DUBLIN--(BUSINESS WIRE)--The "Specialty Food Ingredients Market by Type (Acidulant, Colors, Flavors, Enzymes, Emulsifiers, F&B Starter Culture, Preservatives, Functional Food Ingredients, Specialty Starches, Sugar Substitutes), Distribution Channel - Global Forecasts to 2025" report has been added to ResearchAndMarkets.com's offering.
The global specialty food ingredients market size is estimated to be valued at USD 134.7 billion in 2020 and projected to reach USD 178.3 billion by 2025, recording a CAGR 5.8%.
Factors such as the growing concern of clean label food and healthy consumption is going to drive the market for specialty food ingredients.
By type, the functional food ingredient is projected to dominate the market during the forecast period.
Functional food ingredients are used to enhance certain physiological functions such as improve gastrointestinal health, reduce cholesterol levels, prevent dental caries, and improve bone & and gut health to prevent or cure various diseases. Regular consumption of functional food ingredients reduces the risk of several chronic diseases such as cardiovascular diseases, cancer, diabetes, high blood pressure, rickets, and osteoporosis. Therefore, it is high in demand in both developed and developing economies and thereby dominating the market.
By type, the acidulant is projected to grow at the highest CAGR during the forecast period.
These products provide pleasant taste and function as a flavor masking agent to avoid the after taste effect of other acids, fibers, vitamins, and antioxidants. The introduction of a variety of value-added products and an increase in functional beverages are some of the key factors driving the demand for acidulants in food & beverage applications. The wide functionality of various acidulants, such as fumaric acid and lactic acid, is creating a rise in demand for food acidulants.
The Asia Pacific region is projected to grow at the highest CAGR during the forecast period.
Owing to the large production of sugar, enzymes, dairy and various other specialty food ingredients are on of the reasons for the fastest growing market in Asia Pacific. Presence of a large number of local players and increase in the purchasing capacity of the consumers is also one of the driving factors. Higher production capabilities, availability of raw materials, government initiatives, and cheap labor are some of the major reasons for the shifting of manufacturing operations from developed economies to the developing regions of Asia Pacific market.
The specialty food ingredients market is segmented region-wise, with a detailed analysis of each region. These regions include Asia Pacific, North America, Europe, South America, and RoW (Africa, the Middle East, and Others in Soth America).
Market Dynamics
Drivers
- Growth in Demand for Fortified Food Owing to Rising Health Awareness
- Shift in Consumer Preferences for Food & Beverages
- Increase in Government Support in Major Economies
- Consumer Demand for Nutrition and Taste Convergence
Restraints
- High Cost and Limited Availability of Raw Materials
- Use of Artificial/Synthetic Ingredients in Various Applications Resulting in Health Hazards
- Increase in Instances of Allergies and Intolerances Related to Few Ingredients
Opportunities
- Rise in Number of End-Use Applications
- Product-Based and Technological Innovations in the Ingredient Industry
- Emerging Economies to Present High-Growth Opportunities Due to Growing Food Processing Investments
Challenges
- Lack of Consistency in Regulations Pertaining to Various Ingredients
- Consumer Inclination Toward Natural Ingredients to Create Challenges for the Growth of Synthetic Ingredients
- Threat of Substitutes
- Growth in Pressure on Global Resources and a Need to Tap New Raw Materials
Companies Profiled
- Cargill
- Adm
- DSM
- Kerry
- Dupont
- Givaudan
- Ingredion
- Sensient
- Tate & Lyle
- Chr. Hansen
- Amano Enzyme
- Biocatalysts
- Enzyme Supplies
- Omega Protein
- Amco Proteins
- Axiom Foods
- Nutriati
- Fdl Ltd
- Crespel & Deiters
- Aminola
For more information about this report visit https://www.researchandmarkets.com/r/1pi5ap
