The specialty
food ingredient market size is estimated to be valued at USD 134.7
billion in 2020 and projected to reach USD 178.3 billion by 2025, recording a
CAGR of 5.8% during the forecast period. This report defines and segments the
specialty food ingredients market with analyses and projections of the market
size, in terms of value. The market has been segmented on the basis of types,
applications and regions. The report also identifies the driving and restraining
factors of the global market with an analysis of trends, opportunities, and
challenges. The market is segmented and the market size is projected on the
basis of key regions such as North America, Europe, Asia-Pacific, and Rest of
the World (RoW).
Market Dynamics:
Drivers
•
R&D and technological innovations
•
Uproar for convenience foods
•
Nutrition and taste convergence
•
Growing end-user applications
Restraints
•
Raw material availability and infrastructural & technological barriers
•
Vulnerability to seasonal changes
•
Poor supply chain
Opportunities
•
Opportunities in the emerging markets
Challenges
•
Food safety concerns and regulations
•
Consumer’s perception of E numbers
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The stricter legislatives and regulations with respect to food
safety and shelf-life, implied that processing industries are keen on getting
the right formulation to present the best food product to the consumer, and
specialty food ingredients play a pivotal role in this aspect. The main driving
forces for the growing market are the advanced technology, nutrition and taste
convergence, rise in convenience food sector and growing end users
applications.
Report Scope
By Ingredients
•
Functional food ingredients
•
Sugar substitutes
•
Flavors
•
Specialty starches
•
Acidulants
•
Emulsifiers
•
Preservatives
•
Colors
•
Enzymes
•
F&B Starter cultures
By Application
•
Bakery and confectionery
•
Beverages
•
Dairy and frozen foods
•
Convenience foods
•
Meat products
•
Functional foods/beverages/dietary supplements
•
Oils and fats
•
Others*
*Others include savory snacks, sauces, dressings, and condiment.
By Region:
•
North America
•
Europe
•
Asia Pacific
•
RoW
North America dominate global specialty food ingredients market
followed by Asia-Pacific region. The Asia-Pacific food and beverage sector is
greatly influenced by the consumer preference for healthy food which is a major
driver for functional food ingredients. The implementation of R&D and
technological innovations and collaborations with such companies has been
moving at a high pace resulting in the new product launches, expansions to
emerging countries and partnerhsips. With economies showing positive signs of
recovery, on-going industrialization, increasing demand for processed foods,
and a greater preference on the part of consumers for quality products,
ingredient suppliers are becoming optimistic about the future of the market.
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Target Audience
•
Manufacturers/suppliers
•
Research & development laboratories
•
Regulatory bodies
•
Intermediary suppliers
•
End users
The major market players responsible for the growth in specialty
food ingredients market are Archer Daniel Midland (U.S.), Royal DSM N.V. (The
Netherlands), Kerry Groups (Irelands), Cargill Inc. (U.S.), E. I. DuPont de
Nemours and Company (U.S.), Givaudan Flavors (Switzerland), Sensient
Technologies (U.S.), CHR. Hansen (Denmark), Ingredion Incorporated (U.S.), and
Tate & Lyle PLC (U.K.).
