Food Inclusions Market - Forecasts from 2024 to 2029

Food Inclusions Market - Forecasts from 2024 to 2029

The food inclusions market is evaluated at US$14.631 billion for the year 2022 growing at a CAGR of 6.14% reaching the market size of US$22.201 billion by the year 2029.

The ever-changing library of ingredients is involved in the creation of the next generation of inclusions that are capable of delivering health, taste, and labelling claims. Changing dietary conditions serve as one of the factors driving the global food inclusion market growth in the forecast period. Inclusions add nutritional benefits to food items like ice creams, bars, bread, cakes, and many more. Growing preference towards clean and clear labelling by the end consumers, which involves only ingredients favouring flavour and texture and avoiding unnecessary ingredients, will emanate market growth in the coming years.

MARKET DRIVERS:

Increasing use in the food and beverage industry

The food and beverage industry has been experiencing many innovations as customer taste profiles are changing with time. Consumers have shown a willingness to try new and appealing products with flavour variety and other attributes, due to which the food and beverage manufacturers are developing products with unique flavours. For instance, raspberries, strawberries, and cherries are some of the usual fruits utilized by chocolate manufacturers, but now chocolate manufacturers are also using peaches in their products. Similarly, hazelnuts, peanuts, and almonds are leaders when it comes to nuts but now manufacturers are also using pistachio, sunflower, and flax seeds as well in their products. Further, herbs and spices, like chocolate infused with ginger, cinnamon, and chilli, are also gaining importance due to their health benefits. Consequently, a large portion of food and beverage manufacturers are now becoming increasingly consumer-centric, their product development and innovation programs are now largely aligned with consumer demands, providing food inclusion manufacturers with lucrative opportunities for the development of new products.

MARKET OPPORTUNITIES:

In recent times, the inclination towards convenience food has increased significantly due to the changing dynamics of the general population, such as growing disposable income, rising population, growing urbanization, and the rise in the percentage of working women. According to the Harvard Business Review, women's participation has nearly doubled in the last few years in the United States, which has increased the demand for convenience food even in developed nations, thus supporting the food inclusion market growth. This trend is thus expected to be mirrored in developing economies as well.

The Asia Pacific food inclusions market is anticipated to grow significantly.

The Asia Pacific food inclusion market is projected to be driven by the expanding food processing sector and rising per capita income. The market expansion in the region is anticipated to be fueled by the rise in disposable income and the adoption of healthy alternatives to high-calorie foods. According to statistics by the Chinese government, the average per capita disposable income in China showed an increase of 9.1% in 2021 as compared to 2020. The trend for healthy processed food is expected to increase due to the growing employed population and inadequate physical activity brought on by busy lifestyles in nations like China and Japan. Europe remains one of the most eminent markets for food inclusion companies due to its size. The European food inclusion market is led by countries like Germany, Italy, the UK, and France. Owing to the rise in the adoption of healthier lifestyles by consumers in this region, the increasing use of clean-level flavoured and natural food products in diet foods has impacted the market growth in this country.

Key Developments:

In October 2023, Tetra Pak announced the launch of cutting-edge postbiotic food products in partnership with AB Biotek Human Nutrition & Health. In the mixing stage of Ultra High Temperature (UHT) goods, such as drinks, dairy, ice cream, and cheese, postbiotics can be easily included as a powder.

Segmentation:

By Product Type
Fruit and Nuts
Biscuits
Chocolate
Flavoured sugar and caramel
Others
By Application
Frozen desserts
Confectionary products
Snacks and bars
Cereal products
By Geography
North America
United States
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
UK
Germany
France
Italy
Spain
Others
Middle East and Africa (MEA)
Saudi Arabia
UAE
Israel
Others
Asia Pacific
Japan
China
India
Australia
South Korea
Indonesia
Thailand
Taiwan
Others