Growth at a CAGR of 6.31% in the Specialty Food Ingredient Market during the forecast period of 2018-2023| Major Players- INGREDION, CARGILL Inc., DUPONT, TATE AND LYLE, KERRY GROUP, ROYAL DSM, SENSIENT TECHNOLOGIES, GIVAUDAN, ARCHER DANIELS MIDLAND, BASF

Market Analysis:

North America Holds the Major Market Share
The market for specialty food ingredients in North America is driven by rising rates of diabetes and obesity, which is warning consumers to focus on healthier lifestyles, and thus, fueling the demand for specialty food ingredients. And the growing GDP are likely to drive the demand for specialty ingredients across the region.

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Owing to changing lifestyles and increasing purchasing power of consumers, the demand for convenience foods is soaring. Several functional advantages of specialty ingredients are influencing the market’s growth. Consumers are more aware of label claims and ingredient lists and their nutrition profiles. People are taking proactive participation to enhance health and fitness in everyday life. This trend has been driving the demand for specialty food ingredients. The consumption rate of sweet and savory snacks is expected to rise by the launch of new specialty flavors and healthier innovations. The most successful confectionery options were those featuring new, exotic flavors, and were healthy. Chips and crisps, followed by fruit and nut mixes, were the most preferred ones.

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Market Segments:
Specialty Food Ingredient Market is segmented by:
1. Type: Preservative, Functional Food Ingredient (Vitamin & Mineral, Proteins & Amino Acid, Omega 3 PUFA, Prebiotic & Probiotic, Botanical, Others), Speciality Starch, Sweetener, Flavor, Acidulant, Emulsifier, Color, Enzyme, Culture, Protein, Specialty Oil, Yeast, Texturant
2. Application: Beverages, Sauces, Dressings, and Condiments, Bakery, Dairy, Confectionery, Dried Processed Food, Frozen/Chilled Processed Food, Sweet and Savory Snacks, Others
3. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments
• March 2017: DuPont will acquired substantially all of FMC Corp.’s Health & Nutrition business while FMC Corp. FMC’s Health & Nutrition business consists of two main segments of texturants as food ingredients and pharmaceutical excipients.
• November 2017: Tate & Lyle focuses on three areas for North American growth in specialty ingredients. The first is to increase the market share with larger and existing customers, The second area is expanding the company’s presence in faster-growing customer channels, The third is to focus on those higher growth sub-categories.

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