Asia Pacific Specialty Food Ingredients Market

Asia Pacific Specialty Food Ingredients Market Growth and Forecast (2023 - 2028):

The Asia Pacific Specialty Food Ingredients Market size has been estimated at USD 12.67 Billion in 2022 and is projected to reach USD 17.69 Billion by 2028, at a CAGR of 6.9% during the forecast period from 2023 to 2028.

Market Overview:

Specialty Food ingredients provide unique color, textures, nutrients, functionalities and flavors to the cooked or processed food products. They are added to enhance taste and flavor to the processed food items. Specialty food ingredients are able to meet customer’s demands owing to their unique features including processing aids, coloring, preservation, emulsification and nutritional enhancement.

Drivers and Restraints:

The market for Specialty Food Ingredients in Asia Pacific is mainly driven due to changing consumer consumption trends towards health and wellness food products, increase in demand for personal care products, and increasing per capita revenue in emerging economies. But, the market growth can be constrained due to factors like food security concerns, regulations, limited raw material accessibility, expenditure and scientific barrier.

Asia Pacific Specialty Food Ingredients Market Segmentation Analysis:

Asia Pacific market for Specialty Food Ingredients is segmented based on Ingredients and Application. By ingredients, the market is further sub-segmented into Functional Food Ingredients, Sugar Substitutes, Flavors, Specialty Starches, Acidulants, Preservatives, Emulsifiers and Colors, Enzymes, F&B Starter cultures, Nutraceuticals. By Application, the market is further sub-segmented into Bakery & Confectionery, Beverages, Dairy & Frozen foods, Convenience foods, Meat Products & Functional Foods and Beverages, Dietary Supplements. Functional Food Ingredients segment dominate the market with the largest share and demand, while, Nutraceuticals segment is escalating in the market with high CAGR.

Geographical Analysis:

Geographically, Asia-Pacific market for Specialty Food Ingredients is segmented into China, India, Japan, South Korea and Australia. The Specialty Food Ingredients market in the Asia-Pacific region is projected to grow at the highest CAGR, which is greatly due to economic growth and the shift of the preferences of the consumers towards value added food. The rapidly developing food and beverage sector and leading market players introducing numerous specialty ingredients is driving the market in this region.

Key Players in the Market:

Major key Players in the APAC Specialty Food Ingredients Market are

• Archer Daniel Midland
• Royal DSM N.V
• Kerry Groups
• Cargill Inc
• E. I. DuPont de Nemours and Company
• Givaudan Flavors
• Sensient Technologies
• CHR. Hansen
• Ingredion Incorporated
• Tate & Lyle PLC