New York, June 14, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Food Decorations and Inclusions Global Market Report 2023" - https://www.reportlinker.com/p06466585/?utm_source=GNW
, Dobla, HLR Praline, Icam SpA, Kanegrade Flavours & Ingredients Pvt Ltd., Nimbus Foods, Orkla ASA, PCB Creation, Pecan Deluxe Candy Company, Ulmer Schokoladen Gmbh & Co. KG, and Dr. Oetker.
The global food decorations and inclusions market is expected to grow from $7.97 billion in 2022 to $8.58 billion in 2023 at a compound annual growth rate (CAGR) of 7.68%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many every markets across the globe. The market is expected to reach $11.40 billion in 2027 at a CAGR of 7.36%.
The food decorations and inclusions market consists of sales of decorations and inclusions for products such as chocolates, cakes, desserts, patisseries, fruits, nuts, and others.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The decoration is a process of perfectly finishing cakes, desserts, patisserie, and others that make look attractive.It includes curls, shavings, tubes, sprinkle stars, fans, leaves, assortment boxes, and others that add value to products and create a maximum standout.
Inclusions are additives that are added to the final formulation for a more appealing, enjoyable, and high value to the product.
Europe was the largest region in the food decorations and inclusions market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the food decorations and inclusions market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main product types of food decorations and inclusions include chocolate decorations and inclusions, sugar decorations and inclusions, nuts, preserved/freeze dried fruits, sugar paste and icing, glazes, marzipan, and others.Chocolate decorations and inclusions refer to a process of finishing the products using chocolate to make them attractive and adding chocolate additives to the final formulation of the product for a more appealing, enjoyable, and high-value product.
The food decorations and inclusions products are used by various end users such as food and beverage processing, bakeries and pastry shops, confectionery shops, restaurants and hotels, household and others and are distributed through B2B and B2C channels.
The growing consumption of bakery products is expected to propel the growth of the food decoration and inclusions market going forward.The decorations and inclusions help to perfectly finish bakery products such as cakes, desserts, patisserie, and others that make look attractive.
The increase in consumption of bakery products is creating demand for food decoration and inclusions.The bakery products require decoration and inclusion to finish and add appealing, enjoyable, and high value to the bakery product.
For instance, in April 2023, according to the U.S. Bureau of Labor Statistics, a US-based fact-finding agency, bakery product consumption expenditure increased from $428 million in 2020 to $462 million in 2021. Therefore, the growing consumption of bakery products is driving the growth of the food decorations and inclusions market.
Product innovation is a key trend gaining popularity in the food decorations and inclusions market.Companies operating in the food decorations and inclusions market are developing and launching innovative products to sustain their position in the market.
For instance, in February 2022, The Supplant Company, a UK-based biotechnology company that manufactures natural food ingredients, launched premium inclusions made with Supplant™ sugars from fiber grows that bakes, cooks, and caramelizes like traditional sugar. The product made with Supplant™ sugar provides fewer calories than cane sugar, low glycemic response, and acts as a prebiotic.
In November 2022, Orkla ASA, a Norway-based bakery and ice cream ingredients company, acquired Denali Ingredients for a total of $200 million.The acquisition allowed Orkla ASA to strengthen its position as a leading ingredients supplier to the bakery, ice cream, and confectionery industries.
Denali Ingredients is a US-based company that develops and manufactures ingredients for ice creams.
The countries covered in the food decorations and inclusions market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The food decorations and inclusions market research report is one of a series of new reports that provides food decorations and inclusions market statistics, including food decorations and inclusions industry global market size, regional shares, competitors with a food decorations and inclusions market share, detailed food decorations and inclusions market segments, market trends and opportunities, and any further data you may need to thrive in the food decorations and inclusions industry. This food decorations and inclusions market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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