North America Powder Caramel Market By Application (Confectionary Products, Bakery Products, Dairy Products, Beverages, And Others), By Function (Colours, Flavours, Toppings, And Fillings), And By Region - Industry Analysis, Size, Share, Growth, Trends, And Forecasts (2016–2021)
The North America Powder Caramel market size was around USD 650 million in 2016. It is expected to grow at a CAGR of 7.3% to reach USD 920 million by 2021.
It captures 35% of the global market.
Caramel is prepared by heating different types of sugars and offered in form of solid, liquid, granular and powdered form.
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Primary drivers for the growing demand of powdered caramel in North America market are its flavour and colorant eminence as these days food and beverage manufacturers are more conscious towards offering innovative products with different taste and colour.
However, consumers are also seeking for the food products which apart from fulfil their needs and demands in terms of taste but also have special blends food ingredient and unique flavour. Rising demand of products like chocolates, desserts, beverages, cakes, and several other confectionery products in North America level market are the major products which raise the demand of powdered caramel in food and beverage industry.
The prices of caramel ingredients have been rising tremendously in the last decade due to the steadily rising prices of ingredients used in caramel production. This raise in the prices of raw materials is anticipated to lead to a subsequent rise in the price of caramel ingredients, which in turn is likely to inhibit the market growth.
Powdered caramel market is segregated on two different basis viz.: by function and by application. By function, powdered caramel is segmented as flavours, colours, toppings and fillings.
In food and beverage industry the demand of powdered caramel has grown as it is used for enhancing the taste and flavour of recipes. Powdered caramel is added to colour the drinks like smoothies, beer, shakes, and wines and as also used as colorant in several other food products.
However, powdered caramel’s demand in North America market is rising due to flavouring and filling ingredient as it has wide applications in bakery and confectionery products namely biscuits, chocolates, cakes, cookies, and several other products. By application, the market is categorized by bakery products, dairy products, confectionery products, beverages and others (sauces, snacks and canned food).
Further the market is sub-segment on the basis of beverages into alcoholic and non-alcoholic beverages. Powdered caramel is mostly utilized in alcoholic beverages like beer, wines, and liqueurs and in non-alcoholic beverages it has application in carbonated drinks, tea, coffee, fruit drinks, smoothies, soft drinks etc.
Bakery and confectionery segment has majority of share in North America powdered caramel market.
By geography, the North America Powder Caramel market has been categorized into US and Canada. It is the largest market.
Major players in this market are: Alvin Caramel Colours (india) Private Ltd., San Soon Seng Food Industries sdn bhd., The John D. Walsh Company, Sethness Caramel Color, Sunspray Food Ingredients (Pty) Ltd, ASAHI GROUP FOODS, LTD.
Inc., Secna Group, Best Flavors, Inc., Fruitofood, TSUKUBA DAIRY PRODUCTS CO.,LTD.
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