The market for specialty food ingredients is projected to reach a value of USD 91.2 Billion by 2020, growing at a CAGR of 5.5% from 2015
This report defines and segments the specialty food ingredients market with analyses and projections of the market size, in terms of value. The market has been segmented on the basis of types, applications and regions. The report also identifies the driving and restraining factors of the global market with an analysis of trends, opportunities, and challenges. The market is segmented and the market size is projected on the basis of key regions such as North America, Europe, Asia-Pacific, and Rest of the World (RoW).
• R&D and technological innovations
• Uproar for convenience foods
• Nutrition and taste convergence
• Growing end-user applications
• Raw material availability and infrastructural & technological barriers
• Vulnerability to seasonal changes
• Poor supply chain
• Opportunities in the emerging markets
• Food safety concerns and regulations
• Consumer’s perception of E numbers
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The stricter legislatives and regulations with respect to food safety and shelf-life, implied that processing industries are keen on getting the right formulation to present the best food product to the consumer, and specialty food ingredients play a pivotal role in this aspect. The main driving forces for the growing market are the advanced technology, nutrition and taste convergence, rise in convenience food sector and growing end users applications.
• Functional food ingredients
• Sugar substitutes
• Specialty starches
• F&B Starter cultures
• Bakery and confectionery
• Dairy and frozen foods
• Convenience foods
• Meat products
• Functional foods/beverages/dietary supplements
• Oils and fats
*Others include savory snacks, sauces, dressings, and condiment.
• North America
• Asia Pacific
North America dominate global specialty food ingredients market followed by Asia-Pacific region. The Asia-Pacific food and beverage sector is greatly influenced by the consumer preference for healthy food which is a major driver for functional food ingredients. The implementation of R&D and technological innovations and collaborations with such companies has been moving at a high pace resulting in the new product launches, expansions to emerging countries and partnerhsips. With economies showing positive signs of recovery, on-going industrialization, increasing demand for processed foods, and a greater preference on the part of consumers for quality products, ingredient suppliers are becoming optimistic about the future of the market.
• Research & development laboratories
• Regulatory bodies
• Intermediary suppliers
• End users
The major market players responsible for the growth in specialty food ingredients market are Archer Daniel Midland (U.S.), Royal DSM N.V. (The Netherlands), Kerry Groups (Irelands), Cargill Inc. (U.S.), E. I. DuPont de Nemours and Company (U.S.), Givaudan Flavors (Switzerland), Sensient Technologies (U.S.), CHR. Hansen (Denmark), Ingredion Incorporated (U.S.), and Tate & Lyle PLC (U.K.).