Specialty Food Ingredients Global Market to 2027: Rising Consumption of Healthy Products is Driving the Growth Drives Growth
Global Specialty Food Ingredients Market
Dublin, March 22, 2023 (GLOBE NEWSWIRE) -- The "Specialty Food Ingredients Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
This reportprovides strategists, marketers and senior management with the critical information they need to assess the market.
The global specialty food ingredients market grew from $151.92 billion in 2022 to $162.64 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The specialty food ingredients market is expected to grow to $217.18 billion in 2027 at a CAGR of 7.5%.
Major players in the specialty food ingredients market are Ingredion Incorporated, Cargill, Tate & Lyle, DuPont Nutrition & Biosciences, Kerry Group, Royal DSM, Sensient Technologies, Givaudan, Archer Daniels Midland, BASF Group, Firmenich, Crespel & Dieters, Evonik Industries, Ashland, Axiom Foods, and Amano Enzymes.
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The specialty food ingredients market consists of sales of vitamins products, minerals, prebiotics, probiotics, hydrocolloidss. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The specialty foods ingredients are used to add a specific benefit to the core recipe of a product. Specialty food ingredients have technological and functional advantages which provide consumers with a wide variety of quality, healthy, tasty, safe, and affordable food. Specialty food ingredients, often known as cleaner ingredients, are used to create high-quality, long-lasting food for human consumption.
North America was the largest region in the specialty food ingredients market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in specialty food ingredients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main products in specialty food ingredients are functional food ingredients, sugar substitutes, F&B starter culture, specialty starches, enzymes, emulsifiers, preservatives, and others.
Functional food ingredients are consumed by individuals in different forms including high-proteins, superfoods, drinks, and vegetable-rich foods. Functional food ingredients are the leading specialty ingredients being applied in many ranges of applications, It includes distribution channel such as direct sales and direct sales that are used in raw material such as wheat, rice, maize, and others. Specialty food ingredients are used in beverages, sauces, dressings, condiments, bakery, dairy, confectionery, and others.
The rising consumption of healthy products is driving the growth of the specialty food ingredients market. With a growing demand for healthy food options, the number of health-conscious customers is steadily increasing. Sustainable and healthy diets are predicted to improve gastrointestinal health, cholesterol control, bone strength, and other health issues among the worldwide population. Specialty food components are used to preserve, color, emulsify, texture, and improve the nutritional value of foods.
For instance, according to a study published by the International Food Information Council in 2020, a US-based non-profit organization for health and dietary pattern, 43% of Americans has followed a specific diet or eating pattern as compared to the last year and nearly 1 in every 5 are using a mobile health monitoring device or app to track their calories intake.
Moreover, 41% of dieters started consumption of protein from plant sources and plant-based meat and dairy alternatives. Therefore, the rising consumption of healthy products is expected to propel the growth of the specialty food ingredients market going forward.
Product innovations are a key trend gaining popularity in the specialty food ingredients market. Major players operating in the specialty food ingredients sector are focused on product innovations to meet the consumer demand for sugar substitutes. For instance, in May 2020, Ingredion Incorporated, a US-based food company launched Erysta which is made from erythritol polyol. Erysta has a sweet flavor profile, unique cooling effect, and contains no calories, allowing producers to make claims about energy and sugar minimization on the packaging.
The countries covered in the specialty food ingredients market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Key Attributes:
Report Attribute | Details |
No. of Pages | 200 |
Forecast Period | 2023 - 2027 |
Estimated Market Value (USD) in 2023 | $162.64 billion |
Forecasted Market Value (USD) by 2027 | $217.18 billion |
Compound Annual Growth Rate | 7.5% |
Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Specialty Food Ingredients Market Characteristics
3. Specialty Food Ingredients Market Trends And Strategies
4. Specialty Food Ingredients Market - Macro Economic Scenario
4.1 COVID-19 Impact On Specialty Food Ingredients Market
4.2 Ukraine-Russia War Impact On Specialty Food Ingredients Market
4.3 Impact Of High Inflation On Specialty Food Ingredients Market
5. Specialty Food Ingredients Market Size And Growth
5.1. Global Specialty Food Ingredients Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Specialty Food Ingredients Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Specialty Food Ingredients Market Segmentation
6.1. Global Specialty Food Ingredients Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Functional Food Ingredients
Sugar Substitutes
F&B Starter Culture
Specialty Starches
Enzymes
Emulsifiers
Preservatives
Others
6.2. Global Specialty Food Ingredients Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Direct Sales
Indirect Sales
6.3. Global Specialty Food Ingredients Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Beverages
Sauces, Dressings And Condiments
Bakery
Dairy
Confectionary
Others
7. Specialty Food Ingredients Market Regional And Country Analysis
7.1. Global Specialty Food Ingredients Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Specialty Food Ingredients Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/f55m0q
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