Request Sample Report: https://www.coherentmarketinsights.com/insight/request-sample/6856
Market Dynamics:
The growth of the specialty food ingredients market is driven by the rising health consciousness among consumers and increasing demand for processed and convenience food products. Consumers are increasingly preferring food products with additional health benefits which is prompting manufacturers to develop fortified and enriched food products using specialty ingredients. Furthermore, changing consumption patterns and improving lifestyles have increased the demand for convenience food items that contain specialty ingredients to provide taste and texture.
Specialty Food Ingredients Market Report Coverage
|
Report Coverage |
Details |
|
Market Revenue in 2024 |
$107.4 billion |
|
Estimated Value by 2031 |
$155.2 billion |
|
Growth Rate |
Poised to grow at a CAGR of 5.4% |
|
Historical Data |
2019–2023 |
|
Forecast Period |
2024–2031 |
|
Forecast Units |
Value (USD Million/Billion) |
|
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
By Product, By Functional |
|
Geographies Covered |
North America, Europe, Asia Pacific, and Rest of World |
|
Growth Drivers |
• Growing Health Consciousness • Rising Incidences of Food Allergies and Intolerance |
|
Restraints & Challenges |
• Health-Conscious Consumers, Ingredient Transparency, Price Volatility, and Regulatory Compliance • Supply Chain Challenges |
Market Trends:
Clean Label Trend – Consumers are increasingly looking for label transparency and prefer food products with simple and easy-to-understand ingredient lists. This has prompted companies to focus on clean label specialty ingredients to gain consumer trust.
Plant-Based Ingredients Trend – Growing preference for vegan and vegetarian diets is fueling the demand for plant-derived specialty food ingredients like plant proteins, fibers, minerals etc. Manufacturers are developing dairy-free, meat-free products using plant-based specialty ingredients to cater to this dietary trend.
Immediate Delivery Available | Buy This Premium Research Report: https://www.coherentmarketinsights.com/insight/buy-now/6856
Market Opportunities:
The food & beverage application segment accounted for the largest share of over 35% in the global specialty food ingredients market in 2024. Increasing demand for processed food products with added health benefits is driving the demand for specialty food ingredients from the food & beverage industry. Various specialty ingredients such as emulsifiers, coloring agents, flavors and binders are increasingly being used in bakery, dairy, snacks and other processed food products to enhance their nutritional value, texture and shelf life.
The sensory products segment held the largest market share of around 30% in 2024 driven by the widespread use of specialty ingredients that affect food products’ appearance, odor and taste. Companies in the specialty ingredients market are focused on developing advanced sensory ingredients to enhance flavors and textures in a wide variety of food applications. For instance, new multi-functional flavor systems are gaining popularity as they allow modifying taste profiles as well as textures of foods.
Key Market Takeaways:
The global specialty food ingredients market is anticipated to witness a CAGR of 5.4% during the forecast period 2024-2031, owing to the rising health-consciousness among consumers and demand for clean-label and organic foods.
On the basis of application, the food & beverage segment is expected to hold a dominant position, accounting for over 35% share due to high demand from bakery, dairy and other processed food sectors. Within products, the sensory segment is projected to dominate with a share of around 30%, driven by the widespread application of specialty ingredients that enhance flavors, odors and textures of food products.
On the basis of region, North America is expected to hold a dominant position over the forecast period, with a share of over 30%, due to stringent food regulations and well-established food processing industry in the region. Europe is also expected to account for a significant market share.
Key players operating in the specialty food ingredients market include Naturex, Givaudan, Eli Fried Inc., KF Specialty Ingredients, Archer Daniels Midland, Tate & Lyle, Ingredion, Cargill and DuPont. These players are focusing on new product developments, mergers & acquisitions and expansion strategies to strengthen their market position.
Recent Developments:
In Nov 2022, Tate & Lyle launched a new sweetener, Erytesse erythritol. It announced that through a strategic partnership distribution agreement with a leading supplier of erythritol, this addition would expand its ability to help customers deliver on consumer demand for healthier and sugar and calorie-reduced products.
In Oct 2022, International Flavors and Fragrance Inc. invested USD 30 million to expand its regional footprint in Singapore. The Nourish, Health & Biosciences, Scent, and Pharma Solutions business divisions are all integrated into the new Singapore innovation center. It is the largest IFF property in the area at almost 11,000 sq m.
Request For Customization: https://www.coherentmarketinsights.com/insight/request-customization/6856
Market Segmentation
By Product:
- Sensory
- Enzymes
- Emulsifiers
- Flavors
- Colorants
- Others
- Functional
- Vitamins
- Minerals
- Antioxidants
- Preservatives
- Others
By Application:
- Food & Beverage
- Snacks
- Bakery
- Confectionery
- Dairy Products
- Breakfast Cereals
- Frozen Foods
- Meat, Poultry & Seafood
- Baby Food
- Others (Sauces, Dressings & Condiments, etc.)
- Personal Care
- Pharmaceutical
- Others
By Regional:
North America:
- U.S.
- Canada
Latin America:
- Brazil
- Argentina
- Mexico
- Rest of Latin America
Europe:
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
Asia Pacific:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
Middle East:
- GCC Countries
- Israel
- Rest of Middle East
Africa:
- South Africa
- North Africa
- Central Africa
Browse More Trending Reports:
Food Preservatives Market: Global food preservatives market is estimated to be valued at USD 3.47 Bn in 2024 and is expected to reach USD 4.72 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 4.5% from 2024 to 2031.
Food Flavor Market: The global food flavors market size was valued at US$ 16.90 Billion in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 4.6% from 2023 to 2030.
Food Stabilizers Market: The global food stabilizer market was valued at US$ 9.5 Billion in 2022 and is expected to exhibit a CAGR of 6.90% and market value is expected to reach US$ 16.2 Billion during 2023-2030.
Flavor Enhancer Market: Global Industry Insights, Trends, Outlook and Opportunity Analysis, 2022-2028
About Us:
Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
Contact Us:
Mr. Shah
Senior Client Partner – Business Development
Coherent Market Insights
Phone:
US: +1-206-701-6702
UK: +44-020-8133-4027
Japan: +81-050-5539-1737
India: +91-848-285-0837
Email: [email protected]
Website: https://www.coherentmarketinsights.com
Follow Us: LinkedIn | Twitter
Photo: https://mma.prnewswire.com/media/2454276/Specialty_Food.jpg
Logo: https://mma.prnewswire.com/media/902389/Coherent_Market_Insights_Logo.jpg
SOURCE Coherent Market Insights
