The Specialty Food Ingredients Market Size is likely to grow at a healthy CAGR between 2018-2023, reveals the new Market Research Future (MRFR) report. Food ingredients offer unique flavors, functionalities, nutrients, textures, and color to processed or cooked food products. These ingredients are added for enhancing the flavor and taste of processed food items. Specialty food ingredients are used for various purposes, such as enhance the color of a product or preserve its texture. It has wide applications in functional food/beverages/dietary supplements, meat products, convenience foods, dairy and frozen foods, and bakery and confectionery.
Numerous factors are adding to the Specialty Food Ingredients Market demand. Such factors, as revealed by the latest MRFR report, include a rising preference for taste, growing awareness about food safety and health & wellness, changing dietary habits and lifestyle, consumers increasing purchasing power, need to improve the shelf life of food products, rising acceptance of natural ingredients, and launch of new products. Additional factors adding market growth include burgeoning demand for convenience, growing middle-class population, changing demographics, and rising global population. The increasing popularity of ready-to-eat, easy-to-go beverages, canned and frozen food, confectioneries, and breakfast cereals are also propelling the market growth.
On the contrary, certain health hazards related to food additives, strict regulations, increasing intense research requirements, and high barriers to entry are factors that may limit the Specialty Food Ingredients Market growth over the forecast period.
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The Market Research Future Report provides an inclusive segmental analysis of the Specialty Food Ingredients Market Size based on ingredients and applications.
By ingredients, the Specialty Food Ingredients Market is segmented into F&B starter cultures, enzymes, colors, emulsifiers, preservatives, acidulants, specialty starches, flavors, sugar substitutes, antioxidants, minerals, and vitamins.
By applications, the Specialty Food Ingredients Market is segmented into functional food/beverages/dietary supplements, meat products, convenience foods, dairy and frozen foods, and bakery and confectionery.
By region, the global Specialty Food Ingredients Market covers the growth opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), Latin America, and the Middle East and Africa (MEA). Of these, North America is predicted is to lead the market over the forecast period for the presence of top market players that are involved actively in market growth. Besides, the presence of a rapidly growing F&B sector in the region, coupled with the strict regulations concerning the usage of certain specialty food ingredients and increasing health consciousness, is also adding market growth.
The global Specialty Food Ingredients Market in Europe is predicted to have healthy growth over the forecast period due to healthy eating habits followed by the APAC region. Factors adding to the growth of the Specialty Food industry in the region include increasing urbanization and the burgeoning demand for functional packaged/processed food and convenient food.
The Specialty Food Ingredients Market in Latin America and the MEA is predicted to have notable growth over the forecast period.
Eminent players profiled in the Specialty Food Ingredients Market report include Sensient Technologies, Ashland Inc, Givaudan Flavors, KF Specialty Ingredients, Cargill Inc., E. I. DuPont de Nemours and CompanyNaturex, CHR Hansen, Ingredion Incorporated, PPG Industries, Royal DSM N.V., Ingredion, Evonik, Tate & Lyle PLC, Kerry Groups, Archer Daniel Midland, and Frutarom. Industry players have incorporated several strategies such as extensive research and development activities, mergers and acquisitions, collaborations, joint ventures, new product launches, and strategic alliances to stay head & shoulders above others in the competition and also cater to consumers growing needs.
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