WASHINGTON, Sept. 12, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Specialty Food Ingredients Market finds that the increased need for Specialty Food Ingredients Market in the food processing market is expediting market growth. In addition, the mounting health awareness among consumers worldwide and the need for natural and label-friendly food colors will likely expand the development of the Global Specialty Food Ingredients Market during the forecast period.
The Global Specialty Food Ingredients Market revenue is expected to reach a value USD 200.2 Billion in 2028.
The Global Market revenue was valued at USD 145.2 Billion in 2021 and is expected to grow to exhibit a Compound Annual Growth Rate (CAGR) of 5.5% during the forecast period; states Vantage Market Research, in a report, titled “Specialty Food Ingredients Market Size, Share & Trends Analysis Report by Types (Acidulants, Colors, Enzymes, Emulsifiers, Food Flavors, F&B Starter Cultures, Preservatives, Functional Food Ingredients, Specialty Starch, Sugar Substitutes), by Applications (Beverages, Food), by Distribution Channels (Manufacturers, Distributors), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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Key Industry Findings & Insights from the report:
- The global Specialty Food Ingredients Market was valued USD 145.2 Billion in 2021 and is all set to surpass USD 200.2 Billion by 2028, exhibiting a CAGR of 5.5% during the forecast period 2022-2028.
- In terms of revenue, the application segment held the largest revenue share of in 2021 and is estimated to maintain its dominance for the forecast period.
- In terms of revenue, the product segment held the second largest market share of in 2021 and is estimated to grow rapidly during the forecast period.
- The growth can be attributed to rapid urbanization, technological advancement, an increase in investment by developing countries.
- North America captured the lion share in 2021 and is projected to retain its position over the forecast period. This can be attributed to the existence of a significant number of Specialty Food Ingredients industry companies and the high adoption rate owing to government measures that stimulate this industry in this region. The growth is primarily due to the increasing collaborations.
List of Prominent Players in Specialty Food Ingredients Market:
- Cargill Incorporated (US)
- ADM (US)
- DuPont (US)
- Ingredion (US)
- Kerry Group (Ireland)
- DSM (Netherlands)
- Chr. Hansen (Denmark)
- Sensient technology corporation (US)
- Tate & Lyle (UK)
- Givaudan (Switzerland)
- Biocatalysts (UK)
- Omega Protein (US)
- Enzyme Supplies (UK)
- FDL Ltd (UK)
- Nutriati (US)
- Crespel & Dieters (Germany)
- Axiom Food (US)
- Amano Enzymes (Japan)
- Amco Proteins (US)
- Aminola (Netherlands)
Market Dynamics:
Driver:
Growth in Demand for Specialty Food Ingredients Market in Food Processing Production to Drive the Market Growth
The growth in the demand for Specialty Food Ingredients Market is driven by major factors such as the surge in demand for convenience and processed foods across the globe. In addition, Specialty Food Ingredients Market are used for coloring, mixing, texture, and preserving food products, which helps to enhance the nutritional properties of the food and processed food. As a result, an extensive range of safe, qualitative, full of flavor, and healthy foods are derived using Specialty Food Ingredients Market. Moreover, greater than before, health awareness among the consumer is increasing the need for high-quality and fresh food products.
Furthermore, the changed lifestyle and the expanding consumption of processed foods in the developing economies are fuelling the growth of the Specialty Food Ingredients Market. Also, the manufacturers have been using a massive quantity of Specialty Food Ingredients Market in their food processing. Besides, the growth in trends of the bakery sector, confectionery sector, etc., will likely propel the Global Specialty Food Ingredients Market growth in the future.
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Need for Natural and the Label-Friendly Food Colorants to Stimulate the Market Growth
The increased demand for natural colorants and the growing preferences for clean-label products will likely drive market expansion. Natural colorants have several applications in functional foods. Food colors find use in various processed foods, including candies, soft drinks, snack foods, cheese, jams/jellies, pudding, gelatins, and others. Even though natural colors are safe, they have a few issues, like consistency. The production of these colors involves high production expenses and a lack of raw material availability. Paprika is the natural food color prepared from chili peppers, i.e., capsicum, and is utilized as a garnish in different recipes to make vibrant colors. Specialty Food Ingredients Market manufacturers are innovating and providing new label-friendly products due to the rise in applications and demands, which is assisting the global market in development.
COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide, and the Global Specialty Food Ingredients Market is not an exception. Administrative bodies worldwide implemented curb measures, for instance, lockdown, to ensure strict social distancing norms to restrict the spread of the disease. Small and medium-scale industries, which are technology partners to the Specialty Food Ingredients Market companies, suffered impact due to the pandemic. In addition, the Specialty Food Ingredients Market was also impacted by the restricted movement of goods and people due to the lockdown measures in place during the beginning stages of the COVID-19 spread.
