Food ingredients add color, textures, flavor, functionalities, and nutrients to cooked or processed foods items. Food ingredients are added to processed foods to improve their flavor. The food and beverage industries use specialty food ingredients to improve the taste and flavor of processed foods. Specialty food ingredients are able to meet customer demands because of their distinct characteristics, which include processing aids, nutritional enhancement, preservation, emulsification, and coloring.
The global specialty food ingredients market size is predicted to reach over USD 49 billion by 2028. This can be ascribed to the growing awareness among consumer related to health benefits. Moreover, changing lifestyles and the high prevalence of chronic diseases are the primary factor drivers the demand of specialty food ingredients.
However, high cost and limited availability of raw materials are restraining the market growth. Moreover, increasing number of end-use applications, due to the multifunctional features of various ingredients, is expected to create opportunities for growth within the specialty food ingredients market.
Specialty Food Ingredients Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 49 billion|
|Growth Rate||CAGR of 28% during 2021-2028|
|Segment Covered||Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Ingredion Incorporated, Kerry Group Plc., Cambrian Solutions Inc., Cargill Inc., Advanced Food Systems Inc., E. I. Dupont De Nemours and Company, Tate & Lyle, Specialty Commodities, Sensient Technologies Corporation, and Koninklijke DSM N.V.|
Key Segments of the Global Specialty Food Ingredients Market
Type Overview, 2019-2028 (USD Million)
- F&B Starter Culture
- Functional Food Ingredients
- Sugar Substitute
- Specialty Starches
Application Overview, 2019-2028 (USD Million)
- Convenience Foods
- Bakery & Confectionery
- Functional Foods
- Dairy & Frozen Foods
- Meat Products
Regional Overview, 2019-2028 (USD Million)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global specialty food ingredients market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global specialty food ingredients market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the specialty food ingredients industry and their strategic initiatives for product development.
- The study covers a qualitative and quantitative analysis of the market segmented based on component, application, and industry vertical. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global specialty food ingredients market. The report will benefit every stakeholder involved in the specialty food ingredients market.
- Managers within the specialty food ingredients industry looking to publish recent and forecasted statistics about the global specialty food ingredients market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of the global specialty food ingredients market.
- Analysts, researchers, educators, strategy managers, and government institutions looking for insights into the market to determine future strategies.
Global demand for fortified foods is increasing rapidly. Fortified foods contain functional food ingredients such as vitamins, minerals, antioxidants, hydrocolloids, prebiotics, amino acids, plant extracts, and carotenoids. The health-conscious population is swiftly expanding in emerging markets, fueling demand for food fortification. Differences in nutritional consumption across regions contribute significantly to the apparent differences in population health across countries. The increased demand for fortified foods, is anticipated to further boost the sales of specialty food ingredients.
The growing number of end-use applications, because of the multifunctional characteristics of various ingredients, is anticipated to create opportunities for growth within the specialty food ingredients market. Food processing ingredients such as emulsifiers are mostly utilized in bakery & confectionery, convenience foods, dairy & frozen desserts, and meat products. Emulsifiers are commonly used in, meat products, convenience foods, dairy & frozen desserts, and bakery and confectionery. Colors and flavors are also commonly used in bakery and beverage applications.
The market is consolidated as several major market players currently hold the major market share. However, the market is expected to become fragmented in the forthcoming years as several new market players are emerging from developing countries such as India, Japan, China, and other countries
Based on the component segment, the market is bifurcated into flavors, F&B starter culture, acidulant, enzymes, functional food ingredients, colors, preservatives, sugar substitute, emulsifiers, and specialty starches. In 2020, the functional food ingredients segment hold the largest market share and it is likely to maintain its dominance throughout the forecast years. However, the acidulant segment is expected to attain major growth throughout the forecast years due to the introduction of a various value-added products and a rise in functional beverages are few major factors boosting the demand for acidulants in food & beverage applications.
Based on the application, the market is segmented into beverages, convenience foods, bakery & confectionery, functional foods, dairy & frozen foods, and meat products. The beverages segment hold the maximum market share in 2020 and it is likely to retain its position throughout the forecast years. The growth of this segment is largely ascribed to the shifting consumer preference and growing health awareness.
North America is anticipated to dominate the global market in forecasted period due to rising consumption of processed food in the U.S. and Canada. However, Asia Pacific region is projected to observe highest growth in the upcoming years. Emerging markets of China, India and Brazil is further anticipated to fuel the global specialty food ingredients market.
The major players of the global specialty food ingredients market are Ingredion Incorporated, Kerry Group Plc., Cambrian Solutions Inc., Cargill Inc., Advanced Food Systems Inc., E. I. Dupont De Nemours and Company, Tate & Lyle, Specialty Commodities, Sensient Technologies Corporation, and Koninklijke DSM N.V.