Global Specialty Food Ingredients Market Is Likely To Grow At A CAGR Value Of Around 5.5% By 2028

The Specialty Food Ingredients Market was worth around USD 136.1 billion in 2021 and is estimated to grow to about USD 187.7 billion by 2028, with a compound annual growth rate (CAGR) of approximately 5.5 percent over the forecast period. The report analyzes the Specialty Food Ingredients Market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Specialty Food Ingredients Market.

Specialty food ingredients are compounds that are added to a variety of foods to improve their nutritional value and functionality. They also improve taste, texture, appearance, and health profile while reducing food waste and extending shelf life. Colors, cultures, emulsifiers, enzymes, proteins, preservatives, flavor enhancers, high-intensity sweeteners, acidulates, pH salts, botanicals and bioactive, fats and oils, polysaccharides and oligosaccharides, and vitamins and minerals are some of the most commonly used specialty food ingredients. Rapid urbanization, hectic lives, rising disposable incomes, and the growing trend of nuclear families are all encouraging people to consume ready-to-eat (RTE) foods that need little preparation and cooking time. This is one of the most important reasons for boosting industry expansion. In addition, due to their gel-forming potential, specialty food additives including dietary fibers and antioxidants are increasingly being used in bread items, dairy, jams, meats, and soups. This is due to their aid in changing the textural qualities of these goods as well as stabilizing their high-fat emulsions. This factor is anticipated to boost the growth of the market in the coming years. Moreover, the growing emphasis on health and wellbeing is fuelling demand for natural, plant-based specialty food ingredients in order to create high-quality, multi-functional goods that are propelling market growth. Furthermore, to build a green brand image, some manufacturers are introducing novel goods with clean label components, which is helping to market growth. They are also concentrating on adopting innovative process technologies to increase scent and flavor, hide unwanted odor and taste components, and improve the quality of final goods, all of which are expected to have a favorable influence on the market.

The Specialty Food Ingredients Market is segregated based on Product Type, Source, Application, and Distribution Channel. Based on Product Type, the global market is distinguished into Specialty Sensory Ingredients (Enzymes, Emulsifiers, Flavors, Colorants, and Others), and Specialty Functional Ingredients (Vitamins, Minerals, Antioxidants, Preservatives, and Others). Based on Source, the global market is distinguished into Natural and Synthetic. Based on Application, the global market is distinguished into Beverages, Bakery and Confectionery, Dairy Products, Processed Foods, Meat Products, Savory and Sweet Snacks, and Others. Based on Distribution Channel, the global market is distinguished into Distributors and Manufacturers.

North America is expected to dominate the market throughout the projection period because of the high incidence of chronic illnesses in countries such as the United States. The North American market is driven by the desire for low-calorie meals and low-intensity sweeteners. In North America, the market for specialty food ingredients is being pushed by growing incidences of diabetes and obesity, which are urging people to focus on better lifestyles and, as a result, boosting demand for food items containing functional and specialty ingredients. As the American population becomes more health-conscious, there is a greater demand for healthy food items, prompting producers to introduce goods including specialty food components. Due to the increased awareness of food quality, specialty foods are exceeding their non-specialty counterparts in practically every category. Due to its extensive use in baking and confectionery, Asia-Pacific is expected to be the fastest expanding market for specialty food ingredients over the forecast period. Furthermore, Asia-Pacific is spending a significant amount of money on research and development to produce novel specialty food components. The Asia-Pacific market is exploding as a result of these actions.

Key players functioning in the Specialty Food Ingredients Market include Archer Daniels Midland Company, Associated British Foods Plc, Cargill Incorporated, Chr. Hansen Holding A/S, DuPont de Nemours Inc., Givaudan, Ingredion Incorporated, Kerry Group plc, Koninklijke DSM N.V., Sensient Technologies Corporation, and Tate & Lyle plc.

Recent developments:

• In 2021, "CaroNat," a naturally-sourced food component developed by the Indian business Divi's Nutraceuticals, is designed for the dark yellow to the orange color of a variety of food and beverage items, including dairy applications. CaroNat is a vegan and vegetarian organic food colorant created from concentrated carrot juice. It has a good quantity of beta-carotene, is free of artificial colors, and is vegan.
• In 2020, Kerry unveiled 13 new allergen-free plant-based protein choices derived from pea, rice, and sunflower sources. The components may be found in a variety of products, from newborn formulae to senior protein drinks, and are sold under the Hyprol and ProDiem brands.
• In 2020, The VersilkTM family of enzymes from DuPont Nutrition & Biosciences (DuPont) has been launched in North America to help yogurt and beverage makers achieve ideal texture and flavor in yogurts, drinkable dairy products, and other drinkable fermented products.

Browse the full “Specialty Food Ingredients Market By Product Type (Specialty Sensory Ingredients (Enzymes, Emulsifiers, Flavors, Colorants, and Others), and Specialty Functional Ingredients (Vitamins, Minerals, Antioxidants, Preservatives, and Others)). By Source (Natural and Synthetic). By Application (Beverages, Bakery and Confectionery, Dairy Products, Processed Foods, Meat Products, Savory and Sweet Snacks, and Others). By Distribution Channel (Distributors and Manufacturers).” Report at https://www.zionmarketresearch.com/report/specialty-food-ingredients-market

Specialty Food Ingredients Market is segmented as follows:

By Product Type

• Specialty Sensory Ingredients
  • Enzymes
  • Emulsifiers
  • Flavors
  • Colorants
  • Others
• Specialty Functional Ingredients
  • Vitamins
  • Minerals
  • Antioxidants
  • Preservatives
  • Others

By Source

• Natural
• Synthetic

By Application

• Beverages
• Bakery and Confectionery
• Dairy Products
• Processed Foods
• Meat Products
• Savory and Sweet Snacks
• Others

By Distribution Channel

• Distributors
• Manufacturers

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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