A recent report published by Infinium Global Research on specialty food ingredients market provides an in-depth analysis of segments and sub-segments in the global as well as regional specialty food ingredients market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional specialty food ingredients market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global specialty food ingredients market. According to the report, the global specialty food ingredients market is projected to grow at a CAGR of 6.50% over the forecast period of 2018-2024.
Specialty food ingredients are used by the food and beverage industry to enhance taste and flavor to the processed food. Specialty food ingredients typically preserve, texture, emulsify, color, help to process and add an extra health dimension to produced food. The use of specialty food ingredients, combined with food technology, has made possible the large scale preparation of good wholesome food at economical prices.
Increasing urbanization and growing consumer preference for processed foods drive the growth of the specialty food ingredients market. Similarly, rising consumption of processed food and changing lifestyles across developing economies. Moreover, rapidly expanding end-use industries including bakery & confectionery, functional foods, and beverages are strengthening the growth of the specialty food ingredients market. The growing trend of incorporating antioxidants and vitamins in edible oils and other food supplements in order to enhance the nutritional value of food items is anticipated to upsurge the growth of the specialty food ingredients market. However, lack of awareness among the developing countries is likely to hamper the growth of the specialty food ingredients market. Furthermore, the growing the trend of incorporating antioxidants and vitamins in edible oils and other food supplements, in order to enhance the nutritional value of food items, are anticipated to create several growth opportunities for the key players in the specialty food ingredients market.
Among the geographies, North America dominated the specialty food ingredients market. The growth in the North American region is due to the increasing rate of diabetes and obesity, which is warning consumers to focus on healthier lifestyles. Moreover, Vigorous eating pattern is expected to boost the European specialty food ingredients market. The specialty food ingredients companies in Europe are primarily investing in Research and Development activities to develop innovative specialty ingredients.
The report on global specialty food ingredients market covers segments such as product type and applications. On the basis of product type, the sub-markets include functional food ingredient, sweeteners, acidulants, emulsifiers, colors, protein, specialty oil, enzymes, flavors, specialty starch, preservatives, and others (yeast, texturants, protein, cultures). On the basis of applications, the sub-markets include bakery and confectionery, beverages, convenience foods, dairy and frozen foods, functional foods, dietary supplements, oils and fats, and others.
The report provides profiles of the companies in the market such as International Flavors & Fragrances Inc, KF Specialty Ingredients, Ingredion Incorporated, Kerry Group plc, Archer Daniels Midland Company, Koninklijke DSM N.V., WILD Flavors, Inc., Ashland Global Holdings Inc., Agropur Dairy Cooperative, and Givaudan SA.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of specialty food ingredients market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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