The Global Specialty Food Ingredients Market Is Predicted To Reach 76.16 Billion With A CAGR Of 5.75% According To Market Data Forecast Report

The Global Specialty Food Ingredients Market Is Predicted To Reach 76.16 Billion With A CAGR Of 5.75% According To Market Data Forecast Report

ID: 1551 | October 2018 | Region: Global

The Global Specialty Food Ingredients Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Global Specialty Food Ingredients Market is estimated to be 57.59 USD billion and predicted to rise to 76.16 USD billion with a CAGR of 5.75%. The market is segmented by Ingredient (Functional Food Ingredients, Sugar Substitutes, Flavors, Specialty Starches, Acidulants, Preservatives, Emulsifiers and Colors, Enzymes, F&B Starter cultures, Nutraceuticals), & by Application (Bakery & Confectionery, Beverages, Dairy & Frozen foods, Convenience foods, Meat Products, Functional Foods and Beverages, Dietary Supplements). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.

The market for Specialty Food Ingredients is mainly driven due to changing lifestyle which is making people more addicted to the packaged and processed food, which eventually is leading to obesity among people. Due to this, people are resorting to balanced food and low consumption of fat, which is increasing the demand for Specialty food ingredients. But, the market growth can be restrained due to high price of raw materials and processing equipment, and also strict regulations on the consumption levels by food administration bodies.

Functional Food Ingredients segment dominate the market with largest share and demand, while, Nutraceuticals segment is escalating in the market with high CAGR.

Geographically, North America is the biggest market in terms of market share across the globe, followed by Europe. With high organized retail penetration, U.S. and U.K. are seen as saturated markets for processed foods. With huge percentage of population suffering from obesity and diabetic risks, there is demand for functional foods and specialty food ingredients. 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. Brazil, India, China with their economic growth, are most potential markets.

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, and Tate & Lyle PLC are the major players of Global Specialty Food Ingredients market.

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