USD 148.9 billion
Global Specialty Food Ingredients Market Size, Share, Growth Analysis, By Application(Beverages, Sauces), By Product(Functional Food Ingredients, Specialty Starch and Texturants) - Industry Forecast 2024-2031
Report ID:
SQMIG30H2082 |
Region:
Global |
Published Date: April, 2024
Pages:
198
|
Tables:
81 |
Figures:
76
Global Specialty Food Ingredients Market Insights
Global Specialty Food Ingredients Market size was valued at USD 148.9 billion in 2022 and is poised to grow from USD 157.24 billion in 2023 to USD 243.15 billion by 2031, growing at a CAGR of 5.6% during the forecast period (2024-2031).
Specialty Food Ingredients are becoming popular since It has many benefits, typically to preserve texture, emulsified color health processing and improve nutritional profile to processed foods.With each growing day, the consumer demands are varying and evolving.This buried an evolved consumer demand leads to the certain trends, such as they demand for the food ingredients which are gulf less sugar, fat and salt deliver more fiber and their fortified with health supporting ingredients. Therefore, to fulfill this food demand, innovation with ingredients, solutions and technological expertise will lead the growth of specialty food ingredients.
Along with health benefits and calorie reduction consumers are looking for sustainability and fairness.To fulfill the needs of consumers, the product must be sourced and manufactured in a sustainable way and should have a transparent value chain along with it. It should also contribute to introducing food waste and to a circular economy.
US Specialty Food Ingredients Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Sensory
Fastest Growth
Functional
Growth Rate
5.6% CAGR
Global Specialty Food Ingredients Market ($ Bn)
Country Share for Asia Pacific Region (%)
Global Specialty Food Ingredients Market Size By Product ($ Bn)
Global Specialty Food Ingredients Market Size By Product (%)
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Global Specialty Food Ingredients Market Segmental Analysis
Global Specialty Food Ingredients market is segmented on the basis of application, product, and region. By Product, the market is segmented into Functional Food Ingredients, Specialty Starch and Texturants, Sweeteners, Flavors, Acidulants, Preservatives, Emulsifiers, Colorants, Enzymes, Culture, Proteins, Specialty Oils, and Yeast. By application, the Specialty Food Ingredients Market is segmented into Beverages, Sauces, Dressings, and Condiments, Bakery, Dairy, Confectionery, Dried Processed Food, Frozen/Chilled Processed Food, Sweet and Savory Snacks, and Other Applications. By region, the Specialty Food Ingredients Market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Specialty Food Ingredients Market Analysis by Application
By application, the global market is divided into many segments such as Beverages, Sauces, Dressings, and Condiments, Bakery, Dairy, Confectionery, Dried Processed foods, Frozen/Chilled Processed foods, Sweet and Savory Snacks, and Other Applications. Food and Beverage industry held largest global Specialty Food Ingredients market share due to the wide range of benefits provided by Specialty Food Ingredients in it.The demand for process forced manufacturing sector is increasing day by day due to the changing consumer lifestyle and food preference.The busy lifestyles and other aspects has led to the increasing health problems among the consumers due to unhealthy food consumption, there will be the rise in specialty food ingredients category.
Specialty Food Ingredients Market Analysis by Product
By Product, the Specialty Food Ingredients market is classified into Functional Food Ingredients, Specialty Starch and Texturants, Sweeteners, Flavors, Acidulants, Preservatives, Emulsifiers, Colorants, Enzymes, Culture, Proteins, Specialty Oils, and Yeast . The sensory food segment is one of the main reasons for innovation and growth across all technology industries including the global market.Therefore, it accounts for the largest revenue share.To enhance the test smile, flavour and texture of food products, sensory special food ingredients are vital.In packaged and convenience foodstuffs, the demand of the products which are providing this quality is are increasingly therefore, the specialty food ingredients sector is expected to grow in future.
Global Specialty Food Ingredients Market Size By Product (%), 2023 (%)
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Global Specialty Food Ingredients Market Regional Insights
Globally, Asia Pacific is estimated to hold the highest Specialty Food Ingredients market share. Main factors during this growth period are the presence of top market players and increasing popularity of special food ingredients. Increasing population in countries like China and India all anticipate the growth of the market.
