Specialty Food Ingredients Market

Specialty Food Ingredients Market is anticipated to grow at a CAGR of 5.7% during forecast period and estimated to reach USD 211 Billion by 2027.

Introduction of the Global Specialty Food Ingredients Market Industry Report

Specialty food ingredients offers numerous technological and functional advantages and are considered as an important part in various food products for improving their taste, safety level, or to make it healthier. The changing diet pattern of individuals around the world is a major factor that is surging the demand of the specialty food ingredients market.

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Market Dynamic

Key Drivers and Emerging Trends

One of the biggest factors that is responsible for the growth of the global specialty food ingredients market includes the strong demand for fortified food products at the global level. The fortified food products use various types of functional food ingredients such as amino acids, plant extracts, antioxidants, vitamins, minerals, and other ingredients. With the increasing chronic diseases globally and micronutrient deficiencies, people are slowly shifting towards healthier diet patterns to minimize the chances of contracting these diseases. As per the WHO, in 2020, around 1.9 billion adults were overweight or obese, and 462 million were underweight. Moreover, approximately 45% of the deaths among children under the age group of 5 years is directly linked with undernutrition. Thus, the increasing ratio of the health-conscious population followed by the rising middle class, particularly in the developing countries, are the two key drivers that are contributing to the market growth. Specialty ingredients are essential products that help in increasing the well-being of various processed food items. Numerous ingredients such as fibers, carbohydrates, fats, and other specific proteins perform various functional activities, which improves the diet quality.

Constant technological advancement is another factor that is opening new doors for the growth of the market. The implementation of new technologies such as the decaffeination of coffee beans that decrease the gastro-oesophageal reflux in patients and health-conscious people is further surging the demand for various functional ingredients. In addition to this, the growing application of specialty food ingredients in numerous end-use industries is bringing growth opportunities in the market. The food processing ingredients are increasingly used as emulsifiers, specifically in convenience food, dairy & frozen desserts, meat products, and bakery products. This is a significant driver that will have a positive impact on the growth of the Specialty Food Ingredients market size.

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Type – Segment Analysis

Based on the type, the enzymes segment is predicted to grow at a higher CAGR during the forecast period. Enzymes help in the development and production of nutritious food and beverage products around the world. The increasing usage of customized enzyme solutions for the processing of fruit and vegetable, cheese, protein, grains, and fats and oil, in various sectors such as dairy, baking, and other industries is a major factor in propelling the market growth. They are used due to their highly active nature of enhanced reactions and function uniquely to control the texture, flavor, and processing time of the chemical additives.

Application – Segment Analysis

Based on the application, the beverage segment is anticipated to grow at a higher CAGR during the forecast period. The increasing use of specialty food ingredients for enhancing the product quality, color, texture, and adding nutritional value is a key driver that is surging the growth of the segment in the market. The specialty food ingredients help in reducing the sugar content and increases the nutritional benefits of the beverages. They also add vitamins and mineral or other functional benefits which helps in improving energy and increasing the immunity and gut health.

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Regional – Segment Analysis:

Based on the region, Asia-pacific region is anticipated to dominate the market during the forecast period. China has one of the leading food processing industry and the highest number of processing and specialty ingredients manufacturing companies. The significant shift in the consumption habits of the individuals has encouraged them to opt for healthy food and beverage options. This factor has directly surged the demand for functional food ingredients such as specialty enzymes, proteins, sugar substitutes, and other ingredients. Moreover, the millennial population is increasingly opting for immunity-boosting food and beverage products, which is further driving the regional market growth.

Top Market Players

Various notable players operating in the market include Cargill, Incorporated, ADM, DSM, Kerry, DuPont, GIVAUDAN, Ingredion Incorporated, Sensient Technologies Corporation, Tate & Lyle, and CHR. HANSEN, among others. 

Key Developments:

• • In 2020, Cargill, Incorporated introduced a new sweetener C TruSweet 01795 to capture the changing demand of the consumers towards label-friendly and reduced sugar alternatives in Europe.
  • In 2020, Kerry laucnehd 13 new plant-based protein ingredients made form pea, rice, and sunflower under its product line known as Hyprol and ProDiem. Through this expansion, the company aimed to strengthen its position in the market.
  • In 2019, DSM introduced its new solution to its BakeZyme product offerings. This will help in meeting the changing demand of the consumers.

Segments covered in the Report:

The global specialty food ingredients market has been segmented on the basis of type, application, and regions. Based on Type, the market is segmented into functional food ingredient, specialty starch and texturant, sweetener, preservative, colorants, enzymes, and others. Based on the application, the market has been segmented into beverages, sauces, dressings, and condiments, bakery, dairy, confectionery, processed food, and others. 

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Key questions answered in this research report:

• • At what pace is global Specialty Food Ingredients Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Global Specialty Food Ingredients Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Specialty Food Ingredients Market?
  • Which type generated maximum revenues in 2019 and identify the most promising type during the forecast period?
  • What are the various application areas of global Specialty Food Ingredients Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Specialty Food Ingredients Market by Type

• • Functional Food Ingredient
  • Specialty Starch and Texturant
  • Sweetener
  • Preservative
  • Colorants
  • Enzymes
  • Others

Global Specialty Food Ingredients Market by Application

• • Beverages
  • Sauces, Dressings, and Condiments
  • Bakery
  • Dairy
  • Confectionery
  • Processed Food
  • Others

Global Specialty Food Ingredients Market by Region

• • North America Specialty Food Ingredients Market (Option 1: As a part of the free 25% customization)
    • North America Specialty Food Ingredients Market by Type
    • North America Specialty Food Ingredients Market by Application
    • US Specialty Food Ingredients Market All-Up
    • Canada Specialty Food Ingredients Market All-Up
  • Europe Specialty Food Ingredients Market (Option 2: As a part of the free 25% customization)
    • Europe Specialty Food Ingredients Market by Type
    • Europe Specialty Food Ingredients Market by Application
    • UK Specialty Food Ingredients Market All-Up
    • Germany Specialty Food Ingredients Market All-Up
    • France Specialty Food Ingredients Market All-Up
    • Spain Specialty Food Ingredients Market All-Up
    • Rest of Europe Specialty Food Ingredients Market All-Up
  • Asia-Pacific Specialty Food Ingredients Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Specialty Food Ingredients Market by Type
    • Asia-Pacific Specialty Food Ingredients Market by Application
    • China Specialty Food Ingredients Market All-Up
    • India Specialty Food Ingredients Market All-Up
    • Japan Specialty Food Ingredients Market All-Up
    • Rest of APAC Specialty Food Ingredients Market All-Up
  • RoW Specialty Food Ingredients Market (Option 4: As a part of the free 25% customization)
    • RoW Specialty Food Ingredients Market by Type
    • RoW Specialty Food Ingredients Market by Application
    • Brazil Specialty Food Ingredients Market All-Up
    • South Africa Specialty Food Ingredients Market All-Up
    • Saudi Arabia Specialty Food Ingredients Market All-Up
    • UAE Specialty Food Ingredients Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Specialty Food Ingredients Market All-Up

Major Players Operating in the Global Specialty Food Ingredients Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Cargill, Incorporated
  • ADM
  • DSM
  • Kerry
  • DuPont
  • GIVAUDAN
  • Ingredion Incorporated
  • Sensient Technologies Corporation
  • Tate & Lyle
  • HANSEN