Specialty Food Ingredients Market : Increasing Demand for Convenience Foods Drives the Market

The specialty food ingredients market value was USD 66,466.2 million in 2014 and is projected to reach USD 91,241.8 million by 2020 at a CAGR of 5.5%. R&D and technological innovations, uproar for convenience foods, nutrition and taste convergence, and growing end-user applications are some of the major drivers of the specialty food ingredients market.

The specialty food ingredients market was dominated by the key players such as Archer Daniel Midland (U.S.), Royal DSM N.V. (The Netherlands), Kerry Groups (Irelands), Cargill Inc. (U.S.), and E. I. DuPont de Nemours and Company (U.S.) with respect to their developments in the past few years. These companies accounted for more than 50% of overall developments in the specialty food ingredients market. Other players include companies such as Givaudan Flavors (Switzerland), Sensient Technologies (U.S.), CHR. Hansen (Denmark), Ingredion Incorporated (U.S.), and Tate & Lyle PLC (U.K.).

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The companies adopted various key strategies such as new product launches, expansions, acquisitions, partnerships & collaborations, among which the new product launches were implemented the most. The companies which are actively involved in the new product development and launches are Cargill Inc., Chr. Hansen, Dupont, Ingredion Inc., DSM, Sensient Technologies, and Tate & Lyle. In 2015, Chr. Hansen launched new cottage cheese culture, YoFlex Acidifix culture, and various other cultures to help the manufacturers to tap high protein trend in the starter cultures market. DSM launched customized Omega-3 solution for dietary supplements.

Cargill captures the topmost place in the specialty food ingredients market. It operates through its five business segments, such as food ingredients & applications, origination & processing, agriculture services, industrial and risk & financial management. The company offers specialty food ingredients, such as hydrocolloids, sugar substitutes, acidulants, functional food ingredients, emulsifiers, and specialty starches. It has its global presence covering North America, Latin America, Africa, Europe, and Asia-Pacific. Cargill adopted new product launch as its major strategy. In 2015, Cargill launched ‘EverSweet’ sweetener, instant starch, and IngreVita EPA/DHA omega-3 oil. Cargill acquired pectin operations of FMC (Italy) to expand its texturizing portfolio.

Royal DSM N.V. (The Netherlands) is primarily engaged in production of four division animal nutrition & health, food beverages & dietary supplements, flavours & fragrance, others (Energy, construction, Automotive, construction). The nutrition segment of the company comprises DSM Nutritional Products and DSM Food Specialties that offers various specialty food ingredients for the dairy and frozen food, bakery products, confectionery and condiments, meat, poultry, & seafood, beverages and oil & fats. The company operates globally through its subsidiaries such as DSM Nutritional Products Canada Inc. (Canada), DSM Desotech Inc. (U.S.), DSM Nutritional Products A/S (Denmark), DSM Nutritional Products AG (Switzerland), DSM Nutritional Products Asia-Pacific (Singapore), DSM Nutritional Products France (France), DSM Agro Deutschland GmbH (Germany), and others. In 2015, the company launched customized Omega-3 solution for dietary supplements and Tolerase G, an enzyme that effectively helps to digest residual gluten which helps to meet growing demand for gluten sensitive consumers. DSM acquired Aland (China), vitamin C producer. Due to this strategy DSM widen its vitamin portfolio and can cater emerging market for vitamins include China, India.