Specialty Food Ingredients Market – Rise in Demand for Convenience and Processed Foods is Expected to Lead the Market Growth – Growing at a Compound Annual Growth Rate (CAGR) 5.5% from 2022 to 2028

Specialty Food Ingredients
  • Specialty Food Ingredients Market

As stated in our extensive report; the Global Specialty Food Ingredients Market accounted forUSD 145.2 Billionin 2021.

The COVID-19 outbreak severely impacted almost every industry and its market during the crisis, when all countries tried their best to control the spread of COVID-19. The government has imposed a lockdown and several restrictions which affected the import and export of the goods. With the given rules and regulations, the supply chain was disrupted, further leading to a reduction in the manufacturing of products. The Global Specialty Food Ingredients Market was affected by the COVID-19 outbreak owing to the minimal production rate. However, the market has had a positive impact too. COVID-19 has propelled the awareness of healthy foods. In other words, COVID-19 has shifted the consumer’s focus to more nutritious food, such as specialty foods. Therefore, the Global Specialty Food Ingredients Market is anticipated to gain momentum in the post-covid-19 period.

Specialty Food Ingredients is used to make specialty, high-value food with high-quality ingredients. These foods are generally in small quantities yet more nutritious than other food items. However, these foods are comparatively more expensive than other foods. Based on the type, the Specialty Food Ingredients is segmented into several types: flavors and colors, textures, sweeteners, preservatives, enzymes, etc. Furthermore, the application type segments the market into the bakery, dairy, confectionery, beverages, and convenience foods.

The Global Specialty Food Ingredients Market is constantly growing as Specialty Food Ingredients is used in various foods and beverages, cosmetic and pharmaceutical products. The increasing demand for convenience and processed food is anticipated to accelerate the Global Specialty Food Ingredients Market. Additionally, the rising awareness of healthy food is propelling the demand for Specialty Food Ingredients. The covid-19 is attributed to the increasing awareness of healthy food. In addition, the large volume of the population has become more concerned about their health. As a result, the covid-19 has surged the demand for Specialty Food Ingredients and led the market growth during and after the pandemic. The increasing demand for fortified food is projected to drive the Global Specialty Food Ingredients Market in the forecasted period. In addition, the growing consumer preference for clean label products is a market trend for the Global Specialty Food Ingredients Market. Also, several new market players are emerging in the Global Specialty Food Ingredients Market. These market players are endeavoring to bring novel product launches and business strategies that will increase the sales of Specialty Food Ingredients. Therefore, significant market players and emerging new entrants are surging the competition in the Global Specialty Food Ingredients Market.

The market is anticipated to grow in volume and value in well-developed regions such as . However, the has been dominating the Specialty Food Ingredients Market over the past few years and is projected to grow more at an exponentially growing compound annual growth rate in the forecasted period owing to increasing awareness of healthy diet, change in lifestyles, surging demand for convenience foods and other factors.

Some of the prominent players in the Global Specialty Food Ingredients Market include- Cargill Incorporated (US), ADM (US), DuPont (US), Ingredion (US), Kerry Group (Ireland), DSM (Netherlands), Chr. Hansen (Denmark), Sensient technology corporation (US), Tate & Lyle (UK), Givaudan (Switzerland), Biocatalysts (UK), Omega Protein (US), Enzyme Supplies (UK), FDL Ltd (UK), Nutriati (US), Crespel & Dieters (Germany), Axiom Food (US), Amano Enzymes (Japan), Amco Proteins (US), Aminola (Netherlands) and others.