Global Specialty Food Ingredients Market – Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2017 and Forecast 2018-2024
Global Specialty Food Ingredients Market: By Type (Sweeteners, Nutritional Food Ingredients, Emulsifiers/ Stabilizer’s, Food Preservatives, Acidulants, Colours, Enzymes, Flavours, and Nutraceutical Ingredients), By Application (Bakery and Confectioner, Beverage, Meat Products Dairy, Snacks, and Others), and Geography – Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2017 and Forecast 2018-2024
Global specialty food ingredients market was valued around USD 70.0 Bn and expected to grow at XX% Compound Annual Growth Rate (CAGR) over the 2017 to 2023
Market Outline: Specialty Food Ingredients Market
The food and beverage industry uses specialty food ingredients in order to enhance the taste and flavor to the processed food. Owing to the demand for convenience food along with changing lifestyles specialty food ingredients are able to meet customer’s need. These specialty food ingredients preserve the texture, enhance color, and add benefits in processing. Manufacturers are also providing many dietary and health supplements using nutraceutical ingredients in the form of a pill, powder, or capsule. Nutraceuticals provide Nutraceuticals extra health benefits and basic nutritional needs through supplements and functional food ingredients
Market Dynamics: Specialty Food Ingredients Market
Increase in consumer preference for processed food and convenience food items are driving the specialty food ingredients market. The enhanced self-life, texture and stability of specialty food ingredients are also helps in driving the growth of the market. The increasing urbanization, rising purchasing power, and latest technologies enhance the specialty ingredients resulting in the form encapsulation technologies such as spray drying, chilling, fluidized bed coating, nano-encapsulation, bio-encapsulation, micelles, ribosomes, and many others which is acting as the driving factor in the specialty food ingredients market. Some of the special features such as packaging of gases & preservatives also help in reducing wastage of food which is adding further advantage for emerging the growth of the specialty food ingredients market. However, the stricter legislatives and regulations with respect to food safety and shelf-life are the major factors hampering the growth of the specialty food ingredients market.
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Market Scope: Specialty Food Ingredients Market
Specialty food ingredients market is segmented based on the type, application.
Based on the type, the market is segmented into the following:
- Sweeteners
- High Intensity Sweeteners
- High Fructose Syrup
- Low Intensity Sweeteners
- Nutritional Food ingredients
- Minerals
- Vitamins
- Prebiotics
- Others
- Emulsifiers/ Stabilizer’s
- Sorbitan Esters
- Stearoyl Lactylates
- Lecithin
- Food Preservatives
- Natural Preservatives
- Synthetic Preservatives
- Acidulants
- Enzymes
- Colours
- Caramel
- Carotenoids
- Anthocyanins
- Flavours
- Aroma Chemicals
- Natural Extracts
- Essential Oils
- Nutraceutical ingredients
Based on the application, the market is segmented into the following:
- Bakery and confectionery
- Beverage
- Meat Products Dairy
- Snacks
- Salty Snacks
- Others
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Regional Analysis: Specialty Food Ingredients Market
Geographically, global specialty food ingredients market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America specialty food ingredients market has the largest market share for specialty food ingredients and is expected to remain dominant in the forecasted period. The growing obesity and diabetes problems are compelling the consumers to focus on healthier lifestyles which is inclining the consumers to prefer the specialty food ingredients. The North America specialty food ingredients market largest share is followed by the Europe and Asia Pacific. Healthy eating habit is expected to boost the European specialty food ingredients market The Asia-Pacific food and beverage sector is greatly influenced by the implementation of R&D and technological innovations which is resulting in a new product outcome. Asia Pacific region is expected to witness higher growth in the coming future.
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Competition Assessment: Specialty Food Ingredients Market
Some of the players in the global Specialty Food Ingredients market include:
- DuPont (U.S)
- Cargill (U.S)
- Royal DSM (Netherlands)
- Hansen (Denmark)
- Tate & Lyle (U.K)
- Kerry Group Plc (Ireland)
- Archer Daniels Midland Company (U.S)
Notable Market Developments: Specialty Food Ingredients Market
- In February 2018, Archer Daniels Midland Company (NYSE: ADM) and Cargill have reached agreement to launch a joint venture to provide soybean meal and oil for customers in Egypt.
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