Specialty food ingredients refer to ingredients that are used to enhance tastes, textures, aromas or provide functional benefits like preservatives or emulsifiers. These ingredients aid in improving the quality, shelf life and appeal of the final food product. From natural colors and flavors to specialty starches and fibers, these value-added ingredients help address nutritional demands while enhancing flavors.
The Specialty Food Ingredients Market is estimated to be valued at US$ 155.2 Bn in 2024 and is expected to exhibit a CAGR of 5.4% over the forecast period from 2024 to 2031.
Key Takeaways
Key players operating in the Specialty Food Ingredients Market Growth are Naturex, Givaudan, Eli Fried Inc., KF Specialty Ingredients, Ingredion, Associated British Foods Plc, Kerry Group, Agropur Cooperative, Ashland Inc, Archer Daniels Midland Company, Cargill Inc., Wild Flavors GmbH, DSM, Diana Group SA, Tate & Lyle, CHR. Hansen, ICL, and SubNutra. Specialty ingredients help manufacturers streamline production and gain a competitive edge by addressing the needs and interests of today's conscious consumers.
Key players operating in the specialty food ingredients are leveraging their expertise and expanding their product offerings to capitalize on the significant growth opportunities in the market. For instance, Naturex recently launched Citrorine, a plant-based solution that delivers an authentic lemon flavor note while reducing bitterness.
The growing demand for convenience foods and beverages is fueling the demand for specialty ingredients. Specialty food ingredients allow manufacturers to develop new products and shorten production time. The increased consumption of packaged foods and ready-to-eat meals is driving huge demand.
The specialty foods ingredients market is expanding globally with key players increasingly focusing on emerging economies. Factors such as changing lifestyles, rising disposable incomes, and growth of the food processing industry in Asia Pacific and South America are compelling companies to extend their global footprint to tap into new opportunities.
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