Pune, India, June 12, 2019 (GLOBE NEWSWIRE) -- Caramel Market is poised to touch USD 2,940.9 Million by 2025 at an impressive 5.6% CAGR during the forecast period (2018-2023), reveals the latest report by Market Research Future (MRFR).
Market Analysis
A study conducted by Market Research Future (MRFR) reveals that the global caramel market is projected to strike a CAGR of 5.6% over the review period 2016 to 2025. According to the report, the market’s valuation is estimated to reach USD 2,940.9 Mn by 2025. The food & beverage industry is witnessing a boom owing to flavor innovation. Caramel is observed to play a crucial role in the development of innovative flavors. Thus, it is projected to exhibit an expansion of applications in the years to come.
The shifts in consumer preferences towards vegan substitutes of food are expected to boost the demand for caramel in the forthcoming years. Industry leaders are investing in the development of product portfolios by introducing innovative alternatives without compromising on taste. It is expected to aid the proliferation of the caramel market over the next couple of years. Case to the point is, NOMO, a chocolate brand has launched four varieties of vegan choc-bars including ‘Caramel and Sea Salt.’
Caramel is used in different forms across the food & beverage industry. Its functional diversity is projected to catapult the market on upward trajectory. On the flip side, the adverse effects of excessive caramel consumption are anticipated to check the expansion of the market during the projection period.
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Key Players and Industry Buzz
The prominent players operating in the Global Caramel Market are Kerry Group PLC (Ireland), Cargill, Incorporated (US), Nigay SAS (France), Barry Callebaut AG (Switzerland), Sethness Products Company (US), Puratos NV/SA (Belgium), Metarom Group (France), Göteborgsfood Budapest Ltd (Hungary), Bakels Worldwide (Switzerland), and Martin Braun Backmittel and Essences KG (Germany).
Popcornopolis, a famous brand for popcorns, has announced the launch of all-new limited-edition Americorn Popcorn, a vanilla flavored caramel popcorn.
Joe & Seph's, a popcorn company based out of the U.K., has ventured into the confectionary industry with the launch of Chocolate Popcorn Bites. This new range is made from double salted caramel popcorn and available in two variants.
Mars Wrigley Confectionery, the world's leading manufacturer of chocolate, has announced the launch of two new ice cream bars that would b featuring peanut butter and caramel mixed with dark chocolate.
Market Segmentation
This MRFR report covers an exhaustive segmental analysis of the global Caramel Market based on function, form, and application. By function, the market has been segmented into colors, toppings, flavors, fillings, others. Among these, the color segment has been projected to secure the pole position in the market place and reach a valuation of USD 913.3 Mn by 2025. An upsurge in demand for caramel as a color additive is expected in the upcoming years for use in alcoholic and non-alcoholic beverages. This, in turn, is likely to catalyze the expansion of the segment in the nearby future. Furthermore, the toppings segment is poised to exhibit considerable growth at a CAGR of 5.8% during the review period.
On the basis of form, the market has been bifurcated into solid & semi-solid, and liquid. The liquid segment held the dominant share of the market in 2017 and is anticipated to retain a significant share of the market in the forthcoming years. On the other hand, the solid & semi-solid segment is projected to exhibit a higher CAGR over the assessment period.
The caramel market, by application, has been segmented into bakery & confectionery, beverages, dairy & frozen desserts, snacks, and others. Among these, the bakery & confectionery segment accounted for a larger share of the market in 2017. It is poised to signify the strong potential for growth in the years to come. Meanwhile, the snacks segment is prognosticated to expand at a higher growth rate across the review period.
Browse the market data and Information spread across 120 pages with 109 data tables and 43 figures of the report “Caramel Market Report - Forecast 2018-2025” in-depth alongside table of content (TOC) at
https://www.marketresearchfuture.com/reports/caramel-market-1786
China Expected to Lead the Market in Asia Pacific
The geographical analysis of the global Caramel Market encompasses four regions – Asia Pacific, North America, Europe, and the Rest of the World (RoW). Among these, Asia Pacific accounted for a major share of the market in 2017 accounting for 34.07% share. It is projected to exhibit a comparatively higher CAGR of 5.9% across the forecast period. China is prognosticated to contribute significantly to the development of the caramel market in the region. North America is an important regional segment and is expected to signify strong growth potential in the foreseeable future.
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