Research Nester released a report titled “Bio-Based Food Ingredients Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the global bio-based food ingredients market in terms of market segmentation by product, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Bio-based food ingredients are derived from natural sources which are used to add a higher value of flavor as well as fragrance to the food. Bio-based products usually undergo physical, chemical, or biological treatment before their final use. The bio-based food ingredients market is anticipated to record a CAGR of around 5.93% over the forecast period, i.e., 2020-2027. The market is projected to attain a significantly high market value of USD 2,986.99 million by the end of 2027. The market is segmented on the basis of product, applications and region. Based on product, the market is further segmented into ethyl cellulose, N-butanol, butyl levulinate, butyl acetate, butyl isobutyrate and others, out of which, the N-butanol segment is anticipated to hold the largest share in the bio-based food ingredients market. Moreover, the segment for N-butanol is projected to grow at the highest rate with a CAGR of 6.40% over the forecast period as well. N-butanol is a chemical compound produced predominantly through fermentation and used as an ingredient in dairy products and confectioneries.
Based on region, the bio-based food ingredients market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The market in North America is anticipated to hold the leading share on account of rising awareness among consumers about the benefits of natural ingredients. On the other hand, the market in Asia Pacific is predicted to grow at the highest rate of about 7.01% over the forecast period. This can be attributed to the growing demand as well as increasing production of these ingredients in the region.
Growing Adoption of Natural Ingredients to Boost the Market Growth
Rising health and environmental concerns have led to a significant number of people across the world towards adopting and consuming organic and natural ingredients, resulting in the rise in demand for bio based food ingredients. This is anticipated to become a major growth factor over the forecast period. However, the lack of awareness about bio-based food ingredients and their advantages in developing and under-developed countries is estimated to hamper the market growth.
This report also provides the existing competitive scenario of some of the key players of the global bio-based food ingredients market which includes company profiling of Ashland, Dow, Colorcon, Prasol Chemicals Pvt. Ltd., Shandong Head Europe B.V., Shin Etsu, Eastman Chemical Company, Corbion N.V., Alfa Aesar and BASF. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global bio-based food ingredients market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.