Meticulous Research®—a leading global market research company, published a research report titled ‘Specialty Food Ingredients Market Size, Share, Forecast, & Trends Analysis by Type (Proteins and Amino Acids, Enzymes, Flavors, Starter Cultures), Source (Natural), Application (Food {Bakery & Confectionery}, Beverages {Alcoholic}) - Global Forecast to 2031.’
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According to this latest publication from Meticulous Research®, in terms of value, the global specialty food ingredients market is projected to reach $266.20 billion by 2031, at a CAGR of 5.8% during the forecast period of 2024–2031. In terms of volume, this global specialty food ingredients market is projected to reach 83,936.1 KT by 2031, at a CAGR of 4.6% during the forecast period of 2024–2031. Consumers’ changing preferences driving the demand for specialty ingredients in the food & beverage sector, growing health consciousness among consumers, the growing adoption of convenience foods, and increasing partnerships and distribution agreements among specialty food ingredients manufacturers are some of the factors driving the growth of this market. However, specialty food ingredients’ short shelf life and low stability hinder the growth of this market to some extent. New product launches and technological innovations in the specialty food ingredients space are expected to provide market growth opportunities for the stakeholders operating in this market. Moreover, the growing demand for natural, organic, and clean-label ingredients is a prominent trend in the specialty food ingredients market.
Key Players
The key players operating in the specialty food ingredients market are Archer-Daniels-Midland Company (U.S.), Ashland Inc. (U.S.), Associated British Foods plc (U.K.), BASF SE (Germany), Cargill, Incorporated (U.S.), Chr. Hansen Holding A/S (Denmark), Givaudan SA (Switzerland), Ingredion Incorporated (U.S.), Kerry Group plc (Ireland), Koninklijke DSM N.V. (Netherlands), and Tate & Lyle PLC (U.K.).
The specialty food ingredients market is segmented by type (proteins & amino acids, flavors, hydrocolloids, specialty starches, vitamins, minerals, prebiotics, probiotics, enzymes, emulsifiers, colorants, acidulants, sweeteners, starter cultures, essential oils, omega-3 fatty acids, carotenoids, preservatives, and other food ingredients), by source (natural specialty food ingredients and artificial specialty food ingredients), by application (food {bakery & confectionery, dairy products, sauces, dressings, and condiments, snacks, breakfast cereals, meat, poultry & seafood, infant food, and other food applications}, beverage [non-alcoholic beverages {carbonated soft drinks, dairy-based beverages, sports and energy drinks, iced tea, and other beverages}, alcoholic beverages]), and by geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The study also evaluates industry competitors and analyses the regional and country-level markets.
Based on type, the specialty food ingredients market is segmented into proteins & amino acids, flavors, hydrocolloids, specialty starches, vitamins, minerals, prebiotics, probiotics, enzymes, emulsifiers, colorants, acidulants, sweeteners, starter cultures, essential oils, omega-3 fatty acids, carotenoids, preservatives, and other food ingredients. In 2024, the proteins & amino acids segment is expected to account for the largest share of 19.3% of the specialty food ingredients market. The large market share of this segment is attributed to the growing demand for a protein-rich diet, growing health and wellness, and the rising demand for plant-based protein from the growing vegan population. Further, proteins and amino acids are crucial for the proper functioning and structure of the body. A varied and balanced diet with adequate protein sources can help ensure the body receives the amino acids necessary to support its physiological processes.
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Based on source, the specialty food ingredients market is segmented into natural specialty food ingredients and artificial specialty food ingredients. The natural specialty food ingredients segment is projected to register a higher CAGR of 6.3% during the forecast period of 2024–2031. The growth of this segment is driven by the growing awareness about sustainable sourcing and advancements in food technology, the rising popularity of clean-label products, increasing demand for organic food products, and increasing awareness about the health hazards associated with synthetic food ingredients.
Based on application, the specialty food ingredients market is segmented into food and beverages. In 2024, the food segment is expected to account for a larger share of 73.3% of the specialty food ingredients market. The large market share of this segment is attributed to changing consumer lifestyles and the rising preference for convenience food. Additionally, the increasing health awareness among consumers is steadily causing a shift towards safer and healthier foods, which is further expected to boost the demand for specialty food ingredients. Also, this segment is further segmented into bakery and confectionery; dairy products; sauces, dressings, and condiments; snacks; breakfast cereals; meat, poultry, and seafood; infant food; and other food applications. In 2024, the bakery and confectionery segment is expected to account for the largest share of the global specialty food ingredients market. The growth of this segment is driven by factors such as the rising health consciousness, increasing innovations in confectionery applications, and the rising demand for convenience foods due to busy schedules and high disposable incomes.
Based on geography, the specialty food ingredients market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is slated to register the highest CAGR of 6.5% during the forecast period of 2024–2031. The growth of this regional market is driven by the rising demand for packaged food, rapid urbanization, the emerging trend of healthy food, rising awareness about the health benefits of products containing natural ingredients, and a growing diabetic and obese population in the region.
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Key Questions Answered in the Report:
• What are the historical market sizes, volume, and growth rates of the global specialty food ingredients market?
• At what rate is the global specialty food ingredients demand projected to grow for the next 5–7 years?
• What are the major factors impacting the growth of this market at the regional and country levels? What are the major opportunities for existing players and new entrants in the market?
• Which segments, in terms of type, source, and application, are expected to create major traction for the manufacturers in this market during the forecast period of 2024–2031?
• What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the global specialty food ingredients market during the forecast period of 2024–2031?
• Who are the major players in the global specialty food ingredients market? What are their specific product offerings in this market?
• What are the recent strategic developments in the global specialty food ingredients market? What are the
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