Growth Strategies Adopted by Major Players in Specialty Food Ingredients Market

The global specialty food ingredients market is estimated to be valued at USD 148.2 billion in 2022. It is projected to reach USD  196.2 billion by 2027, recording a CAGR of 5.8% during the forecast period. The importance of specialty food ingredients is gaining market attention across the regions. The specialty food ingredients market holds considerable business potential with the demand for high-value food ingredients, which bring greater attributes to processed food products by imparting color, texture, nutrition, and flavor. This is recorded as an ever-growing trend among consumers. The market is projected to benefit from numerous underlying consumer trends such as health and wellness, easy-to-use and process, natural and organic, and clean-label trends.

The key players in this market include Cargill Incorporated (US), ADM (US), DuPont (US), Ingredion (US), Kerry Group (Ireland), DSM (Netherlands), Chr. Hansen (Denmark), Sensient technology corporation (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), Amco proteins (US), and Aminola (Netherlands).

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Cargill, Incorporated is involved in producing various specialty food ingredients and other industrial products for various applications. The company operates through four business segments, namely animal nutrition & protein, food ingredients & applications, origination & processing, and industrial & financial services. It offers specialty ingredients through its food ingredients & applications segment. It offers a variety of ingredients for food and beverage manufacturers, food service companies, and other retailers. The companys various types of specialty food ingredients include acidulants, sweeteners, starches, and protein ingredients. These ingredients find applications in the beverage, bakery, dairy, and meat sectors. They enhance the appearance, taste, and stability of fresh meat and specialty meat products. The company is taking a partnership approach to expand its starches and sweetener business across India in the Asia Pacific region. It has multiple R&D centers and is focused on product innovation. For example, the Cargill ONE innovation center is involved in product innovations in sweeteners, starches, animal protein, refined oils, cocoa, texture solutions, and unique flavors to cater to the culinary demand of modern consumers. Cargill has a range of specialty food ingredients that cater to various applications, including bakery, confectionery, convenience foods, infant nutrition, snacks & cereals, and meat & fish. It has a significant presence in the North American region.

ADM is engaged in producing food ingredients, animal feed & feed ingredients, biofuels, and naturally derived alternatives to industrial chemicals. The company functions through three segments, namely Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition. Soybeans and soft seeds (cottonseed, sunflower seed, canola, rapeseed, and flaxseed) are processed into vegetable oils and protein meals in the Ag Services and Oilseeds segment of the company. ADM is also a major provider of peanuts and components generated from them to domestic and international markets. Corn and wheat wet and dry milling and other activities are part of its carbohydrate solutions segment. The company’s nutrition segment caters to various end markets, including food, beverages, nutritional supplements, livestock, aquaculture, pet food feed, and premix. The company has been focusing on various collaborations and acquisitions to strengthen its market position. It has collaborated with various firms to strengthen its product portfolio. It is also focusing on strengthening its market in North America through recent acquisitions. In March 2019, ADM acquired Florida Chemical Company, US, one of the world’s largest natural citrus oil and ingredient manufacturers.

DSM is a global science-based company engaged in the health, nutrition, and materials businesses. The company operates through four segments, namely nutrition, materials, innovation center, and corporate activities. It offers functional food ingredients through its nutrition segment. The nutrition segment of the company includes the following business units: animal nutrition & health, human nutrition & health, and personal care. DSM is one of the leaders in the functional food ingredients market. The company has adopted new product launches and acquisitions as a key strategy to expand its product line of specialty ingredients. It has also been focusing on tapping local markets by way of acquisitions to increase its global presence significantly. It has significant R&D investments and is highly focused on product innovation. New product launches will help the company cater to the growing demand for culinary applications. The company has a significant presence in the European region.