Specialty Food Ingredients Market Research Report - Forecast till 2030

Specialty Food Ingredients Market Research Report: By Ingredients (Vitamins, Minerals, Antioxidants, Sugar Substitutes, Flavors, Specialty Starches, Acidulants, Emulsifiers, Enzymes) and By Application (Bakery & Confectionery, Beverages, Dairy & Frozen foods, Convenience foods, Meat Products, Functional Foods/Beverages/Dietary Supplements)  – Forecast to 2030

ID: MRFR/F-B & N/5145-HCR | January 2023 | Region: Global | 100 Pages         

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Specialty Food Ingredients Market

Specialty Food Ingredients Market is expected to grow at a 8.6% CAGR and reach USD 296.2 billion by 2030.

By Ingredients Vitamins Minerals Antioxidants Sugar Substitutes Flavors Specialty Starches Acidulants Emulsifiers Enzymes
By Application Bakery & Confectionery Beverages Dairy & Frozen foods Convenience foods Meat Products Functional Foods/Beverages/Dietary Supplements
Key Players
Companies Profiled   Archer Daniels Midland Company    Associated British Foods Plc    Cargill Incorporated    DuPont de Nemours Inc    Kerry Group plc
Market Driving Forces   Increasing purchasing power of consumers    High demand for convenience food
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Specialty Food Ingredients Market Overview:

The Specialty Food Ingredients Market is proposed to exceed the USD 296.2 billion Mark at a CAGR of 8.6% in the forecast period ranging from 2022 to 2030.Specialty Food Ingredients Market are substances added to food and beverages that either enhance the taste of a certain food or increase its nutritional value. Specialty Food Ingredients make up an important support system for the food and beverage processing industry. In today’s world, where customers are heavily dependent on convenience foods, food processing with Specialty Food Ingredients has become extremely important. Apart from enhancing the taste and texture of packaged foods, Specialty Food Ingredients also fortify the foods with more nutritional value. For understanding the importance of specialty food ingredients, one has to understand the consumer mentality that drives major trends in the food and beverages industry.

The food and beverages industry are driven by consumer demand. One important aspect of consumer demand in the industry is the experience that customers have. Today, people pay a lot of attention to the taste, texture, and feel of the food. Thus, to enhance these Specialty Food Ingredients are used. People are searching for food that stays fresh for a longer time and has high nutritional value. People today prefer to multitask and eat on the go. Thus, it is the responsibility of the food processing company to provide a good experience even with packaged foods. Therefore, the use of Specialty Food Ingredients has increased.

Moreover, people want to eat less, but something that is packed with wholesome nutrients. The use of Specialty Food Ingredients fortifies the food to give more nutrients per serving. The food and beverages industry has depended on the Global Market for a long time, and the market continues to evolve. Since there is a growth in the packaged foods and RTE meal sector, the Global Market is also set for growth. Moreover, the use of meal replacement supplements like shakes and smoothies also drives Specialty Food Ingredients Market growth.

Covid 19 Impact

Like all other market segments, the Specialty Food Ingredients Market also saw a huge impact of the COVID 19 pandemic on itself. The COVID 19 pandemic caused a disruption in the manufacturing sector, also affecting the Global Market. The immediate effect of the COVID 19 pandemic was a slowdown that brought losses to the sector. However, as people went for more and more packaged and ready-to-eat meals, the Global Market stood at an advantage due to the pandemic.Even after the waves of the pandemic have slowed down, there is still a demand for ready-to-eat meals and fortified foods for people who like to eat on the go. There are multiple industries that depend on the Specialty Food Ingredients Industry. As the Global Market recovers from the impact of the COVID 19 pandemic, Specialty Food Ingredients Market growth will pick up. Moreover, the necessity for high-quality, healthy ingredients in foods is more than ever. Thus, there is a significant opportunity in the post-pandemic phase.

Market Dynamics

Key Drivers

There are many drivers of the Specialty Food Ingredients Market that pave the way for the market’s growth. For example, research and development of food processing technology is a key driver of the Global Market. Food processing is a sector that has been operating for years. However, food processing is a major industry today because food is essential even now. While there was a conviction earlier that food processing leads to the degradation of taste and nutritional value, today, companies are trying to process foods to enhance their taste and nutritional value. Even consumers look for taste of processed food before buying the pack. Nearly 87 percent of customers give priority to taste.  The isolation of organic substances in their purest form and using these as Specialty Food Ingredients is a possibility that can drive growth further in the sector.

