This report titled “Specialty Food Ingredients Market - Growth, Future Prospects, and Competitive Analysis, 2016 – 2024” offers strategic insights into the trends in specialty food ingredients market along with the market size and forecast for the duration 2013 to 2024. The said research study incorporates in-depth analysis of multiple market segments based on ingredient type, application and geographical distribution.

The global specialty food ingredients market is becoming increasingly competitive with growing new products by market players to reach full capabilities and gain international footprint. In addition, several players are also focused on developing their niche products in the market. Rapid growth of this market has also resulted in creating further skilled job opportunities in major hubs spread across North America, Asia Pacific and Europe. 

Based on ingredient type, the global specialty food ingredients market is categorized into fortified food ingredients, flavors, sugar substitutes, emulsifiers, colors, and others. On the basis of application, the global specialty food ingredients market is segmented into confectionery and bakery, dairy and beverages, meat products, functional foods, and others. Market size and forecast for all the considered segmentation is presented in this report for the period 2013-2024 (US$ Bn) along with their respective CAGRs for the forecast period 2016-2024 (Value %).

Along with the quantitative information sets, this report also provides qualitative information such as market dynamics and executive summary for the global specialty food ingredients market. Tools such as competition assessment and attractive investment proposition are also included in the report to provide the readers with competitive mapping assistance. This study concludes with company profiles section. This section includes major information about the key companies engaged in development, and provision of specialty food ingredients.

On the basis of application, the specialty food ingredients market is categorized into following types:

• Confectionery and bakery
• Dairy and beverages
• Meat products
• Functional Foods
• Others

Increasing rate of obesity and diabetes in developing and developed countries is prompting the people to emphasize highly on health thus resulting in higher demand for wellness related ingredients from food companies. The specialty food ingredients market is also segmented on the basis of application such as confectionery and bakery, dairy and beverages, meat products, functional foods, and others. Amongst this, functional foods contributed the highest share in the total revenue of specialty food ingredients market in 2015. The segment is expected to expand at a stupendous compound annual growth rate over the forecast period. The growth and prosperity in developing countries such as China and India has led to rising personal disposable income and as well as ability to spend on various products. Rising demand for flavors and colors specialty food ingredients is expected to impel the growth of bakery and confectionery segment over the forecast period.

On the basis of ingredient type, the specialty food ingredients market is categorized into following ingredient types:

• Fortified food ingredients
• Flavors
• Sugar substitutes
• Emulsifiers
• Colors
• Others

Changing trend towards health food products showcases enhanced purchasing power of consumers, thus ultimately providing robust opportunity for food and beverage companies to increase their market share in such food products. The specialty food ingredients market is also segmented on the basis of ingredient type such as fortified food ingredients, flavors, sugar substitutes, emulsifiers, colors, and others. Amongst this, fortified food ingredients segment contributed the highest share in the total revenue of specialty food ingredients market in 2015. The segment is expected to expand at an exponential compound annual growth rate over the forecast period due to increasing demand for nutraceuticals products which is anticipated in the next few years. The flavors and colors segment is anticipated to observe robust growth over the forecast period. This is due to rising demand for specialty food ingredients bakery industry.

Urbanization along with change in lifestyle and food habits is intensifying the packaged and processed foods demand all across the globe. This is anticipated to impel the growth of specialty food ingredients market over the forecast period. The global specialty food ingredients market is segment on the basis of geography. North America region contributed the highest revenue share in total specialty food ingredients market with a contribution of more than 40% in 2015. Rising popularity of processed food in U.S. has strengthened the growth of the region over the past few years. Followed by it, Europe stood at second position in that year. Asia Pacific is anticipated to expand at a robust CAGR over the forecast period and is likely to expand at a higher CAGR till 2024 due to rising personal disposable income along with increasing health awareness.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Specialty Food Ingredients market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Specialty Food Ingredients market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Specialty Food Ingredients market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Specialty Food Ingredients market?
• Which is the largest regional market for Specialty Food Ingredients market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Specialty Food Ingredients market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Specialty Food Ingredients market worldwide?