The report “Specialty Food Ingredients Market by Ingredient (Functional Food Ingredients, Sugar Substitutes, Specialty Starches, Flavors, Acidulants, Colors, Preservatives, Emulsifiers, Enzymes and F&B Starter cultures), & by Application (Bakery & Confectionery, Beverages, Dairy & Frozen foods, Convenience foods, Meat Products & Functional Foods/Beverages/Dietary Supplements) – Global Trends & Forecasts to 2020”, 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
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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).
An uproar for the convenience foods being a key trend, owing mainly to the changing lifestyle and the purchasing power of the consumer, has also fueled the growth for the market. There is a strong co-relation seen between the trends of the global specialty food ingredients market and the global processed food and beverage markets. The key aspect for this co-relation is the role played by the specialty food ingredients’ applications.
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.
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.
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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.).
This research report includes the market for specialty food ingredients used in Bakery & Confectioneries, Beverages, Dairy & Frozen Foods, Convenience Food, Meat Products, Functional Foods/ Beverages/ Dietary Suppliments, Oils & Fats and Others (includes Savory snacks, Sauces, Dressings & Condiments.
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