Global Specialty Food Ingredients Market expected to grow from USD 37 billion in 2017 to USD 67 billion by 2026, at a CAGR of 6.8% during the forecast period.

BROOKLYN, NY, UNITED STATES, February 6, 2018 /EINPresswire.com/ -- According to a study published by Polaris Market Research, Global Specialty Food Ingredients Market is expected to grow from USD 37 billion in 2017 to USD 67 billion by 2026, at a CAGR of 6.8% during the forecast period.

Specialty food ingredients typically include fibres, additives, specific fats such as Omega 3, enzymes, minerals, specific proteins, vitamins etc. and are present in almost every processed foodstuff. These products naturally enhance texture, act as preservatives, enhance nutritional profile and emulsify colour of processed food stuff. Mounting human population and rising standards of living are expected to be the major driving factors for increasing demand of highly nutritious processed food items. Specialty ingredients are the primary sources responsible for adding such nutritional benefits in foodstuffs and hence food processors have been focusing on research and development of these products for innovation of superior formulations.

Some of the most effervescent trends responsible for driving the market include the rising number of the middle class segment demanding for higher quality of food, growing number of consumer conscious customer segment that ask for more and more ethical, sustainable, transparent food products. Moreover, consumer preferences in high growth economies have lead to innovation of numerous ingredient solutions or formulations from the small scale marker participants, growing demand for personalized food with dietary or health management plans are among the other crucial factors anticipated to be mostly accountable for driving the industry.

These products put in several benefits in various stages of the value chain. From the consumers point of view these add up to better taste, enhance texture, prolonged self life and acts as a healthier option as it helps in reducing toxic elements. For the foodstuff manufacturers these help in speeding up production (i.e. enzyme effect) adding to saving cost and making production easier or simplifying. Moreover from the environmental perspective it adds up to cutting down of raw material quantity, reduce energy uses and reduce waste generation.

The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Specialty Food ingredients Market 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC and South America, and MEA. North America is further segmented into U.S., Canada. Europe is divided into Germany, UK, Italy, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.

Asia Pacific market generated the highest demand in 2017. This was primarily due to the increasing number of food processing companies in China and mainly in the emerging nations of the region such as India, Malaysia, Indonesia, Thailand and Philippines along with a developing food industry in these countries. Chinese specialty ingredient market was the largest contributor to the region’s demand. Techno Food Ingredients, Zhong Ya Chemical (USA) Ltd., Barentz (Shanghai) Commercial and Trading Co., Ltd. Are some of the leading participants in the Chinese industry.

Competitive Landscape and Key Vendors

The global specialty food ingredients market is a fragmented market with the presence of several multinationals, national and small scale players. Raw material availability & its cost, ingredient price, multifunctional quality are some of the factors the industry participants are focused on currently for gaining competitive advantages. Innovation has always been absolutely central for every specialty ingredient manufacturer, with an average spending of approximately 7% of its revenue generated on research & development activities. Regional availability and supply of raw materials along with efficient price labels is a major concern in the industry.

Some of the leading industry participants include Some of the global manufacturers in the market include Cargill Inc., Royal DSM N.V., DuPont, Tate & Lyle, CHR. Hansen Holding A/S, Archer Daniels Midland (ADM), Kerry Group, Ingredion, General Mills, BASF, ABS Food and Givaudan.

Key Segments

Chapter - 1. Product Type

1.1 Functional Ingredients
1.2 Flavors
1.3 Emulsifiers
1.4 Colors
1.5 Enzymes
1.6 Others (Sugar Substitutes, Specialty Starches, Acidulants and F&B Starter Cultures)

Chapter - 2. Application

2.1 Convenience foods
2.2 Confectionery & Bakery food
2.3 Diary food
2.4 Meat & Sea food
2.5 Others

Chapter - 3. Region

3.1 North America

3.1.1 U.S.
3.1.2 Canada

3.2 Europe

3.2.1 Germany
3.2.2 UK
3.2.3 France

3.3 Asia-Pacific

3.3.1 China
3.3.2 India
3.3.3 Japan
3.3.4 Rest of Asia-Pacific

3.4 Latin America

3.4.1 Brazil
3.4.2 Mexico

3.5 Middle East and Africa

Browse other reports by Polaris Market Research:

https://www.polarismarketresearch.com/industry/Food-&-Beverages/

Neel
Polaris Market Research & Consulting
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