Westford, USA, July 27, 2023 (GLOBE NEWSWIRE) -- The global Specialty Food Ingredients market size is expected to reach USD 230.25 billion by 2030 and exhibit a CAGR of 5.6% in the forecast period (2023−2030), according to Skyquest's latest research report. The increasing consumer demand for healthier and more nutritious food products, rising awareness about food allergies and intolerances, growing interest in natural and clean label ingredients, expanding food processing and convenience food industries, and advancements in food technology and research are fueling the market's growth.
According to SkyQuest's latest global research of the Specialty Food Ingredients market, growing demand for plant-based and vegan ingredients, increasing use of functional food ingredients for health benefits, rising popularity of clean label and natural ingredients, expanding interest in sustainable and environmentally friendly sourcing practices, innovation in food processing techniques to preserve ingredient functionality, surge in personalized and customized food solutions, and the adoption of advanced technologies for ingredient research and development are the trends that aid in the market's growth.
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- Pages - 157
- Tables - 81
- Figures -75
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Speciality food ingredients are ingredients that are used in food products to provide specific functional or sensory properties. They are often used in small quantities, but they can have a big impact on the overall quality of the food product. Speciality food ingredients can be natural or synthetic, and they can be derived from plants, animals, or minerals. They are used in a wide variety of food products, including baked goods, beverages, confectionery, dairy products, and snacks.
Prominent Players in Specialty Food Ingredients Market
- Ingredion
- DuPont Nutrition & Biosciences
- Kerry
- Tate & Lyle
- Cargill
- Arla Foods
- Archer Daniels Midland
- DSM
- Roquette
- Ingredion Incorporated
- Colorcon
- Sensient Technologies
- International Flavors & Fragrances
- Symrise
- Givaudan
- Corbion
- BASF
- Novozymes
- Chr. Hansen
- Kemin Industries
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Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2023-2030 |
| Market Size in 2022 | 148.9 Billion |
| 2030 Value Projection | 230.25 Billion |
| CAGR | 5.6% |
| Segments Covered |
|
| Regions Covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Flavors & Enhancers Demand to Grow Substantially in the Forecast Period
Flavors & Enhancers dominate the global online market as they play a crucial role in enhancing the taste and appeal of food products. Consumers increasingly seek unique and exotic flavors, driving the demand for speciality flavours and enhancers. Additionally, the rise in global cuisine trends and the popularity of ethnic flavours contribute to the dominance of this ingredient type.
Bakery & Confectionery are the Leading Application Segment
In terms of application, clinics and medical spas are the leading segment, as specialty food ingredients are extensively used in the bakery and confectionery industry for various purposes, such as flavour enhancement, texture improvement, shelf-life extension, and color enhancement. These ingredients are crucial in creating a wide range of bakery and confectionery products with unique and appealing characteristics.
North America is the leading Market Due to Technological Advancements
Region-wise, North America is one of the largest growing markets with a huge emphasis on technological advancements. Factors contributing to its dominance include a well-established food and beverage industry, a culture of innovation, and a strong consumer demand for healthy and premium food products. The region's focus on clean labels and natural ingredients, along with a wide range of food processing technologies, further drives the speciality food ingredient market in North America.
A recent report thoroughly analyzes the major players operating within the Specialty Food Ingredients market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavours to develop innovative solutions that cater to the ever-increasing demand for Specialty Food Ingredients.
Key Developments in Specialty Food Ingredients Market
- DSM acquired Nexira in March 2023 for $1.2 billion. Nexira is a speciality food ingredient company that specializes in natural sweeteners and texturizers.
- DuPont Nutrition & Biosciences acquired Glanbia Nutritionals in April 2023 for $1.2 billion. Glanbia Nutritionals is a speciality food ingredient company that specializes in dairy proteins and fibres.
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Key Questions Answered in Specialty Food Ingredients Market Report
- What specific growth drivers will impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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