DUBLIN--(BUSINESS WIRE)--The "Global 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, and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global specialty food ingredients market is estimated to be valued at USD 148.2 billion in 2022. It is projected to reach USD 196.2 billion by 2027, recording a CAGR of 5.8% during the forecast period.
The rise of the UK's organized retail sector has triggered the demand for packaged and ready-to-eat meals
The UK, Germany, France, Spain, Italy, and Russia are among the established markets for food acidulants in Europe. The increase in concerns regarding food preservation and the functional benefits offered by acidulants to preserve food for a prolonged period are the key factors that are projected to support the market growth in Europe.
The use of acidulants, such as lactic acid, is approved as an 'extra' safety tool to reduce and trace microbial contamination on bovine carcasses by the European commission is projected to support the usage of such food acidulants. The increase in demand for convenience food products due to the busier lifestyle in European countries is the key factors that are projected to drive the growth of the acidulants market in the region.
An increase in population, a rise in demand for convenience food products, and a surge in disposable income are the key driving factors for the growth of dairy industry
Dairy products include milk-based products such as butter, cheese, flavored milk, and yogurt. This market is a potential growth sector for natural food flavors. Flavors enhance the taste of dairy products such as cheese, yogurt, and flavored milk. Antioxidant-rich berries, super-powders, teas, medicinal mushrooms, and components with healthy fats are among the popular flavors. The production of pure organic dairy products is now possible due to natural and certified organic flavors. Certified flavors play an important role in dairy products.
However, the stabilities of certified flavors during their application are where the challenge lies for manufacturers. The dairy industry is also seeing an increase in the demand for functional additives and clean-label flavors. This was always well-known, but the pandemic has made it much more so. Many people want to buy clean-label items that are free of artificial flavors and colorings.
The growth of the dairy industry and increasing awareness about the quality of bakery, processed food and dairy products drive the demand for food emulsifiers in the region
Brazil and Argentina are the major markets for food emulsifiers in South America, due to the increasing consumption of bakery and dairy products and export opportunities, particularly in the rapidly growing European market. The increase in the production of dairy products in Brazil, due to the increasing middle-class population, has led to a surge in demand for improved quality food.
The rising demand for food emulsifiers in Argentina is attributable to the rising disposable income, increasing awareness about better-quality products, and high demand for healthy foods in the country. Increasing demand for packaged and processed food in Argentina drives the food emulsifiers market in the country. The market in Rest of South America is projected to grow at a steady pace in the coming years as countries are witnessing a growing base of food processing units for the production of various food products, including bakery, confectionery, and dairy products.
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
Company Profiles
- Cargill, Incorporated
- ADM
- DSM
- Kerry Group
- DuPont
- Givaudan
- Ingredion
- Sensient Technologies Corporation
- Tate & Lyle
- Chr. Hansen
- Amano Enzymes
- Biocatalysts
- Enzyme Supplies
- Omega Protein
- Amco Protein
- Axiom Foods
- Nutriati
- FDL Ltd.
- Crespel & Deiters
- Aminola
For more information about this report visit https://www.researchandmarkets.com/r/59go7l.
