Specialty Food Ingredients Market to be Worth $266.20 Billion by 2031 - Exclusive Report by Meticulous Research®

Meticulous Market Research Pvt. Ltd. • 15 May 2024 - 16:01


Industry

Food & Beverages Beverages

Subject

Market Research Reports

REDDING, Calif., May 15, 2024 /PRNewswire/ -- According to a new market research report titled, 'Specialty Food Ingredients Market Size, Share, Forecast, & Trends Analysis by Type (Proteins and Amino Acids, Enzymes, Flavors, Starter Cultures), Source (Natural), Application (Food {Bakery & Confectionery}, Beverages {Alcoholic})—Global Forecast to 2031,' the specialty food ingredients market is projected to reach $266.20 billion by 2031, at a CAGR of 5.8% from 2024 to 2031. In terms of volume, this market is projected to reach 83,936.1 KT by 2031, at a CAGR of 4.6% during the forecast period of 2024–2031.

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Specialty food ingredients are used to enhance the taste, texture, appearance, shelf life, and nutritional value of food products. These ingredients are primarily obtained from various natural and synthetic sources to provide specific flavors, colors, textures, and health benefits to foods that are not commonly found in major food ingredients. Moreover, these specialty food ingredients offer functional benefits essential in providing today's consumers with a wide range of tasty, safe, healthy, qualitative, and sustainably produced food. Specialty food ingredients include several enzymes, emulsifiers, flavors, colorants, acidulants, specialty starches, sweeteners, starter cultures, proteins & amino acids, vitamins, minerals, prebiotics, probiotics, hydrocolloids, essential oils, omega-3 fatty acids, carotenoids, preservatives, and other ingredients. The specialty food ingredients market has seen significant growth due to the growing adoption of convenience foods and the increasing number of health-conscious consumers.

Key Players:

The key players operating in the global Archer-Daniels-Midland Company (U.S.), Ashland Inc. (U.S.), Associated British Foods plc (U.K.), BASF SE (Germany), Cargill, Incorporated (U.S.), Chr. Hansen Holding A/S (Denmark), Givaudan SA (Switzerland), Ingredion Incorporated (U.S.), Kerry Group plc (Ireland), Koninklijke DSM N.V. (Netherlands), and Tate & Lyle PLC (U.K.).

The global specialty food ingredients market study presents historical market data (2022 and 2023), estimated current data (2024), and forecasts for 2031— by type (proteins & amino acids, flavors, hydrocolloids, specialty starches, vitamins, minerals, prebiotics, probiotics, enzymes, emulsifiers, colorants, acidulants, sweeteners, starter cultures, essential oils, omega-3 fatty acids, carotenoids, preservatives, and other food ingredients), by source (natural specialty food ingredients and artificial specialty food ingredients), by application (food {bakery & confectionery, dairy products, sauces, dressings, and condiments, snacks, breakfast cereals, meat, poultry & seafood, infant food, and other food applications}, beverage [non-alcoholic beverages {carbonated soft drinks, dairy-based beverages, sports and energy drinks, iced tea, and other beverages}, alcoholic beverages]), and by geography. The study also evaluates industry competitors and analyzes the country-level markets.

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Key Findings in the Global Specialty Food Ingredients Market Study:

Among all the types studied in this report, in 2024, the proteins & amino acids segment is expected to account for the largest share of 19.3% of the specialty food ingredients market. However, the probiotics segment is slated to register the highest CAGR of 9.6% during the forecast period of 2024–2031, owing to the growing consumer awareness about the health benefits of probiotics, the increasing use of probiotics as an alternative to antibiotics, and the growing research on probiotics.

Among all the sources studied in this report, the natural specialty food ingredients segment is expected to account for the larger share of 71.2% of the specialty food ingredients market in 2024. The large market share of this segment is attributed to the increasing demand for organic food products, the growing popularity of clean-label products, and rising awareness about the health hazards associated with synthetic food ingredients. Moreover, this segment is further projected to register a higher CAGR during the forecast period of 2024–2031 due to the increasing awareness about sustainable sourcing and advancements in food technology.

