REDDING, Calif., May 15, 2024 /PRNewswire/ -- According to a new
market research report titled, 'Specialty Food Ingredients
Market Size, Share, Forecast, & Trends Analysis by Type
(Proteins and Amino Acids, Enzymes, Flavors, Starter Cultures),
Source (Natural), Application (Food {Bakery & Confectionery},
Beverages {Alcoholic})—Global Forecast to 2031,' the specialty
food ingredients market is projected to reach $266.20 billion by 2031, at a CAGR of
5.8% from 2024 to 2031. In terms of volume, this market
is projected to reach 83,936.1 KT by 2031, at a CAGR of
4.6% during the forecast period of 2024–2031.
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Specialty food ingredients are used to enhance the taste,
texture, appearance, shelf life, and nutritional value of food
products. These ingredients are primarily obtained from various
natural and synthetic sources to provide specific flavors, colors,
textures, and health benefits to foods that are not commonly found
in major food ingredients. Moreover, these specialty food
ingredients offer functional benefits essential in providing
today's consumers with a wide range of tasty, safe, healthy,
qualitative, and sustainably produced food. Specialty food
ingredients include several enzymes, emulsifiers, flavors,
colorants, acidulants, specialty starches, sweeteners, starter
cultures, proteins & amino acids, vitamins, minerals,
prebiotics, probiotics, hydrocolloids, essential oils, omega-3
fatty acids, carotenoids, preservatives, and other ingredients. The
specialty food ingredients market has seen significant growth due
to the growing adoption of convenience foods and the increasing
number of health-conscious consumers.
Key Players:
The key players operating in the global Archer-Daniels-Midland
Company (U.S.), Ashland Inc. (U.S.), Associated British Foods plc
(U.K.), BASF SE (Germany),
Cargill, Incorporated (U.S.), Chr. Hansen Holding A/S (Denmark), Givaudan SA (Switzerland), Ingredion Incorporated (U.S.),
Kerry Group plc (Ireland),
Koninklijke DSM N.V. (Netherlands), and Tate & Lyle PLC
(U.K.).
The global specialty food ingredients market study presents
historical market data (2022 and 2023), estimated current data
(2024), and forecasts for 2031— by type (proteins & amino
acids, flavors, hydrocolloids, specialty starches, vitamins,
minerals, prebiotics, probiotics, enzymes, emulsifiers, colorants,
acidulants, sweeteners, starter cultures, essential oils, omega-3
fatty acids, carotenoids, preservatives, and other food
ingredients), by source (natural specialty food ingredients and
artificial specialty food ingredients), by application (food
{bakery & confectionery, dairy products, sauces, dressings, and
condiments, snacks, breakfast cereals, meat, poultry & seafood,
infant food, and other food applications}, beverage [non-alcoholic
beverages {carbonated soft drinks, dairy-based beverages, sports
and energy drinks, iced tea, and other beverages}, alcoholic
beverages]), and by geography. The study also evaluates industry
competitors and analyzes the country-level markets.
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Key Findings in the Global Specialty Food Ingredients
Market Study:
Among all the types studied in this report, in 2024, the
proteins & amino acids segment is expected to account for the
largest share of 19.3% of the specialty food ingredients
market. However, the probiotics segment is slated to register the
highest CAGR of 9.6% during the forecast period of
2024–2031, owing to the growing consumer awareness about the health
benefits of probiotics, the increasing use of probiotics as an
alternative to antibiotics, and the growing research on
probiotics.
Among all the sources studied in this report, the natural
specialty food ingredients segment is expected to account for the
larger share of 71.2% of the specialty food ingredients
market in 2024. The large market share of this segment is
attributed to the increasing demand for organic food products, the
growing popularity of clean-label products, and rising awareness
about the health hazards associated with synthetic food
ingredients. Moreover, this segment is further projected to
register a higher CAGR during the forecast period of 2024–2031 due
to the increasing awareness about sustainable sourcing and
advancements in food technology.
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Among all the applications studied in this report, in 2024, the
food segment is expected to account for a larger share of
73.3% of the specialty food ingredients market. The large
market share of this segment is attributed to changing consumer
lifestyles and the rising preference for convenience food.
Additionally, the increasing health awareness among consumers is
steadily causing a shift towards safer and healthier foods, which
is further expected to boost the demand for specialty food
ingredients. However, the beverages segment is slated to
register the higher CAGR during the forecast period of 2024–2031,
owing to the growing demand for authentic-tasting drink options
beyond soft drinks, the increasing health awareness among consumers
causing a shift towards safer, more convenient, healthy, and
refreshing beverages, and the growing application of specialty food
ingredients in sports drinks.
Geographically, in 2024, North
America is expected to account for the largest share of
30.0% of the specialty food ingredients market. The
North America specialty food
ingredients market is estimated to be worth USD 53.8 billion in 2024. The large
share of this market is primarily attributed to growing health
concerns, the well-established food and beverage industry, growing
consumer demand for natural and clean-label foods, increasing
demand for functional food ingredients, and increasing consumption
of convenience foods.
However, the Asia-Pacific
specialty food ingredients market is slated to register the
highest CAGR during the forecast period of 2024–2031.
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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
- 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
Related Reports
Functional Ingredients Market by Type (Vitamins, Proteins and
Amino Acid, Probiotics), Source (Natural), and Application (Food
and Beverage [Dairy Products, Bakery & Confectionery, Energy
Drinks], Pharmaceuticals, Animal Nutrition) - Global Forecast to
2030
Feed Additives Market by Type (Performance Additives, Specialty
Additives), Animal Type (Poultry, Ruminants, Swine, Aquatic
Animals), Source (Synthetic, Natural), Form (Dry, Liquid), and
Geography - Global Forecast to 2030
Nutraceutical Ingredients Market by Product Type (Vitamins,
Amino Acids, Probiotic, Minerals), Derivation Method, Form
(Liquid), Application (Functional Food, Functional Beverages,
Animal Nutrition), End User, and Geography - Global Forecast to
2030
Related Blogs:
Top 10 Companies Iin Specialty Food Ingredients Market
Growing Adoption of Convenience Foods is Expected to Drive the
Growth of the Specialty Food Ingredients Market
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