The Asia Pacific Powder Caramel Market size was around USD 530 million in 2022. It is expected to grow at a CAGR of 8.5% to reach USD 800 million by 2028.
Caramel is prepared by heating different types of sugars and is offered in various forms such as solid, liquid, granular and powdered form.
Primary drivers for the growth of the powdered caramel market are its flavour and colorant eminence, as these days food and beverage manufacturers are more conscious towards offering innovative products with different taste and colour. Rising demand for products like chocolates, desserts, beverages, cakes, and several other confectionery products are increasing the demand for powdered caramel in food and beverage industry.
The prices of caramel ingredients have been rising tremendously in the last decade due to the steadily rising prices of ingredients used in caramel production. This raise in the prices of raw materials is anticipated to lead to a subsequent rise in the price of caramel ingredients, which in turn is likely to inhibit the market growth.
Asia Pacific Powder Caramel Market Segmentation Analysis:
Powdered caramel market is segregated on two different basis viz.: by function and by application. By function, powdered caramel is segmented as flavours, colours, toppings and fillings. In food and beverage industry the demand of powdered caramel has grown as it is used for enhancing the taste and flavour of recipes. Powdered caramel is added to colour the drinks like smoothies, beer, shakes, and wines and as also used as colorant in several other food products. However, powdered caramel’s demand in Asia Pacific market is rising due to flavouring and filling ingredient as it has wide applications in bakery and confectionery products namely biscuits, chocolates, cakes, cookies, and several other products. By application, the market is categorized by bakery products, dairy products, confectionery products, beverages and others (sauces, snacks and canned food). Further the market is sub-segment on the basis of beverages into alcoholic and non-alcoholic beverages. Powdered caramel is mostly utilized in alcoholic beverages like beer, wines, and liqueurs and in non-alcoholic beverages it has application in carbonated drinks, tea, coffee, fruit drinks, smoothies, soft drinks etc. Bakery and confectionery segment has majority of share in Asia Pacific powdered caramel market.
By geography, the Asia Pacific Powder Caramel market has been categorized into India, China, Korea, Japan and others. The Asia-Pacific region is estimated to be the fastest-growing market during the aforementioned forecast period, with investments from major players in the emerging market, due to countries’ low-cost labour and lower raw material prices.
Key Players in the Market:
Major Key Players in the Asia Pacific Powder Caramel Market are
Major players in this market are: Alvin Caramel Colours (india) Private Ltd., San Soon Seng Food Industries sdn bhd., The John D. Walsh Company, Sethness Caramel Color, Sunspray Food Ingredients (Pty) Ltd, ASAHI GROUP FOODS, LTD. Inc., Secna Group, Best Flavors, Inc., Fruitofood, TSUKUBA DAIRY PRODUCTS CO.,LTD.
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