DUBLIN, Jan. 19, 2024 /PRNewswire/ — The “Specialty Food Ingredients Market by Type, Source, Application – Global Forecast to 2030” report has been added to ResearchAndMarkets.com’s offering.
The global specialty food ingredients market is projected to reach $250.44 billion by 2030, at a CAGR of 5.6% during the forecast period of 2023-2030. In terms of volume, the specialty food ingredients market is projected to reach 79,704.9 KT by 2030, at a CAGR of 4.5% during the forecast period of 2023-2030.
The growth of the specialty food ingredients market is driven by the consumers’ changing preferences, driving the demand for specialty ingredients in the food & beverage sector, growing health consciousness among consumers, the growing adoption of convenience foods, and increasing partnerships and distribution agreements among specialty food ingredients manufacturers.
However, specialty food ingredients’ short shelf life and low stability hamper the growth of this market to some extent. New product launches and technological innovations in the specialty food ingredients space are expected to provide market growth opportunities for the stakeholders operating in this market. Moreover, the growing demand for natural, organic, and clean-label ingredients is a prominent trend in the specialty food ingredients market.
Asia-Pacific is slated to register the highest CAGR during the forecast period of 2023-2030. The growth of this regional market is driven by the emerging trend of healthy food, rising demand for packaged food, rapid urbanization, rising awareness about the health benefits of products containing natural ingredients, and a growing diabetic and obese population in the region.
The key players operating in the global specialty food ingredients market are 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.).
In 2023, the proteins & amino acids segment is expected to account for the largest share of the global specialty food ingredients market.
The large market share of this segment is attributed to the growing demand for a protein-rich diet, growing health and wellness, and the rising demand for plant-based protein from the growing vegan population. Further, proteins and amino acids are crucial for the proper functioning and structure of the body. A varied and balanced diet with adequate protein sources can help ensure the body receives the amino acids necessary to support its physiological processes.
The natural specialty food ingredients segment is projected to register a higher CAGR during the forecast period of 2023-2030.
The growth of this segment is driven by the increasing awareness about sustainable sourcing and advancements in food technology, the growing popularity of clean-label products, increasing demand for organic food products, and rising awareness about the health hazards associated with synthetic food ingredients.
In 2023, the food segment is expected to account for a larger share of the global 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.
In 2023, the bakery and confectionery segment is expected to account for the largest share of the global specialty food ingredients market.
The growth of this segment is driven by factors such as the increasing innovations in confectionery applications, rising health consciousness, and the rising demand for convenience foods due to busy schedules and high disposable incomes.
Key Questions Answered in the Report:
- What are the historical market sizes, volume, and growth rates of the global specialty food ingredients market?
- At what rate is the global specialty food ingredients demand projected to grow for the next 5-7 years?
- What are the major factors impacting the growth of this market at the regional and country levels? What are the major opportunities for existing players and new entrants in the market?
- Which segments, in terms of type, source, and application, are expected to create major traction for the manufacturers in this market during the forecast period of 2023-2030?
- What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the global specialty food ingredients market during the forecast period of 2023-2030?
- Who are the major players in the global specialty food ingredients market? What are their specific product offerings in this market?
- What are the recent strategic developments in the global specialty food ingredients market? What are the impacts of these strategic developments on the market?
Market Insights
Factors Affecting Market Growth
- Consumers’ Changing Preferences Driving the Demand for Specialty Ingredients in the Food & Beverage Sector
- Growing Health Consciousness Among Consumers Supporting Market Growth
- Growing Adoption of Convenience Foods Driving the Utilization of Specialty Food Ingredients
- Partnerships and Distribution Agreements Among Specialty Food Ingredients Manufacturers Accelerating Market Expansion
- Specialty Food Ingredients’ Short Shelf Life and Low Stability Impacting F&B Manufacturing and Product Quality
- New Product Launches and Technological Innovations Generating Growth Opportunities for Market Players
Trends
- Demand for Natural, Organic, and Clean-Label Ingredients Gaining Momentum in the Specialty Food Ingredients Market
Company Profiles (Company Overview, Financial Overview, Product Portfolio, and Strategic Developments)
- Archer-Daniels-Midland Company
- Ashland Inc.
- Associated British Foods plc
- BASF SE
- Cargill, Incorporated
- Chr. Hansen Holding A/S
- Givaudan SA
- Ingredion Incorporated
- Kerry Group plc
- Koninklijke DSM N.V.
- Tate & Lyle PLC
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
- U.S.
- Canada
- 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
For more information about this report visit https://www.researchandmarkets.com/r/f0hi7j
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