Dublin, Jan. 17, 2024 (GLOBE NEWSWIRE) -- The "Specialty Food Ingredients Market by Type, Source, Application - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global specialty food ingredients market is anticipated to achieve a notable milestone, with expectations to amass $250.44 billion by the year 2030, expanding at a compound annual growth rate (CAGR) of 5.6% over the analysis period from 2023 to 2030.
In terms of volume, forecasts project the market to reach 79,704.9 kilo tons (KT) by the end of the same period, growing at a CAGR of 4.5%. The latest report offering a comprehensive market outlook and evaluation is now available, providing an extensive analysis of this dynamic market.
Undergoing meticulous secondary and primary research, the report constructs an in-depth market scenario and examines the impact of key industry drivers, constraints, and opportunities, alongside prevailing trends up until 2030. Market growth is largely fueled by changes in consumer preferences towards specialty ingredients within the food and beverage sector, an upturn in health consciousness, a surge in convenience food adoption, and increasing collaborations among industry participants.
Under the market by type segment, high-performing sub-segments garner attention:
- Proteins & Amino Acids: Leading the charge due to rising health-consciousness and vegan diets.
- Flavors: The essence of innovation in food applications.
- Hydrocolloids and Specialty Starches: Functional ingredients enhancing food texture and shelf life.
In terms of source, naturally derived specialty food ingredients are witnessing a higher CAGR. This boom results from growing consumer inclination towards organic, clean-label products and increased awareness of synthetic additives' health risks.
Considering the application sector:
- The food segment dominates, reflecting the shift towards nutritious, safer food choices.
- The bakery and confectionery category emerges as a substantial contributor propelled by health trends and the demand for convenience food.
Asia-Pacific Poised for Rapid Growth in Specialty Food Ingredients Market
The report's geographical analysis identifies Asia-Pacific as the region with the highest growth potential during the forecasted period of 2023-2030. Driving factors include rising health food trends, growing packaged food demand, urban lifestyle shifts, and an increasing population aware of the benefits of natural ingredients.
The comprehensive report delves into each of these market facets, providing quantifiable insights into regional dynamics, industry competition, and future market opportunities. It emphasizes the transformative effect of recent strategic developments and outlines key factors expected to propel market proliferation.
Key Questions Answered in the Report:
- What are the historical market sizes, volume, and growth rates of the global specialty food ingredients market?
- At what rate is the global specialty food ingredients demand projected to grow for the next 5-7 years?
- What are the major factors impacting the growth of this market at the regional and country levels? What are the major opportunities for existing players and new entrants in the market?
- Which segments, in terms of type, source, and application, are expected to create major traction for the manufacturers in this market during the forecast period of 2023-2030?
- What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the global specialty food ingredients market during the forecast period of 2023-2030?
- Who are the major players in the global specialty food ingredients market? What are their specific product offerings in this market?
- What are the recent strategic developments in the global specialty food ingredients market? What are the impacts of these strategic developments on the market?
Market Insights
Factors Affecting Market Growth
- Consumers' Changing Preferences Driving the Demand for Specialty Ingredients in the Food & Beverage Sector
- Growing Health Consciousness Among Consumers Supporting Market Growth
- Growing Adoption of Convenience Foods Driving the Utilization of Specialty Food Ingredients
- Partnerships and Distribution Agreements Among Specialty Food Ingredients Manufacturers Accelerating Market Expansion
- Specialty Food Ingredients' Short Shelf Life and Low Stability Impacting F&B Manufacturing and Product Quality
- New Product Launches and Technological Innovations Generating Growth Opportunities for Market Players
Trends
- Demand for Natural, Organic, and Clean-Label Ingredients Gaining Momentum in the Specialty Food Ingredients Market
Company Profiles (Company Overview, Financial Overview, Product Portfolio, and Strategic Developments)
- Archer-Daniels-Midland Company
- Ashland Inc.
- Associated British Foods plc
- BASF SE
- Cargill, Incorporated
- Chr. Hansen Holding A/S
- Givaudan SA
- Ingredion Incorporated
- Kerry Group plc
- Koninklijke DSM N.V.
- Tate & Lyle PLC
Scope of the Report:
Specialty Food Ingredients Market Assessment - by Type
- Proteins and Amino Acids
- Flavors
- Vitamins
- Hydrocolloids
- Specialty Starches
- Preservatives
- Minerals
- Acidulants
- Colorants
- Sweeteners
- Emulsifiers
- Essential Oils
- Prebiotics
- Enzymes
- Probiotics
- Omega-3 Fatty Acids
- Starter Cultures
- Carotenoids
- Other Specialty Food Ingredients
Specialty Food Ingredients Market Assessment - by Source
- Natural Specialty Food Ingredients
- Artificial Specialty Food Ingredients
Specialty Food Ingredients Market Assessment - by Application
- Food
- Bakery & Confectionery
- Dairy Products
- Sauces, Dressings, and Condiments
- Snacks
- Breakfast Cereals
- Meat, Poultry, and Seafood
- Infant Food
- Other Food Applications
- Beverage
- Non-alcoholic Beverages
- Carbonated Soft Drinks
- Dairy-based Beverages
- Sports and Energy Drinks
- Iced Tea
- Other Non-alcoholic Beverages
- Alcoholic Beverages
Specialty Food Ingredients Market Assessment - by Geography
- North America
- U.S.
- Canada
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/xkfpne
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