Above all, North America is expected to grow steadily compared to APAC during the forecast period. The reason for the same is increasing acquisition of Specialty Food Ingredients in the region of North America and mainly in the US and Canada.
Global Specialty Food Ingredients Market By Geography, 2024-2031
- Largest
- Fastest
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Global Specialty Food Ingredients Market Dynamics
Specialty Food Ingredients Market Drivers
Increasing Health Awareness to Bolster Market Growth
- Speciality food ingredients is a cost effective strategy to provide consumers with proper food with demonstrated health, economic and social benefits.Along with rising population, consumers are becoming more aware about the quality of the food and nutrition its provide.Along with health benefits and calorie reduction consumers are looking for sustainability and fairness.To fulfill the needs of consumers, the product must be sourced and manufactured in a sustainable way and should have a transparent value chain along with it. It should also contribute to introducing food waste and to a circular economy.In today's working schedule, the population all across the globe looks for convenience.These key factors of health benefits, convenience and sustainability will help the specialty food ingredient markets to propel in future.
Specialty Food Ingredients Market Restraints
Concerns related to Artificial Additives to Hinder Market Growth
- Artificial and synthetic additives and ingredients are used in several applications of specialty food ingredients. Several from across the groove are benzaldehyde compounds in flavors containing hydrogen cyanide, which can have a major impact on the central nervous system, causing depression and convulsions. Hey. The growing children would have adverse effects of synthetic and artificial additive ingredients, which is proved by several scientific evidence. To prepare bright and colorful food ingredients, synthetic and artificial food colors are used which attracts a large amount of young audience and can have several impacts on their health.These increasing use of artificial and synthetic additives can hinder the growth of the market.
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Global Specialty Food Ingredients Market Competitive Landscape
Competition in the global Specialty Food Ingredients market is expected to increase during the forecast period because new players are expected to enter in the global market and the number of ingredients compatible with Specialty Food Ingredients will also increase. Currently, only a few key players are providing their services in the global market but these numbers will increase in the upcoming years.
Specialty Food Ingredients Market Top Player’s Company Profiles
- Archer Daniels Midland (ADM)
- Cargill
- DuPont de Nemours, Inc.
- Ingredion Incorporated
- Kerry Group plc
- Tate & Lyle PLC
- Corbion N.V.
- DSM Nutritional Products
- Givaudan
- Chr. Hansen Holding A/S
- Sensient Technologies Corporation
- BASF SE
- Ashland Global Holdings Inc.
- Koninklijke DSM N.V.
- Novozymes A/S
- International Flavors & Fragrances Inc.
- Ajinomoto Co. Inc.
- Lonza Group Ltd.
- Firmenich SA
- Symrise AG
Specialty Food Ingredients Market Recent Developments
- In April 2022, ofi, a global leader in naturally good food & beverage ingredients, today announced the acquisition of Club Coffee L.P. (“Club Coffee"), one of Canada’s largest roasters of packaged coffee to the ‘At Home’ segment. The transaction is expected to complete in Q2 2022, subject to regulatory approval and other conditions.
Global Specialty Food Ingredients Key Market Trends
- To create the sustainable future of specialty food ingredients, the demand of natural colorant has increased exponentially.Therefore, looking at this trend,the major firms in specialty food ingredient returning towards the natural colourant.Several SME are reluctant about involving natural colors to their process because of high cost and lack of availability of raw materials.
Global Specialty Food Ingredients Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global Specialty Food Ingredients market analysis, the global market is estimated to have significant growth during the forecast period because of the benefits it consists of such as health benefits, sustainability,and convenience. Specialty Food Ingredients will enable food products and cooking processes to be more convenient for their users. The market has so much potential for new players also because of the high expected rate of growth and demand.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 148.9 billion |
| Market size value in 2031 | USD 243.15 billion |
| Growth Rate | 5.6% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
Specialty Food Ingredients Market Recent Developments
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Specialty Food Ingredients Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Specialty Food Ingredients Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Specialty Food Ingredients Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Specialty Food Ingredients Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Specialty Food Ingredients Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Specialty Food Ingredients Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Specialty Food Ingredients Market Report Snapshots
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