The global specialty food ingredient market is estimated to reach US$73.96 billion in 2023, growing at a CAGR of 5.50% for the period spanning from 2018 to 2023. The factors such as rising global population, changing demographics, escalating middle class population and growing demand for convenience are expected to drive the market. However, growth of the industry will be challenged by high barriers to entry, rising intense research requirements and stringent regulations along with various health hazards associated with food additives. A few notable trends include launch of new products, increasing acceptance of natural ingredients, growing awareness towards health and wellness, food safety, increasing preference for taste, and rising demand from emerging economies.
Specialty food ingredients market is further segmented into preservatives, sweeteners, color additives, flavors and spices, flavor enhancers, fat replacers, nutrients, emulsifiers, and acidulants. These ingredients help to ensure the availability of flavored, nutritious, safe, convenient, colorful and affordable foods that meet the expectations of consumers.
Flavor is the fastest growing segment in the emerging countries mainly propelled by changing consumer preference for healthy, natural and comfortable trends. The growth in natural food color market was mainly attributable to due to the switch to natural coloring, as consumers prefer natural, nutritious ingredients in their food.
Scope of the report:
• The report provides a comprehensive analysis of the global specialty food ingredients market, segmented into different ingredients that are, flavors, colors, acidulants, enzymes, sweeteners and food preservatives.
• The report provides an extensive research and detailed analysis of the present market along with future outlook.
• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
• The competitive landscape of the market, along with the company profiles of leading players (Tate & Lyle, Royal DSM, Novozymes, Kerry Group, Ingredion and Cargill) are also presented in detail.
Key Target Audience:
• Special Food Ingredients Manufacturers
• Raw Material Suppliers
• Consulting Firms
• Investment Banks
• Government Bodies & Regulating Authorities