Asia Pacific Caramel Ingredients Market has been estimated at USD xx billion in 2022 and is projected to reach USD xx billion by 2028, at a CAGR of xx% during the forecast period from 2023 to 2028. The Caramel Ingredients market is showcasing significant potential in the mentioned forecast period.
Caramel is a confectionery product made by heating various types of sugars. It is used as flavoring agent in puddings and desserts, as a topping in ice creams & Custards, and as filling in bonbons. There are various types of caramel ingredients like Colors, Flavors, Fillings, Toppings, Inclusions.
Some of the factors like increasing disposable income, increasing demand for frozen bakery products, busy lifestyle, increasing working women population, and rising adoption of caramel for confectionary products are driving the market. However, factors like increasing number of diabetes patients around the world, and rising number of aging population are acting as a barrier to the growth of the market.
The Asia Pacific market for Caramel Ingredients is categorized on the basis of livestock and type. The market segmentation based on type is done into Colors, Flavors, Fillings, Inclusions, Toppings, and Others. Market segmentation based on application is done into Beverages, Confectionary products, ice creams & desserts, other food applications. On the basis of form, market is segmented into Liquid caramel, Solid caramel, powder/granular caramel. Based on Beverages, Market is further segmented into Non-Alcoholic beverages, Alcoholic beverages. Toppings segment is expected to increase at highest CAGR due to the increasing trend of dining outside. Based on form, Powder/granular segment is expected to grow at highest CAGR owing to its longer shelf life and increased use of packaged food & beverages.
On the basis of geography, the Asia-Pacific market is analysed under various regions namely China, India, Australia, Japan and South Korea. The demand for caramel ingredients is expected to increase in Asia-Pacific region owing to the rising dispensable incomes and urbanization in countries like India, China and Japan.
Key Players in the Market:
Major key players in the Asia Pacific Caramel Ingredients Market are
Kerry Group, Cargill, Incorporated., Sensient Technologies Corporation, Puratos Group, and Sethness Caramel Color, DDW The Colour House, Nigay, Metarom, Martin Braun KG, Göteborgsfood Budapest ZRT, and Bakels Worldwide.
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