Food inclusions market is fairly consolidated. This is mainly due to the wide product portfolio, loyal customer base and robust geographical reach of the key companies which provided them a competitive advantage over other players in the market. APAC and North America are the major regions for the food inclusions market and there is scope for potential growth in these regions due to high demand from the food processing industry. Food Inclusions market in APAC region is growing at a faster pace, especially in India and China mainly driven by the increasing penetration of retail chains and consumers’ preference towards packaged foods.
Beverages, bakery, confectionery and dairy industries have huge opportunities in APAC region. Beverages with inclusions such as chunks or smaller particles are extremely popular in Asia and the Middle East. These items can be cloudy and thick, smooth or with bigger particles. There is huge opportunity for domestic or international players, to come up with new variants at low cost. Asian and African regions are the most favoured regions as the market demand is estimated to be robust. There is moderate to high growth of food inclusions market in the Middle Eastern countries.
In emerging markets of Latin America, South East Asia and Eastern Europe, relatively buoyant income growth is resulting in evolving middle class, eager to experience new goods and services; which will drive the growth in frozen food industry. Dairy and frozen foods segment for food inclusions market is forecast to reach $2,663.6m by 2020 at a CAGR of 10.4% during the forecast period 2015-2020. Furthermore, the trend of on-the go consumption and consumers preference for novel bakery and chocolate bars propels the demand for innovative food inclusions in the emerging nations. Key global players in this market need to assess the local taste and texture preferences as well as the potential of various food inclusions and associated applications to channelize investments for better returns.