It is crucial for the food & beverages industry players to differentiate their products from products offered by other players, along with adding value to their existing product line, to sustain market competition. Food & beverage manufacturers identify food inclusions as time-saving and economical way of bringing innovations in their existing products, as while using these ingredients they can skip the step of formulating an entirely new product recipe. Food inclusions are used as mix-ins in the existing product recipe to achieve an altered texture, color, aroma, or flavor. Food inclusions are widely being used in baked food, ice cream, yogurts, and others for attaining product differentiation. Seasonal variants or limited-edition food products are being launched to attract a wider customer base. Food manufacturers use stand out colors, shaped inclusions, and indulgent inclusions in their products during Halloween and Easter to achieve product differentiation and stand out differently in the market. Thus, food inclusions are widely being used to add value and differentiate products from competitors, which is catalyzing the market growth.
VALUE ADDITION TO ACHIEVE PRODUCT DIFFERENTIATION TO BOOST THE DEMAND FOR FOOD INCLUSIONS MARKET GLOBALLY
Europe held the largest revenue share of the global food inclusions market. The presence of large-scale manufacturing plants and huge domestic consumption of food inclusions, has driven the growth of the food inclusions market in Europe. Moreover, the prime focus of food and beverage manufacturers on product innovation through the use of novel ingredients to cater to changing taste habits of customers, has also aided the demand growth of food inclusions. Furthermore, products such as fruits and nuts are becoming increasingly popular as they add a vibrant texture, color, appearance, increased flavor, and organoleptic properties. Nuts have huge demand in baking and confectionery products.
The companies in this market have been continuously focusing on the development of high quality and innovative product offerings to fulfil the customer’s requirements.
Some of the major key players operating in the global food inclusions market includes ADM; AGRANA BETEILIGUNGS-AG; Barry Callebaut; Cargill, Incorporated; Georgia Nut Company; Kerry Group PLC; Puratos; Sensient Technologies; Taura Natural Ingredients LTD; and Meadow Foods. The major players in the food inclusions market are focusing on strategies such as mergers and acquisitions and research and development to increase the geographical presence and consumer base globally.
