According to Stratistics MRC, the Global Specialty Food Ingredients market is accounted for $127.32 billion in 2019 and is expected to reach $249.98 billion by 2027 growing at a CAGR of 8.8% during the forecast period.
Increase in demand for clean label products among the consumers, rise in demand for fortified food owing to growing health awareness and inclination of consumer preferences towards food & beverages are the major factors driving the market growth. However, high cost and limited availability of raw materials is restraining the market growth.
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Special food ingredients are substances commonly used in the emulsion, colour, texture, and preservation of food. These ingredients improve the nutritional value of processed foods. Specialty food ingredients provide the requirements to promote overall melting from the farm gate level to the final stage of value-added processed foods.
Based on type, the vitamins and minerals in the functional segment accounted for considerable market share during the forecast period owing to being used in various dishes as an important sub type of specialty food ingredient is accelerating the market growth.
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By geography, Asia Pacific held largest market share during forecast period due to the high population in the region and the increase in the purchasing capacity, consumers are looking for various comfort and functional food.
Some of the key players profiled in the Specialty Food Ingredients Market include Specialty Commodities Inc., Tate & Lyle PLC, Vidhi Specialty Food Ingredients Limited, Woodland Foods, Roquette Freres S.A., Sensient Technologies Corporation, AmTech Ingredients LLC, Archer Daniels Midland Company, Cargill, Inc., KF Specialty Ingredients Australia Pty Ltd., DowDuPont, Inc., Evonik Industries AG, Frutarom Industries Ltd., Ingredion, Inc., Kerry Group PLC, Koninklijke DSM N.V., Naturex SA, PPG Industries, Inc. and Prinova Group LLC.
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• Other Types
• Health & Wellness
Distribution Channels Covered:
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
– Market share assessments for the regional and country level segments
– Market share analysis of the top industry players
– Strategic recommendations for the new entrants
– Market forecasts for a minimum of 9 years of all the mentioned segments, sub-segments, and the regional markets
– Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
– Strategic recommendations in key business segments based on the market estimations
– Competitive landscaping mapping the key common trends
– Company profiling with detailed strategies, financials, and recent developments
– Supply chain trends mapping the latest technological advancements
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