Specialty Food Ingredients Market Leading Segments and their Growth Drivers 2020-2026

New York, NY 10 July 2020: According to a new study published by Polaris Market Research the global specialty food ingredients marketis anticipated to reach USD 67.76 billion by 2026.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. 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.

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These products also add to higher sustainability during processing of food, apart from offering their conventional functions for the food stuff. The components help to increase efficiency in food processing by limiting the quantity of raw material requirements and making the optimum use of it. Moreover, with their nutritional, technological and health related functions these product also offer other advantages such as enhancement of taste, higher food safety, and extended food choices and affordability. These factors have been crucial in considering specialty ingredients an integral part of the food supply and hence demand of these micro and macro constituents of food is expected to surge substantially in the immediate future. Also, the food industry being a innovation driven,

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. 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 US is the largest producer of these products in the region with over 85% of the companies concentrated in the country.

Some of the major players profiled in the Specialty Food Ingredients Market study include:

I. Du Pont De Nemours and Company

Cargill Inc.

Royal DSM NV

Naturex

Ingredion Inc.

Archer Daniels Midland Co.

Kerry Group PLC

Polaris Market research has segmented the Specialty Food Ingredients Market report on the basis of type, end-use type and region

Specialty Food Ingredients Market Size and Forecast by Product Type

Functional Ingredients

Flavors

Emulsifiers

Colors

Enzymes

Others

Specialty Food Ingredients Market Size and Forecast by End-Use Type

Convenience Foods

Confectionery & Bakery Food

Diary Food

Meat & Sea Food

Others

Specialty Food Ingredients Market Size and Forecast by Regions

North America

US.

Canada

Europe

UK

France

Germany

Italy

Asia Pacific

India

Japan

China

Latin America

Mexico

Brazil

MEA

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