Specialty Food Ingredients Market Set to Exceed USD 67.76 Billion by 2026 | Top Companies: Cargill Inc., Royal DSM N.V., DuPont, Tate & Lyle, CHR. Hansen Holding A/S, Archer Daniels Midland (ADM) and Kerry Group
The specialty food ingredient sector has outperformed other wider sectors of the food & beverage industry. This is due to the shift in dynamics within the food & beverage industry such as the changing consumer demands for more organic, natural and`1 highly nutritious processed foodstuff. Several studies have shown that the relationship between the specialty ingredients and processed food industry are evolving due to higher levels of collaborative innovation and product developments to fulfil stringent regulations and new consumer trends.
According to a new study published by Polaris Market Research the Specialty Food Ingredients Market is anticipated to reach USD 67.76 billion by 2026. A larger share of the value chain has been dominated by a relatively smaller number of ingredient suppliers, thus creating valuation and margin opportunities globally.
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These products also add to higher sustainability during processing of food, apart from offering their conventional functions for the food stuff. The components help to increase efficiency in food processing by limiting the quantity of raw material requirements and making the optimum use of it. Moreover, with their nutritional, technological and health related functions these products also offer other advantages such as enhancement of taste, higher food safety, and extended food choices and affordability. These factors have been crucial in considering specialty ingredients an integral part of the food supply and hence demand of these micro and macro constituents of food is expected to surge substantially in the immediate future. Also, the food industry being a innovation driven, the specialty ingredients sector is a key contributor in enhancing the competitiveness of the entire value chain.
Some of the global manufacturers in the Specialty Food Ingredients Market include Cargill Inc., Royal DSM N.V., DuPont, Tate & Lyle, CHR. Hansen Holding A/S, Archer Daniels Midland (ADM), Kerry Group, Ingredion, General Mills, BASF, ABS Food and Givaudan.
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Key Findings from Specialty Food Ingredients Market research study suggest that the largest share of the market in 2017 was of the Asia Pacific region. The region has been a substantially influential market in supply of these products to the other regions. China is one of the largest industries in the Asia Pacific and also globally with presence of an extensively diverse ingredient manufacturing sector with over hundreds of multinational and national players currently operating in the country.
Some of the imperative factors for the higher growth of Specialty Food Ingredients Market in different regional industry includes the increasing spending power, burgeoning economies, presence of a youthful population, growing westernization of FMCG market, increasing urbanization and a mounting interest in health and wellness among the consumers. North America is another significant market, which is home to most of the leading multinational ingredient manufacturers. The U.S. is the largest producer of these products in the region with over 85% of the companies concentrated in the country.
TOC of Specialty Food Ingredients Market:
Chapter 1. Overview and Scope
Chapter 2. Market Summary
Chapter 3 Specialty Food Ingredients Market Size and Forecast
Chapter 4. Dynamics and Segmentation
Chapter 5. Detailed Insight on Key Company
Chapter 6. Research Methodology and Reference
Chapter 7. Competitive Landscape
TOC Continued…...!!!
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on Monday November 05 2018, 7:08 AM EST.
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