Since the beginning of 2022, the supplies and workforce are expected to resume normal which will further bolster Specialty Food Ingredients Market industry coming back on track. Vantage Market Research, while performing the research on the topic for the Global Specialty Food Ingredients Market has considered the end-to-end impact of COVID-19 on the Global Specialty Food Ingredients Market. In addition, the study also deep dives into the after-effects of the COVID-19 pandemic on the subsidiary units of the Specialty Food Ingredients Market industry. Furthermore, the study also does an exhaustive analysis while estimating the present and the future market size for the Global Specialty Food Ingredients Market industry primarily based on the aforementioned data points:
1. Impact Assessment of COVID-19 Pandemic
a. North America
b. Europe
c. Asia Pacific
d. Latin America
e. Middle East & Africa
2. Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
3. Key Strategies Undertaken by Companies to Tackle COVID-19
4. Long-Term Dynamics
5. Short-Term Dynamics
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The report on Specialty Food Ingredients Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates, and Forecast
- Company Profiles
Regional Analysis:
North America Dominated the Global Specialty Food Ingredients Market
North America is dominating the Global Specialty Food Ingredients Market and will continue its trend during the forecast period. This dominance is attributable to the increased rates of diabetes and obesity worldwide and consumers' focus on healthier lifestyles. Moreover, the U.S. market is contributing well to this region owing to the rising intake of energy drinks, juice drinks, and soft drinks and the fostering of acidulants like citric acid. Ready-to-eat food products are gaining popularity among customers because of their busy standard of living, their evolving eating habits, and convenience. Also, consumers go for organic poultry and meat products to eat gluten-free products, and the poultry & meat products market uses the high quantity of Specialty Food Ingredients Market to improve the quality of products and aids the industry in getting bigger. Besides, manufacturers tend to launch products with Specialty Food Ingredients Market, fueling the demand for food products with functional & specialty ingredients in the region.
Browse market data Tables and Figures spread through 145 Pages and in-depth TOC on "Specialty Food Ingredients Market Size, Share & Trends Analysis Report by Types (Acidulants, Colors, Enzymes, Emulsifiers, Food Flavors, F&B Starter Cultures, Preservatives, Functional Food Ingredients, Specialty Starch, Sugar Substitutes), by Applications (Beverages, Food), by Distribution Channels (Manufacturers, Distributors), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".
Recent Developments:
July 2020: Cargill Inc., a global food corporation, launched a specialty and label-friendly sweetener, CTruSweet 01795, which comes with 30 percent sugar and calorie reduction in beverages and other food applications for the European market.
Key Questions Answered in The Report:
- Which region will show the fastest and highest growth in the near future?
- Which are the top five players and their weakness and strength of the Market?
- What will be the future innovation in the upcoming six years?
- Which application and product will lead the largest share of the Market?
- What are the growth drivers, restraints and challenges of the industry?
- What will be the CAGR and size of the Specialty Food Ingredients Market for the base year and forecast period?
This market titled “Specialty Food Ingredients Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Parameter | Details |
| Market Size Provided for Years | 2016-2028 |
| Base Year | 2021 |
| Historic Years | 2016-2020 |
| Forecast Years | 2022-2028 |
| Segments Covered | • Types • Acidulants • Colors • Enzymes • Emulsifiers • Food Flavors • F&B Starter Cultures • Preservatives • Functional Food Ingredients • Specialty Starch • Sugar Substitutes • Applications • Beverages • Food • Distribution Channels • Manufacturers • Distributors • Region • North America • Europe • Asia Pacific • Latin America • Middle East & Africa |
| Region & Counties Covered | • North America • U.S. • Canada • Mexico • Europe • U.K • France • Germany • Italy • Spain • Rest Of Europe • Asia Pacific • China • Japan • India • South Korea • South East Asia • Rest Of Asia Pacific • Latin America • Brazil • Argentina • Rest Of Latin America • Middle East & Africa • GCC countries • South Africa • Rest Of Middle East & Africa |
| Companies Covered | • Cargill Incorporated (US) • ADM (US) • DuPont (US) • Ingredion (US) • Kerry Group (Ireland) • DSM (Netherlands) • Chr. Hansen (Denmark) • Sensient technology corporation (US) • Tate & Lyle (UK) • Givaudan (Switzerland) • Biocatalysts (UK) • Omega Protein (US) • Enzyme Supplies (UK) • FDL Ltd (UK) • Nutriati (US) • Crespel & Dieters (Germany) • Axiom Food (US) • Amano Enzymes (Japan) • Amco Proteins (US) • Aminola (Netherlands) |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis |
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