The Specialty Food Ingredients Market is poised for substantial growth, with projections reaching an impressive $250.44 billion by 2030, marking a robust Compound Annual Growth Rate (CAGR) of 5.6% during the forecast period from 2023 to 2030. This surge is also reflected in terms of volume, with the market expected to reach 79,704.9 KT by 2030, boasting a CAGR of 4.5%.
The driving forces behind this remarkable growth are the evolving preferences of consumers, triggering a surge in demand for specialty ingredients within the food and beverage sector. Additionally, the escalating focus on health-conscious choices, the rising popularity of convenience foods, and the surge in partnerships and distribution agreements among specialty food ingredients manufacturers are pivotal factors contributing to the market's upward trajectory.
Despite these promising prospects, challenges such as the short shelf life and low stability of specialty food ingredients pose hindrances to market growth. Nevertheless, the market anticipates overcoming these challenges through new product launches and technological innovations in the specialty food ingredients space.
Key Trends Shaping the Specialty Food Ingredients Market
Natural and Organic Surge: A prominent trend driving the market is the growing demand for natural, organic, and clean-label ingredients.
Top 10 Companies in the Specialty Food Ingredients Market
To keep you abreast of the industry's leaders, here are the top 10 companies operating in the Specialty Food Ingredients Market: https://meticulousblog.org/top-10-companies-in-speciality-food-ingredients-market/
1. Cargill, Incorporated
Founded: 1865Headquarters: Minnesota, U.S.Offerings: Acidulants, dry corn ingredients, emulsifiers, health-promoting ingredients, high maltose syrups, hydrocolloids, lecithin, proteins, salt, starches & derivatives, sweeteners, toppings, alcohol, cocoa & chocolate, sauces & fillers, texturizers & specialty ingredients, and more.Geographical Presence: More than 70 countries, spanning North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
2. Archer-Daniels-Midland Company (ADM)
Founded: 1902Headquarters: Illinois, U.S.Offerings: Plant-based proteins, natural flavors, flavor systems, natural colors, emulsifiers, soluble fiber, polyols, hydrocolloids, probiotics, prebiotics, enzymes, botanical extracts, acidulants, and other specialty food and feed ingredients.Global Presence: Over 190 countries, with operations across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
3. Kerry Group plc
Founded: 1972Headquarters: Tralee, IrelandSegments: Taste & Nutrition, Dairy IrelandOfferings: Dairy, bakery and snacks, beverages, emulsifiers, seasonings, savory, sweet flavors and extracts, food & beverage enzymes, plant-based solutions, frozen meals, meat & meat alternative products, proteins, pharmaceuticals, and more.Global Reach: Presence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
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4. Koninklijke DSM N.V.
Founded: 1902Headquarters: Heerlen, NetherlandsSegments: Animal Nutrition & Health, Health Nutrition & Care, Food & Beverage, and OtherOfferings: Enzymes, flavors, colors, proteins, antioxidants, vitamins, preservatives, starter cultures, hydrocolloids, and other ingredients.Global Footprint: Operations across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
5. Ingredion Incorporated
Founded: 1906Headquarters: Illinois, U.S.Segments: Food, Beverages, Brewing, Animal Nutrition, and OthersProduct Portfolio: Starch, sweeteners, nutritional ingredients, and biomaterial solutions used in food, beverage, brewing, and animal nutrition.Global Presence: Manufacturing facilities in 47 locations and operations spanning North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
6. Tate & Lyle PLC
Founded: 1859Headquarters: London, U.K.Segments: Food & Beverage Solutions, Sucralose, and Primary Products EuropeOfferings: Sweeteners, starches, soluble fibers, plant-based ingredients, and other specialty food ingredients for various applications.Geographic Reach: Extends across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
7. Givaudan SA
Founded: 1895Headquarters: Vernier, SwitzerlandSegments: Taste & Wellbeing, Fragrance & BeautyOfferings: Flavors, ingredients, taste, functional, and nutritional solutions.Global Network: Presence in over 52 countries, covering North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
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8. Chr. Hansen Holding A/S
Founded: 1874Headquarters: Hørsholm, DenmarkSegments: Food Cultures & Enzymes, Human Health & NutritionProducts: Probiotics, starter cultures, colorants, food enzymes and cultures, plant health, and animal health solutions.Global Presence: Operating in more than 140 countries across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
9. Associated British Foods plc
Founded: 1935Headquarters: London, U.K.Segments: Sugar, Agriculture, Retail, Grocery, and IngredientsSpecialty Food Ingredients: Supplied through subsidiaries, offering yeast, bakery ingredients, and specialty ingredients for various sectors.Customer Base: Spans more than 100 countries, with a strong presence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
10. BASF SE
Founded: 1865Headquarters: Ludwigshafen, GermanySegments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care, and Agricultural SolutionsSpecialty Food Ingredients: Offered through the Nutrition & Care business segment, including health ingredients, food performance ingredients, colorants, beverage stabilizers, and animal nutrition products.Global Influence: Subsidiaries and distribution network spanning more than 90 countries, with a strong presence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
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Future Market Insights (FMI) presents its new, comprehensive study on the global Specialty Food Ingredients market spanning from 2017 to 2022.
Researches at FMI have no left no stone unturned in bestowing readers a comprehensive view of the market, by studying the drivers, trends, challenges, and restraints.
Ranging from macro socio-economic factors to micro geography-specific trends, the research has taken into consideration every facet that is likely to play a vital role in the growth of the market in the years to come.
Presenting a plethora of valuable information, the report will serve as an effective tool, guiding the market players in making fruitful decisions in the forthcoming years.
The pandemic has caused several changes - both on the supply and demand side - which are making market players rethink their strategies in order to stay afloat.
Although this is exhibiting a dual impact on the growth, supply-side issues such as unavailability of workforce and travel restrictions are hindering smooth operations.
