The Specialty
Food Ingredients Market size is estimated to be valued at USD 134.7
billion in 2020 and is projected to reach USD 178.3 billion by 2025, recording
a CAGR of 5.8%, in terms of value. There is an increase in the demand of
processed food and clean label which is driving the market.
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Based on type, the specialty food ingredient market is
dominated by the food & beverage segment. The consumer trends such as
easy-to-use, health & wellness, and clean label trends influence the
overall market. The easy-to-use trend is due to the rapid urbanization in
emergent markets. Consumers demand healthier ingredients in their food
products. The growing obesity and diabetes incidences compel the consumers in
emerging and developed economies to focus on an improved lifestyle.
The European region/ North American dominates the specialty
food ingredients market with the largest share in 2019, whereas the Asia
Pacific is expected to witness the highest growth rate.
In North America, the US dominated the specialty food
ingredient market due to the high production and demand for clean label food
& beverages. The global specialty food ingredients market is primarily
driven by the rising demand for safe and plant-based products. The specialty
food ingredients industry functions with legislators and regulators to deliver
qualitative products to its end users. In the major markets.
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The increase in the developed economy and per capita income
has enabled the consumers to invest in more health and health-related services,
in the Asia Pacific region. This is one of the major drivers for specialty food
ingredients in the region. Apart from that, the millennial consumers are more
health-conscious and open to experimenting with various ingredients, this is
also thriving the market in the Asia Pacific.
Leading companies are Cargill (US), ADM (US), DuPont (US),
Ingredion (US), Kerry (Ireland), DSM (Netherlands), Chr. Hansen (Denmark),
Sensient (US), Tate & Lyle (UK), Givaudan (Switzerland), Biocatalysts (UK),
Omega Protein (US) Enzyme Supplies (UK), FDL Ltd (UK), Nutriati (US), Crespel
& Dieters (Germany), Axiom Food (US), Amano Enzymes (Japan), Amicogen
(South Korea), and Aminola (Netherlands).
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