Caramel is a confectionery product obtained by heating sugar. It has a medium to dark orange color and is used as an agent for flavoring, topping coloring, decoration, and glazing in various food and beverage applications, such as bakery and confectionery, beverages, snacks, dairy, and frozen desserts, and pet food. The growth of the global caramel market is driven by the growing applications and the functional diversity of caramel. Caramel, as an ingredient, is widely used in bakery and confectionery, beverages, dairy and frozen desserts, convenience foods, pet food, snacks, and other applications.
The rise in the number of applications primarily fuels the growth of the global caramel market. An increase in demand for bakery and confectionery products, beverages, dairy products, frozen desserts, and pet food, boosts the consumption of caramel in the above-mentioned industries, adding to the market growth. However, the rising awareness regarding the ill-effects of excessive caramel consumption hampers market growth. The increase in demand for natural and organic products, especially in Europe and North America opens the avenues for the sale of natural ingredients such as caramel. Therefore, the rising demand for natural and organic products is an opportunity for the market players.
Regional Analysis:
The global caramel market is segmented into North America, Europe, Asia-Pacific, and RoW. Asia-Pacific is estimated to retain its dominance throughout the forecast period of 2018-2025. The region is estimated to reach USD 1,027.6 million by the end of 2025 with the highest CAGR of 5.9%. China is one of the leading markets in the region, accounting for the largest market share, during the review period. There is an increase in demand for various new and innovative food & beverage products due to urbanization and the rising per capita disposable income. In addition to that, manufacturers are investing in research and development to introduce innovative products for meeting the demand in the region.
Segments:
On the basis of function, the global caramel the market has been segmented into colors, toppings, fillings, flavors, and others. The colors segment held the largest revenue share of 31.25% in 2017. However, the toppings segment is projected to witness the highest CAGR of 5.8% during the review period.
On the basis of application, the global caramel market has been segmented into bakery & confectionery, beverages, dairy & frozen desserts, snacks, and others. The snacks segment is expected to register the highest CAGR of 6.0% during the forecast period 2018-2025.
On the basis of form, the global caramel market has been segmented into solid & semi-solid and liquid. The liquid segment held a larger revenue share in 2017.
Key Players:
Some of the leading market players in the global caramel market are 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), Goteborgsfood Budapest Ltd (Hungary), and Martin Braun Backmittel and Essences KG (Germany).
Target Audience:
Food & beverages manufacturers
Caramel manufacturers
Raw material suppliers
Retailers and wholesalers
E-commerce companies
Traders, importers, and exporters
Key Findings:
Among functions, the colors segment is expected to account for the major market proportion during the forecast period. However, the toppings segment is projected to exhibit the highest CAGR of 5.8% during the period.
Among applications, the bakery & the confectionery segment held the largest revenue share with 34.36% in 2017. However, the snacks segment is expected to register the highest CAGR of 6.0% during the forecast period.
Regional and Country Analysis of Caramel Market Development and Demand Forecast to 2025:
As per the MRFR analysis, the Asia-Pacific caramel market is estimated to reach USD 1,027.6 million by 2025 and register a CAGR of 5.9% during the forecast period 2018-2025.
The reports also cover country-level analysis:
North America
US
Canada
Mexico
Europe
Germany
Spain
France
UK
Russia
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
Australia & New Zealand
Rest of Asia-Pacific
Rest of the World
Middle East
South America
Africa
To Know More, Click On The Link Below:-
Global Caramel Industry Research Report
Related Report:-
Global Caramel Color Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024
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