Report : North America Food Inclusions Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Chocolates, Fruit and Nuts, Flavored Sugar and Caramels, and Others), by Form (Solid and Semi- Solid), and Application (Dairy and Frozen Desserts, Bakery Products, Breakfast Cereals, Chocolate and Confectionery Products, and Others)
Chocolates Segment to Dominate North America Food Inclusions Market during 2020–2028
According to a new market research study on “North America Food Inclusions Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Form, and Application,” is expected to reach US$ 4,898.41 million by 2028 from US$ 3,345.79 million in 2021. The market is estimated to grow at a CAGR of 5.6% from 2021 to 2028. The report provides trends prevailing in the North America food inclusions market along with the drivers and restraints pertaining to the market growth. Broad scope of application, raising focus towards value addition to achieve product differentiation and flourishing demand for functional and healthy food products are the major factor driving the growth of the North America food inclusions market. However, Up-surging production costs of food products and beverages hinder the growth of North America food inclusions market.
The US has the highest number of confirmed cases of coronavirus, as, compared to Canada and Mexico. This has negatively affected the food & beverages industry in the region as the COVID-19 outbreak has negatively affected the supply and distribution chain. The unavailability of raw materials due to lockdown in many raw material supplying countries has halted the production. The food inclusionss market has had a major impact on its product trends. The pandemic has propelled consumers to opt for healthy food products with various functional properties. Additionally, to break through the regular routine imposed due to the lockdown, the consumer’s desire for new and innovative products to experience different culinary adventure is also influencing the market trends for food inclusionss. Fruits and nuts are expected to witness an increasing demand during the upcoming years owing to the health benefits offered by them. Travel restrictions are influencing the flavor trends in food. Thus, though the COVID-19 pandemic has had a negative impact on the production and supply of food inclusionss, it has positively influenced the product trends in the market.
The food inclusions market is segmented based on type, form, application, and country. In 2020, the chocolate segment held the largest share in the market and fruit and nuts is expected to be the fastest growing during the forecast period. Based on form the market is segmented into solid and semi-solid. In 2020, the solid segment held the largest market share and it is also expected to the fastest growing segment over the forecast period. On the basis of application the market is segmented into dairy and frozen desserts, bakery products, breakfast cereals, chocolate and confectionery products, and others. In 2020, the bakery products segment accounts for largest market share and breakfast cereals segment is expected to be the fastest growing during the forecast period. Similarly, Based on country the market is segmented into the US, Canada, and Mexico. In 2020, the US held the largest share in the market and Mexico is expected to be the fastest growing during the forecast period.
ADM; AGRANA Beteiligungs-AG; Puratos; Barry Callebaut; Cargill, Incorporated; Kerry Group;Georgia Nut Company; Taura Natural Ingredients Ltd.; and Sensient Technologies are among the leading companies in the North America food inclusions market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, Puratos had launched Smoobees, a breakthrough creation set grasping the latest consumer trend – texture is the new taste. These smoobees comes in three different flavors blueberry, caramel and lemon. With the launch of smoobees, the company strikes the perfect balance between innovative texture and classic taste.
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