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Among all the applications studied in this report, in 2024, the food segment is expected to account for a larger share of 73.3% of the specialty food ingredients market. The large market share of this segment is attributed to changing consumer lifestyles and the rising preference for convenience food. Additionally, the increasing health awareness among consumers is steadily causing a shift towards safer and healthier foods, which is further expected to boost the demand for specialty food ingredients.  However, the beverages segment is slated to register the higher CAGR during the forecast period of 2024–2031, owing to the growing demand for authentic-tasting drink options beyond soft drinks, the increasing health awareness among consumers causing a shift towards safer, more convenient, healthy, and refreshing beverages, and the growing application of specialty food ingredients in sports drinks.

Geographically, in 2024, North America is expected to account for the largest share of 30.0% of the specialty food ingredients market. The North America specialty food ingredients market is estimated to be worth USD 53.8 billion in 2024. The large share of this market is primarily attributed to growing health concerns, the well-established food and beverage industry, growing consumer demand for natural and clean-label foods, increasing demand for functional food ingredients, and increasing consumption of convenience foods.

However, the Asia-Pacific specialty food ingredients market is slated to register the highest CAGR during the forecast period of 2024–2031.

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Scope of the report:

Specialty Food Ingredients Market Assessment—by Type

  • Proteins and Amino Acids
  • Flavors
  • Vitamins
  • Hydrocolloids
  • Specialty Starches
  • Preservatives
  • Minerals
  • Acidulants
  • Colorants
  • Sweeteners
  • Emulsifiers
  • Essential Oils
  • Prebiotics
  • Enzymes
  • Probiotics
  • Omega-3 Fatty Acids
  • Starter Cultures
  • Carotenoids
  • Other Specialty Food Ingredients

Specialty Food Ingredients Market Assessment—by Source

  • Natural Specialty Food Ingredients
  • Artificial Specialty Food Ingredients

 Specialty Food Ingredients Market Assessment—by Application

  • Food
    • Bakery & Confectionery
    • Dairy Products
    • Sauces, Dressings, and Condiments
    • Snacks
    • Breakfast Cereals
    • Meat, Poultry, and Seafood
    • Infant Food
    • Other Food Applications
  • Beverage
    • Non-alcoholic Beverages
      • Carbonated Soft Drinks
      • Dairy-based Beverages
      • Sports and Energy Drinks
      • Iced Tea
      • Other Non-alcoholic Beverages
    • Alcoholic Beverages

Specialty Food Ingredients Market Assessment—by Geography

  • North America
    • U.S.
    • Canada
  • Asia-Pacific
    • China
    • India
    • Japan
    • Australia
    • Rest of Asia-Pacific
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • Middle East and Africa

Related Reports

Functional Ingredients Market by Type (Vitamins, Proteins and Amino Acid, Probiotics), Source (Natural), and Application (Food and Beverage [Dairy Products, Bakery & Confectionery, Energy Drinks], Pharmaceuticals, Animal Nutrition) - Global Forecast to 2030

Feed Additives Market by Type (Performance Additives, Specialty Additives), Animal Type (Poultry, Ruminants, Swine, Aquatic Animals), Source (Synthetic, Natural), Form (Dry, Liquid), and Geography - Global Forecast to 2030 

Nutraceutical Ingredients Market by Product Type (Vitamins, Amino Acids, Probiotic, Minerals), Derivation Method, Form (Liquid), Application (Functional Food, Functional Beverages, Animal Nutrition), End User, and Geography - Global Forecast to 2030

Related Blogs:

Top 10 Companies Iin Specialty Food Ingredients Market

Growing Adoption of Convenience Foods is Expected to Drive the Growth of the Specialty Food Ingredients Market

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