North America Specialty Food Ingredients Market

North America Specialty Food Ingredients Market Growth and Forecast (2023 - 2028):

The North America Specialty Food Ingredients Market has been estimated at USD 19.01 Billion in 2022 and is projected to reach USD 21 Billion by 2028, at a CAGR of 5.3% during the forecast period from 2023 to 2028.

Market Overview:

Specialty Food ingredients are added to enhance taste and flavor to the processed food items. They help in enhancing shelf-life, stability and texture of the food products. They are used by food and beverage industry in order to be 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 North America is mainly driven due to rising rate of diabetes and obesity which is prompting the consumer to focus more on healthier lifestyles, which is in turn increasing the demand for health and wellness food ingredients. Also, growing brewery industry and the occurrence of high complexity of procedures is increasing the demand for enzymes and starter cultures and thus, aiding to the market growth. But, the market growth can be constrained due to adherence to stringent regulatory guidelines by food administration department and governments.

North America Specialty Food Ingredients Market Segmentation Analysis:

North America 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 largest share and demand, while, Nutraceuticals segment is escalating in the market with high CAGR.

Region Analysis:

Geographically the North America Specialty Food Ingredients Market is segmented into US, Canada and Rest of North America. North America is the biggest market in terms of market share across the globe. With huge percentage of population suffering from obesity and diabetic risks, there is demand for functional foods and specialty food ingredients in U.S. Processing industries are keen on getting the right formulation to present the best food product to the consumer through specialty food ingredients in this region.

Key Players in the Market:

Major Key Players in the North America 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