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Increasing Consolidation among Companies, Product Portfolio Expansion, and a Shift to Natural Ingredients are the Trends Observed in the Market
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This research service analyzes the global food ingredients market in terms of the top 20 companies active in the space; an outlook of the key trends that drive the market is also provided. The geographic scope of the study is global, which is classified into 4 regions, namely, North America, Europe, Asia-Pacific (APAC), and Rest of World (RoW). The product scope includes food ingredients as defined by the US FDA. The end-application scope of this study includes the following: human and animal nutrition products across end-application segments such as dietary supplements, food and beverage, infant nutrition, pharmaceuticals, pet food, and functional food. All revenue is estimated at the manufacturer level, and price is quoted in the US Dollar ($). Product units are in accordance with company specifications.With growing demand for functional ingredients in emerging markets such as APAC, the Middle East, and South America, leading companies are actively investing to expand their presence in these regions, and M&As and consolidations have been their major strategy, as observed in the industry over the past few years. The latest technologies focus on the development of new products, including health ingredients, which push the concept of 'food as a medicine'. Ingredients that cater to senior, infant, and maternal nutrition will also see high demand in future. In addition, salt replacers and natural sweeteners will be in high demand, largely due to the growing consumer awareness about the detrimental health effects of high salt- and sugar-based diets. The sourcing of new raw materials – which drive product innovation and replace conventional sugars and salts – has gathered pace.
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