Market Insights
Specialty food ingredients are a
vital addition to processed food as they help maintain the functional integrity
of the product while adding several micronutrients which enhance the diet.
Specialty food ingredients are largely used to perform a wide number of
applications such as preserve the texture of a product or enhance its color.
This makes the product easier to consume as it increases flavor makes the
product safe among other advantages which are key in driving the global
specialty food ingredients market. Market Research Future has conducted a
thorough study of the market, and the upcoming report features many pertinent
facts and figures as well as important observations. The growth of the market
is reliant on the fact that the specialty food ingredients are important in
maintaining the sustainability of processed food products. Their use in almost
every part of the F&B industry such as bakery & confectionery items,
beverages, meat products, and several others is also a key factor driving its
growth as demand is consistent and ongoing.
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Moreover, consumers are rapidly
shifting preferences in food for convenient processed food as well as
functional food & beverages due to rising concern for health. Prevalence of
chronic diseases has increased, particularly in urban areas. Diabetes and
obesity are on the rise and have spurred consumers to make changes in their
diet, thus resulting in a shift toward health consciousness in a choice of food
products. Many countries have stringent laws regarding the printing of
nutritional information on products which have slowly garnered attention among
consumers as they are now putting more emphasis on ingredients in processed
food. Additionally, the trend for convenient and functional food and beverage
items has encouraged the adoption of specialty food ingredients in order to add
a healthy edge to conventional products to tap into the growing
health-conscious demographic in urban areas. Another factor of note in the same
vein, is the preference for convenient packaged and processed F&B products
as lifestyles in urban areas have become highly hectic, with more women joining
the workforce. The busy lifestyles of working professionals are a key factor
driving the sales of packaged or processed food items, thus driving the growth
of the global specialty food ingredients market.
Key Players
·
Frutarom
·
Archer Daniel Midland
·
Kerry Groups
·
Tate & Lyle PLC, Evonik
·
Ingredion
·
Royal DSM N.V.
·
PPG Industries
·
Ingredion Incorporated
·
CHR. Hansen
·
Naturex, Cargill Inc.
·
KF Specialty Ingredients
·
E. I. DuPont de Nemours and Company
·
Givaudan Flavors
·
Ashland Inc
Market Segmentation
The Specialty
Food Ingredients Industry has been segmented in MRFR's report to
provide a view of the market in its various parts as well as a whole. The
market has been segmented based on ingredients, application, and region.
Ingredients are segmented into vitamins, minerals, antioxidants, sugar substitutes,
flavors, specialty starches, acidulants, preservatives, emulsifiers, colors,
enzymes, and F&B starter cultures. Applications for specialty food
ingredients are found in bakery & confectionery, beverages, dairy &
frozen foods, convenience foods, meat products, and functional food/
beverages/dietary supplements.
The market has also been analyzed
by its various geographical segments which include North America, Latin
America, Europe, Asia-Pacific, and the Middle East & Africa.
Regional Analysis
North America and Europe have
significant markets for specialty food ingredients, and these regions have a
high concentration of market players who are actively involved in the growth of
the market. The presence of a considerable F&B sector in these regions combined
with the increasing health consciousness as well as stringent regulations
regarding the use of certain specialty food ingredients are expected to fuel
the growth of the market.
Meanwhile, the Asia Pacific
represents massive potential for the market as it has a high concentration of
emerging economies with massive populations. The region is urbanizing rapidly,
and the demand for convenient and functional processed or packaged food items
is driving the APAC market. APAC also has an increasing number of women
participating in the workforce, which has further increased the demand for
healthy functional food which is convenient and supports a busy schedule
without compromising of health.
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