages. The other applications are further segmented into malted foods, breakfast cereals, and sauces. The application segment is providing the maximum shares to the global Caramel Market.
Based on form, the caramelization process is done by solid, liquid, granular, and powder forms.
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Geographically, the global caramel market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. As per MRFR analysis, Asia-Pacific was the largest market for caramel in 2017 and is expected to remain dominant during the forecast period. North America accounted for a prominent market share and is projected to be the second-largest market during the forecast period. Europe also emerged as a significant contributor to the global market growth owing to lucrative opportunities in major European markets such as Germany, France, the UK, and the Netherlands.
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