Global Caramel Market 2021 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Caramel Market 2021 (Includes Business Impact of COVID-19)
Global Caramel Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2030 is a recent report generated by Trusted Business Insights. The global caramel market report has been segmented on the basis of form, function, application, and region.
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The global Caramel market size was valued at USD $2204.65 billion in 2020 and is projected to reach $3801.71 billion by 2030, and is anticipated to expand at a CAGR of 5.60% over the forecast period from 2020 to 2030.


Global Caramel Market: Overview


Caramel is a type of candy or sweet substance which is obtained through heating the sugar up to 160 °C. While sugar is heated up to this point slowly, the molecules get braked down and formulate new compounds which comprise appealing brown color and unique sweet taste. This process is called caramelization and can be accomplished by using various types of sugar.


Global Caramel Market: Dynamics


Rapidly growing food and beverages sector across the globe is one of the major factor driving growth of the global market. In addition, the growing consumption of flavored candies and confectionery items among the young population, especially kids are some factors projected to support the revenue growth of the target market. Moreover, growing urbanization, changing buying patterns of the consumers regarding food items, along with increasing disposable income are some of the major factors expected to propel the target market growth. Also, increasing R&D activities related to product development including java pop coffee soda and tea-infused chocolates is a factor anticipated to augment growth of the global market.

However, the volatile raw material price is a factor expected to hamper growth of the target market to a certain extent. In addition, health issues associated with overconsumption of caramel and caramel-based products such as dental problems, increase in fat, and other issues is another factor anticipated to limit growth of the global market.


Global Caramel Market: Segmental Analysis


Increasing demand for the caramel for adding the sweetened taste to candies is expected to support growth of the filling segment among the function segments.

Among the form segments, the solid & semi-solid segment is projected to accounts major share in terms of revenue in the target market.

Growing consumption of confectionery products such as candies, toffees, bakery, and cereals, and savory snacks is anticipated to propel growth of the bakery and confectionery segment among the application segments.


Global Caramel Market: Regional Analysis


The market in the Asia Pacific is expected to dominate the global caramel market. This is attributed to changing food consumption patterns of the consumer and the rising popularity of confectionery and bakery products. Moreover, the growing demand for innovative and organic caramel ingredients such as organic caramel syrup, organic salted caramel, and organic caramel sauce are projected to augment the target market growth during the forecast period.

Europe caramel market is projected to account for significant revenue shares in the global market. Various countries such as Germany, Netherlands, the UK are likely to become a major regional market owing to well-established food and beverages sector. the

Caramel market in North America is anticipated to register significant growth, owing to the increasing popularity of the caramel. Moreover, manufacturers of frozen desserts, confectionery products, and beverages are adopting the caramel as a natural sweetener and flavor, which in turns, rising growth of the target market.

Global Caramel Market Segmentation:

Segmentation by Function:

  
Colors
  
Toppings
  
Fillings
  
Flavors
  
Others (Icing and Coating)

Segmentation by Form:

  
Solid & Semi-Solid
  
Liquid

Segmentation by Application:

  
Bakery & Confectionery
  
Beverages
  
Dairy & Frozen Desserts
  
Snacks
  
Others (Malted food, breakfast cereals, sauces, etc.)


Key Market Players included in the report:


  
Alvin Caramel Colours
  
Bakels Worldwide
  
Barry Callebaut AG,
  
Cargill
  
DDW The Color House
  
Ferrero SpA
  
Frito-Lay
  
Goetzes Candy Company
  
Kerry Group
  
Mars Inc.
  
Martin Braun KG
  
Metarom Group
  
NestlE S.A.
  
Nigay SAS
  
Puratos Group
  
Sensient Technologies Corporation
  
Sethness-Roquette Caramel Color


Below are the key development related to Caramel Market in 2020 and 2021.


September 2020: Nomo unveils vegan Caramel Filled Choc Bar. Kinnerton’s free-from chocolate brand Nomo is launching a vegan Caramel Filled Choc Bar in the UK. Nomo’s latest offering is made with a non-dairy alternative to milk chocolate and features a vegan caramel-flavoured centre. Free from dairy, gluten, egg and nuts, the bar is said to be made from sustainably sourced ingredients. Source

January 2020: NestlE to release caramel-flavoured KitKat Gold in the UK. NestlE is launching a new caramel-flavoured chocolate bar to its KitKat range in the UK called KitKat Gold, following the success of the product in the Australian market. According to NestlE, KitKat Gold combines KitKat’s trademark crispy wafer with a smooth milk chocolate base and a creamy white chocolate topping, while the bar also features sweet caramel notes. KitKat Gold was released permanently in Australia following a limited-edition launch in 2018, as consumer reception to the product was extremely positive. Source