Global Specialty Food Ingredients Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global specialty food ingredients market size reached US$ 76.6 Billion in 2022. Looking forward, the market is expected to reach US$ 104.8 Billion by 2028, exhibiting a growth rate (CAGR) of 5.36% during 2022-2028.

Specialty food ingredients are substances added to different food items for enhancing their nutritional value and functional benefits. They also reduce food waste, extend shelf life, and improve taste, texture, appearance and health profile. Some of the commonly used specialty food ingredients are colors, cultures, emulsifiers, enzymes, proteins, preservatives, flavor enhancers, high-intensity sweeteners, acidulants and pH salts, botanicals and bioactive, fats and oils, polysaccharides and oligosaccharides, and vitamins and minerals. Nowadays, with the escalating demand for energy drinks due to the growing popularity of sports and fitness activities like yoga and aerobics, there is a rise in the adoption of specialty food ingredients worldwide.

Specialty Food Ingredients Market Trends

Rapid urbanization, hectic lifestyles, inflating disposable incomes, and the increasing trend of nuclear families are promoting the consumption of ready-to-eat (RTE) food items, which require minimal preparation and cooking time. This represents one of the key factors bolstering the market growth. Moreover, the rising focus on health and wellness is catalyzing the demand for natural, plant-based specialty food ingredients to produce high-quality, multi-functional products. Apart from this, there is an increase in the incorporation of specialty food ingredients like dietary fibers and antioxidants into bakery products, dairy, jams, meats, and soups on account of their gel formation capacity. This can also be accredited to their assistance in modifying the textural properties of these products and stabilizing their high-fat emulsions. Furthermore, several manufacturers are offering innovative products with clean label ingredients to create a green brand image, which is contributing to market growth. They are also focusing on incorporating advanced process technologies to enhance aroma and flavor, mask unpleasant odor and poor taste components, and improve the quality of finished products, which is anticipated to impact the market positively.

Key Market Segmentation

This research provides an analysis of the key trends in each sub-segment of the global specialty food ingredients market report, along with forecasts at the global, regional and country level from 2023-2028. The report has categorized the market based on product type, source, application and distribution channel.

Breakup by Product Type:

• Specialty Sensory Ingredients
• Enzymes
• Emulsifiers
• Flavors
• Colorants
• Specialty Functional Ingredients
• Vitamins
• Minerals
• Antioxidants
• Preservatives

Breakup by Source:

• Natural
• Synthetic

Breakup by Application:

• Beverages
• Bakery and Confectionery
• Dairy Products
• Processed Foods
• Meat Products
• Savory and Sweet Snacks

Breakup by Distribution Channel:

• Distributors
• Manufacturers

Breakup by Region:

• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Latin America
• Brazil
• Mexico
• Middle East and Africa

Competitive Landscape

The competitive landscape of the industry has also been examined along with the profiles of the key players being Archer Daniels Midland Company, Associated British Foods Plc, Cargill Incorporated, Chr. Hansen Holding A/S, DuPont de Nemours Inc., Givaudan, Ingredion Incorporated, Kerry Group plc, Koninklijke DSM N.V., Sensient Technologies Corporation and Tate & Lyle plc.

Key Questions Answered in This Report

1. What was the size of the global specialty food ingredients market in 2022?
2. What is the expected growth rate of the global specialty food ingredients market during 2023-2028?
3. What are the key factors driving the global specialty food ingredients market?
4. What has been the impact of COVID-19 on the global specialty food ingredients market?
5. What is the breakup of the global specialty food ingredients market based on the product type?
6. What is the breakup of the global specialty food ingredients market based on the source?
7. What is the breakup of the global specialty food ingredients market based on the application?
8. What is the breakup of the global specialty food ingredients market based on the distribution channel?
9. What are the key regions in the global specialty food ingredients market?
10. Who are the key players/companies in the global specialty food ingredients market?