As the popularity of coffee and cocoa is on the rise, the bean ingredients market is expected to witness an upward growth in the coming years. Addition of bean ingredients makes the confectionery products more palatable. A steady growth trajectory of the confectionery industry is likely to drive the bean ingredients market during the forecast period.
Increasing demand for the coffee-based products including coffee-based bean ingredients is likely to bode well for the bean ingredients market. Further, demand for cocoa-based bean ingredients is growing exponentially with the growing appetite for cocoa flavor. In addition, cocoa-based bean ingredients are the essential ingredients in the chocolates. Rising global popularity of chocolates and a persistent introduction of novel chocolate products are, in turn, expected to propel the coca-based bean ingredients market.
Consumption of coffee beans for their health benefits is popular for many decades. Studies have explored the functional benefits of green coffee beans and the bean ingredients market has introduced green coffee beans as functional food ingredients. Further, following the ‘natural product’ trend, manufacturers in the bean ingredients market have introduced natural raw coffee bean ingredients for caffeinated beverages and energy drinks. Bean ingredients market is expected to witness a steady demand in the functional ingredients sector in the coming years.
Global Bean Ingredients Market: Overview
Beans ingredients are the perfect eco-friendly and economical source of protein. It is the delicious health food which contains low fat and high iron, fiber, and folic acid. Bean Ingredients provide various nutrients critical to overall health such as potassium, calcium, magnesium, antioxidants, and folate. Bean Ingredients are used in various applications including production of coffee flour, chocolate production, and various organic food productions. Many manufacturers offer gluten free, allergen free, organic and conventional bean ingredients which are beneficial for health. The one of the major application of bean ingredients is in coffee manufacturing industry whereas the production of coffee beans are mainly in Asia Pacific, Latin America, and EMEA regions.
Global Bean Ingredients Market: Market Dynamics
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The key factors which drive primarily the growth of the global bean ingredients market are significantly increasing demand for the coffee products along with growing health consciousness among consumers across the globe. The macroeconomic factors which drive the bean ingredients market are rapidly increasing population globally along with emerging countries such as China, Brazil, and India. Rapidly growing the demand for cocoa beans globally leads the beans ingredients market towards high growth over the forecast period. The technological advancements in bean ingredients products such as allergen free, gluten free and producing eco-friendly products drive the global bean ingredients market over the forecast period. Increase in mergers & acquisitions among key manufacturers & suppliers coupled with high innovation in packaged bean ingredient products are the major factors that help to grow the bean ingredients market with a significant growth rate over the forecast period. The key restraint factor such as high export & import cost in North America and Japan due to low production of bean ingredients hinders the global bean ingredients market to grow over the forecast period.
Global Bean Ingredients Market: Market Segmentation
Global bean ingredients market can be segmented by product type, end-use and distribution channel type and region type.
Based on the product type, global bean ingredients market is classified into followings: Allergen Free Gluten Free Organic Conventional
Based on the end-use type, global bean ingredients market is classified into followings: Coffee-based products Cocoa-based products Residential/Commercial Purpose Processed food production
Based on the distribution channel type, global bean ingredients market is classified into followings: Wholesaler/Distributor Modern Trade Convenience Stores Online Sales Other Sales Channel
Global Bean Ingredients Market: Regional Outlook
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Based on geographies, the global bean ingredients market is classified into seven regions such as North America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Latin America, Japan and the Middle East and Africa. Among above-mentioned regions, North America accounts high market share in the global bean ingredients market over the forecast period, attributed to the high demand for coffee in corporate offices across the region. Western Europe is estimated to account second highest market share due to high consumption of chocolate based products across Germany, U.K., Switzerland and other major countries across the region over the forecast period. The Asia Pacific excluding Japan is anticipated to showcase a significantly high growth rate in the global bean ingredients market over the forecast period, owing to significant growth in consumption along with rapidly producing bean ingredients in China, India, and Vietnam, etc. across the region. Latin America is predicted to see extensive growth in the global bean ingredients market due to the significantly low price of coffee bean ingredients across the region. Japan is predicted to see a high CAGR in the global bean ingredients market over the forecast period, attribute to high usage of bean ingredients for residential and commercial purposes across the country.
Global bean ingredients market: Key players
Few key players of the global bean ingredients market are Cargill, Incorporated., Olam International, Archer Daniels Midland Company, MARA GLOBAL FOODS, Faribault Foods, Inc., Globeways Canada, Inc, The Organic Collective Limited, BETTER BEAN COMPANY, Inland Empire Foods, Vermont Bean Crafters and other key bean ingredients market players. Key Manufacturers are focusing on innovation in products to account high market share. For Instances, Olam International, ADM Company, and other producers bring Allergen-free, Gluten-free and organic bean ingredients across the globe.
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Regional analysis includes: North America (U.S., Canada) Latin America (Mexico. Brazil) Western Europe (Germany, Italy, France, U.K, Spain) Eastern Europe (Poland, Russia) Asia Pacific (China, India, ASEAN, Australia & New Zealand) Japan Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
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