Northbrook, IL 60062 -- (SBWIRE) -- 08/16/2022 -- The global specialty food ingredients market is estimated to be valued at USD 148.2 billion in 2022. It is projected to reach USD 196.2 billion by 2027, recording a CAGR of 5.8% during the forecast period.

Specialty food ingredients constitute distinct functional food ingredients, sugar substitutes, flavors, specialty starches, acidulants, food preservatives, food emulsifiers, colors, food & beverage enzymes, and F&B starter culture. They help improve the texture, increase shelf life, and preserve product properties and increase the nutrition value and appeal of the product.

Download PDF Brochure

They also find applications in food products such as jams, jellies, bakery premixes, dairy products, meat & dairy substitutes, pharmaceutical products, and products for personal & cosmetic uses. The demand for high-quality food products has driven the application of specialty food ingredients in food systems. Manufacturers are demanding specialty food ingredients with a variety of food products in the market scenario.

Drivers: Due to rising health awareness there is increasing trend in consumption of fortified food.

Food fortification is a cost-effective strategy with demonstrated health, economic and social benefits. The global demand for fortified food is expanding at a robust pace. In 2008 and 2012, the Copenhagen Consensus ranked food fortification as one of the most cost-effective development priorities The rising consumer awareness regarding food ingredients and nutrition is also attributed to the COVID-19 outbreak, which will drive the specialty food ingredients market. In 2019, the International Food Information Council Foundation (IFICF) conducted surveys on labeling requirements for consumers of food & beverages.

Multinational food companies are taking various steps for food fortification to address nutritional deficiencies in the Asia Pacific and global markets. Companies such as Nestlé and Unilever have taken a partnership approach to add both micro and macronutrients in their food products. Nestlé (Switzerland) underwent a partnership with the HarvestPlus program (biofortification) and agricultural research partners in India for the fortification of its products, such as cereals, to address nutrient deficiencies.

The North American Specialty Food Ingredient Market is Fairly Matured, Hence the Growth is Moderate Compared to Other Region.

The specialty food ingredients market comprises of acidulant market, color market, food flavor market, enzymes market, emulsifiers market, f&b starter cultures market, preservatives market, functional food ingredients market, specialty starch market, and sugar substitutes market. The North American market for sugar substitutes is fairly matured, and hence, the growth is moderate compared to other regions. The sugar substitutes market is consolidated in North America and mainly dominated by a few companies, such as Tate & Lyle (UK) and Cargill Inc. (US).

Make an Inquiry

The key players in this market include Cargill Incorporated (US), ADM (US), DuPont (US), Ingredion (US), Kerry Group (Ireland), DSM (Netherlands), Chr. Hansen (Denmark), Sensient technology corporation (US), Tate & Lyle (UK), Givaudan (Switzerland), Biocatalysts (UK), Omega Protein (US), Enzyme Supplies (UK), FDL Ltd (UK), Nutriati (US), Crespel & Dieters (Germany), Axiom Food (US), Amano Enzymes (Japan), Amco proteins (US), and Aminola (Netherlands).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441