Specialty Food Ingredients Market worth $80,323.4 Million by 2018

Wednesday 30 April 2014, Amsterdam

The report "Specialty Food Ingredients Market by Type (Flavors, Colors, Texturants, Preservatives, Sweeteners, Nutraceuticals, Starches, Cultures, Acidulants) & by Application (Bakery & Confectionery, Dairy, Beverages, Meat Products) - Global Trends & Forecast to 2018" defines and segments the specialty food ingredients market with an analysis and forecasting of the market value of types of specialty food ingredients and its applications. The report also identifies the driving and restraining factors for the global market with an analysis of trends, opportunities, winning imperatives, and challenges. The market is segmented and values are forecasted on the basis of major regions, such as North America, Europe, Asia-Pacific (APAC), and Rest of the World (ROW).

According to the new reports, the specialty food ingredients market was valued at $57,243.4 million in 2012 and is estimated to grow at a healthy CAGR. In 2012, North America led the global market with the largest share followed by Europe in terms of market value.

Specialty food ingredients equip the food products with clinically proven health benefits. Research is being undertaken to come up with innovative specialty food ingredients which can be used in different food and beverage applications. Deskbound lifestyles along with elevated awareness for low fat and healthy food worldwide are driving the market for new product lines. These product lines benefit from the multi-functionality of these ingredients.

The specialty food ingredients market globally benefits from numerous underlying global consumer trends. The consumer trends like ease of use, health and wellness, and clean label influence the overall market. The ease of use trend is due to the rapid urbanization in emergent markets. Consumers today, demand healthier ingredients in their food products. The growing obesity and diabetes incidences compel consumers in emerging and developed economies to focus on an improved lifestyle.

The North American market is expected to show a steady growth trend, mainly due to the progress in the processed food industry owing mainly to the increase in demand for healthy food. The healthier eating habits provide the much needed impetus to the European specialty food ingredients market. Asia-Pacific is estimated to grow with the fastest CAGR during the period under review. The four most potential countries for the specialty food ingredients market are India, China, Russia, and Brazil which are poised to exhibit the fastest growing trend.

The specialty food ingredients market consists of various stakeholders, such as raw material producers, suppliers, ingredient processors, distributors, and end-use manufacturers such as food and beverage industries. The companies enjoying substantial market share are Cargill Inc. (U.S.), Chr. Hansen (Denmark), Royal DSM N.V. (The Netherlands), Tate and Lyle (U.K.), and DuPont (U.S.). The major players hold the largest market share in the total specialty food ingredients market thereby depicting a large number of competitive companies in the industry. The key players in the industry are launching new products and increasingly expanding in emerging economies to gain market share.

The report also touches on various other important aspects of the market. It includes an analysis of the competitive landscape and SWOT. In addition, 10 key players of this market have been profiled.