Caramel is produced when sugar is mixed with water and cooked. Caramel is a widely used confectionery product. Caramel consists of a unique sweet taste and appealing brown color. The process of formation of caramel is known as caramelization. Caramel is considered as one of the most popular flavors in the US market. Caramel can be consumed as an items such as candy, creams, nuts, cookies, marshmallows for the variety of confections and deserts. Through Mailard reaction caramel is produced when glucose and sucrose are being caramelized around 160°C. There are varieties of flavors available in caramel. Various flavored ice-creams and dairy products are being made using caramel. The taste of each unique caramel product is created during the cooking process and developed through reactions. There are some new innovative products such as tea infused chocolates, java pop coffee soda which is being launched in the market.
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Caramel based products can be segmented on the basis of application, type, and form. On the basis of type, the caramel is segmented into fillings, toppings, inclusions, colors, flavors and others (icings & coatings).
On the basis of application, global caramel market is segmented into bakery products, confectionery products, ice creams and deserts, beverages and others. Beverage segment is further classified into alcoholic beverage and nonalcoholic beverage. Others segment is further sub segmented into sauces, malted foods and breakfast cereals.
On the basis of form, the global caramel market is segmented into solid, liquid, granular & powder.
Market Regional Outlook:
Regional segment for the market of caramel is divided into five different regions: North America, Latin America, Europe, Asia Pacific and MEA. Among these segments, Europe is expected to have a major market share globally, as it is the largest producer and consumer of caramel. In Asia Pacific region the countries like India, China and Australia are generating major revenue. Moreover, the Asia Pacific region is estimated to account for the highest CAGR, owing to a large consumer base, combined with a higher number of retail outlets than any other region. The North America Market is expected to grow significantly during the forecast period, but is anticipated to account for a lower growth rate than the APEJ region, owing to greater number of emerging economies in Asia Pacific region.
Due to the rising trend of food decoration to drive the toppings segment with the caramel is considered as one of the important factors that is going to drive the market of global caramel market. Based on the food applications, due to the increase in demand of caramel usage for ice creams and deserts, the bakery segment is considered to be the one of the important factor which is going to increase the sales of global caramel market. Due to rising disposable incomes and urbanization in the emerging economies such as India, China, Australia and New Zealand, the demand for caramel market is expected to increase across these countries. Despite the positive outlook, there are certain factors which are hindering the growth of the global caramel market. The amount of sugar present in the caramel is the primary drawback of eating lots of caramel.
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Market Key Players:
Some of the key players in caramel Market are Goetze’s Candy Company Inc, Dallas Caramel Company, Warrellcorp, Caramel Limited and others.