Specialty Food Ingredients Market to Expand with Significant CAGR During 2020

Food ingredients provide unique color, textures, nutrients, functionalities and flavors to the cooked or processed food products. Food ingredients are added to enhance taste and flavor to the processed food items. Specialty food ingredients are used by food and beverage industry to enhance taste and flavor to the processed food. Specialty food ingredients are able to meet customer’s demands owing to their unique features including processing aids, coloring, preservation, emulsification and nutritional enhancement. Also, help in enhancing shelf-life, stability and texture of the food products. Specialty food ingredients are majorly sold to food processing industry including large food manufacturing companies as well as medium-sized companies.

On the bases of function of different food ingredients global specialty food ingredients market can be bifurcated into color, acidulants, food enzymes, flavor, food preservatives, food emulsifiers, starches and nutraceuticals. Nutraceuticals has the largest market share for specialty food ingredients, and is expected to dominate the global market in forecasted period. Specialty food ingredients are majorly used by food processing industry. Other major application of specialty food ingredients includes bakery and confectionery, diary, convenience food, meat and seafood products and functional food items.

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North America has the largest market share for specialty food ingredients, followed by Europe and Asia Pacific. North America is expected to dominate the global market in forecasted period owing to increasing consumption of processed food in the U.S. and Canada. Healthy eating habit is expected to boost the European specialty food ingredients market. However, Asia Pacific region is expected to witness highest growth in the coming future. Emerging markets of China, India and Brazil is further expected to boost the global specialty food ingredients market.

Increasing urban population coupled with rising disposable income level is increasing the penetration for packaged and convenience food items, in turn increasing the demand for specialty food ingredients. Additionally, rising rate of diabetes and obesity in both developed and developing countries, prompts the consumer to focus more on healthier lifestyles, in turn demand for health and wellness food ingredients from food and beverage manufacturing companies. This is also driving the global specialty food ingredients market to some extent.

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Changing consumer consumption trends towards health and wellness food products shows increased purchasing power of individual; this is providing ample growth opportunity for the food manufacturing companies to expand their market in healthy food products. Some of the major companies operating in the sodium reduction ingredients market are Cargill Inc., Kerry Group Plc., Cambrian Solutions Inc., Advanced Food Systems Inc., E. I. Dupont De Nemours and Company, Specialty Commodities, Sensient Technologies Corporation, Koninklijke DSM N.V., Ingredion Incorporated and Tate & Lyle.

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