Specialty Food Ingredients Market Forecast 2018-2024 Global Players – DuPont, Cargill, BASF ABS Food, Kerry Group.
The specialty food ingredient sector has outperformed other wider sectors of the food & beverage industry. This is due to the shift in dynamics within the food & beverage industry such as the changing consumer demands for more organic, natural and highly nutritious processed foodstuffs.
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Several studies have shown that the relationship between the specialty ingredients and processed food industry are evolving due to higher levels of collaborative innovation and product developments to fulfill stringent regulations and new consumer trends. A larger share of the value chain has been dominated by a relatively smaller number of ingredient suppliers, thus creating valuation and margin opportunities globally.
Market Size and Forecast by End-Use Type
• Key findings
• Convenience Foods
• Confectionery & Bakery Food
• Diary Food
• Meat & Sea Food
Key Findings from the study suggest that the largest share of the market in 2017 was of the Asia Pacific region. The region has been a substantially influential market in supply of these products to the other regions. China is one of the largest industries in the Asia Pacific and also globally with presence of an extensively diverse ingredient manufacturing sector with over hundreds of multinational and national players currently operating in the country.
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Some of the imperative factors for the higher growth of the regional industry include the increasing spending power, burgeoning economies, presence of a youthful population, growing westernization of FMCG market, increasing urbanization and a mounting interest in health and wellness among the consumers. North America is another significant market, which is home to most of the leading multinational ingredient manufacturers. The U.S. is the largest producer of these products in the region with over 85% of the companies concentrated in the country.
1. Du Pont
2. Cargill Inc.
3. Royal DSM N.V.
4. Archer Daniels Midland Co.
5. Kerry Group PLC
6. Givaudan Flavors
8. Eli Fried Inc.
9. Ingredion Incorporated
10. Tate & Lyle PLC
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