Major Opportunities

The development of a busy lifestyle and hectic schedule in today’s population is a significant opportunity for the Specialty Food Ingredients Market. People are juggling work and personal schedules. They are looking for easy-to-eat meals that do not compromise on taste or nutrition. For such people, the food and beverages industry can use Specialty Food Ingredients to create new food and drink categories that provide the right balance of taste and nutrition. The food manufacture and retail sector is a high competition landscape that can be opportunistic for the Global Market.

Market Restraints

However, there are some restraints on the Specialty Food Ingredients Market that affect its growth negatively. For example, the adoption of advanced food technologies has not been completely uniformed in the larger market. There are certain regional markets that are great for the growth of Specialty Food Ingredients Industry size. However, there are some regional Global Market where the penetration of key players is very low.

Market Challenges

The adoption of ready-to-eat meals is also facing a lot of disparity. For example, while cheap ready-to-eat meals provide a desirable taste through Specialty Food Ingredients, most fortified foods with Specialty Food Ingredients are high in price. Thus, the affordability of food items with Specialty Food Ingredients is not universal. The key players of the Market of Specialty Food Ingredients need to make these foods affordable so that the Specialty Food Ingredients Market Size can increase beyond its present boundaries. On the other hand, this will also ensure that people worldwide have access to good quality fortified foods.

Cumulative Growth Analysis

The Specialty Food Ingredients Market Analysis has shown that there are major drivers and opportunities for growth in the sector in the forecast period. Moreover, the challenges can also boost Global Market Growth if resolved properly. The Market Size will see a CAGR of 6 percent in the global Market Forecast period.

Segment Overview

The Specialty Food Ingredients Market Analysis will take industrial segmentation and regional segmentation into consideration for further predictions. TheGlobal Market Revenue divides over different segments depending on different criteria. The Specialty Food Ingredients industry divides on the criteria of ingredients and application. Based on ingredients, enzymes will hold the biggest Global Market share in the sector. The use of emulsifiers and colorants will be the second biggest sector by Global Market share. On the other hand, flavors will grow with the highest rate of CAGR in the Market forecast period.  Similarly, by applications, the largest Specialty Food Ingredients Industry share will go to baking and confectionery.

Regional Analysis

According to Specialty Food Ingredients Market Analysis by region, the major regional markets of the market are North America, Europe, South America, Asia Pacific, Middle East, and Africa. The biggest region by Global Market Revenue is the North American region. The fastest CAGR in the forecast period will be registered by the Asia Pacific region in the case of Global Market revenue. The European market will also show considerable growth in Specialty Food Ingredients Industry Size by the end.

Competitive Landscape

The Specialty Food Ingredients Market Outlook is incomplete without a bird’s eye view of the competitive landscape. The competitors present in Market are as follows

These are the major competitors of the Specialty Food Ingredients Market who influence the growth of the market. Over a period of time, there are many Global Market trends that the key players set inside the business scenario.

Recent Developments

The key players of the Specialty Food Ingredients Market undertake many developments to keep the market growing. Some key players undertake research and development of natural compounds so that new product lines can be established. Other key players take up promotional activities to support the marketing and sales of their products. Often two or more key players become part of a merger or acquisition to improve business prospects.

Report Overview 

The Specialty Food Ingredients Market Outlook is as follows:

  • Market Overview

  • COVID 19 Analysis

  • Market Dynamics

  • Segment Overview

  • Regional Analysis

  • Competitive Landscape

  • Recent Developments

The market research report on Specialty Food Ingredients Market gives a brief overview of present conditions before delving into the factors of growth for the sector as a whole. The forecast report also discusses the impact of COVID 19 on the market to predict future trends. Moreover, the report also discusses the regional and industrial segmentation of the Global Market for a better understanding of future growth prospects. The report discusses the competitive ecosystem of the industry before putting recent developments of the market into view.


Report Scope:

Report Attribute/Metric Details
  Market Size   USD 296.2 Billion
  CAGR   8.6%
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Ingredients, Application, and Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Archer Daniels Midland Company, Associated British Foods Plc, Cargill Incorporated, DuPont de Nemours Inc, Kerry Group plc
  Key Market Opportunities   Development of a busy lifestyle and hectic schedule in today’s population
  Key Market Drivers   Increasing purchasing power of consumers, High demand for convenience food

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Frequently Asked Questions (FAQ) :

The global specialty food ingredients market projects a growth percentage of 8.6 by 2030.

The companies such as Archer Daniels Midland Company, Associated British Foods Plc, Cargill Incorporated, DuPont de Nemours Inc, and Kerry Group plc are dictating the growth trends in the global market.

Bringing uniformity into prices of specialty ingredients to increase their affordability is a challenge for the specialty food ingredients industry companies.

The leading segment of specialty food ingredients by type are enzymes.