Global Specialty Food Ingredients Market

Specialty Food Ingredients Market Size, Share, Growth Analysis, By Nature (Organic, Conventional), By Distribution Channel (Direct, Indirect), By End Use (Food and Beverages, Bakery), By Region - Industry Forecast 2024-2031

Report ID: SQMIG30H2082 | Region: Global | Published Date: November, 2024
Pages: 198 | Tables: 81 | Figures: 76

Specialty Food Ingredients Market Regional Insights

Globally, Asia Pacific is estimated to hold the highest specialty food ingredients market share. Main factors during this growth period are the presence of top market players and increasing popularity of special food ingredients. Increasing population in countries like China and India all anticipate the growth of the market.

Above all, North America is expected to grow steadily compared to APAC during the forecast period. The reason for the same is increasing acquisition of Specialty Food Ingredients in the region of North America and mainly in the US and Canada.

Specialty Food Ingredients Market Report Snapshots

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Specialty Food Ingredients Market size was valued at USD 148.9 billion in 2022 and is poised to grow from USD 157.24 billion in 2023 to USD 243.15 billion by 2031, growing at a CAGR of 5.6% during the forecast period (2024-2031).

Competition in the Specialty Food Ingredients market is expected to increase during the forecast period because new players are expected to enter in the global market and the number of ingredients compatible with Specialty Food Ingredients will also increase. Currently, only a few key players are providing their services in the global market but these numbers will increase in the upcoming years. 'Givaudan', 'Eli Fried Inc.', 'Ingredion', 'Associated British Foods Plc', 'Kerry Group', 'Agropur Cooperative', 'Archer Daniels Midland Company', 'Cargill Inc.', 'DSM-Firmenich', 'Diana Group SA', 'Tate & Lyle', 'CHR. Hansen', 'ACE INGREDIENTS CO., LTD.', 'ROQUETTE FRERES', 'AMANO ENZYME INC.', 'SENSIENT TECHNOLOGIES CORPORATION', 'AXIOM FOOD, INC.', 'AMCO PROTEINS', 'FDL LTD', 'In April 2022, ofi, a global leader in naturally good food & beverage ingredients, today announced the acquisition of Club Coffee L.P. (“Club Coffee"), one of Canada’s largest roasters of packaged coffee to the ‘At Home’ segment. The transaction is expected to complete in Q2 2022, subject to regulatory approval and other conditions.'

Speciality food ingredients is a cost effective strategy to provide consumers with proper food with demonstrated health, economic and social benefits. Along with rising population, consumers are becoming more aware about the quality of the food and nutrition its provide. Along with health benefits and calorie reduction consumers are looking for sustainability and fairness. To fulfill the needs of consumers, the product must be sourced and manufactured in a sustainable way and should have a transparent value chain along with it. It should also contribute to introducing food waste and to a circular economy. In today's working schedule, the population all across the globe looks for convenience. These key factors of health benefits, convenience and sustainability will help the specialty food ingredient markets to propel in future.

To create the sustainable future of specialty food ingredients, the demand of natural colorant has increased exponentially. Therefore, looking at this specialty food ingredients market trend, the major firms in specialty food ingredient returning towards the natural colourant. Several SME are reluctant about involving natural colors to their process because of high cost and lack of availability of raw materials.

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Specialty Food Ingredients Market Size, Share, Growth Analysis, By Nature (Organic, Conventional), By Distribution Channel (Direct, Indirect), By End Use (Food and Beverages, Bakery), By Region - Industry Forecast 2024-2031

Specialty Food Ingredients Market Regional Insights

Specialty Food Ingredients Market Report Snapshots

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