Owing to this, the IndustryARC’s analysts’ evaluated the global specialty food ingredients taste market share to be $43 billion in 2018. And, the propelling opportunities are expected to grow the market at a CAGR of 6% during the forecast period 2019-2025.The IndustryARC’s latest business intelligence report titled “ [FURL=https://www.industryarc.com/PressRelease/1517/Specialty-Food-Ingredients-Market-Research.html]Specialty Food Ingredients Market[/FURL] : By Type (Flavors, Acidulant, Colors, Enzymes, Emulsifiers/Stabilizers, Food Preservatives and Others); By Application (Bakery & Confectionery, Dairy Products, Meat Products, Savory & Salty Snacks, Beverages and Others); &By Geography Forecast (2019-2025),”
Specialty Food Ingredients Market: Leading Segments
North America accorded the largest regional specialty food ingredients market share of 36% in 2018. Owing to the growing concerns regarding the splendid capacity of production, and healthier food habits in countries such as the United States and Canada.
On the other hand, the key application cited by the IndustryARC’s analyst is in bakery and confectionery. Due to the higher demand for flavors, emulsifiers, and colors various products such as bread, pastries, etc., are strengthening the market. Owing to immense use in bakery and confectionery, the specialty food ingredients market is predicted to observe growth at a CAGR of 5.80% through to 2025.
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Specialty Food Ingredients Market: Growth Drivers and Market Trends
Innovative product offerings make it a necessity for the manufacturers to use the specialty food ingredients for their customized and functional value addition as per the ultimate consumers’ preference. This trend has been driving the growth of the specialty food ingredient market.
The growing end-user industries such as bakery and confectionary, and functional food and beverages are nourishing the growth of the special food ingredients market. The change in lifestyle of the people and inclination towards the taste and preference and healthy food is influencing the market growth.
Another up surging trend in the specialty food ingredients market is the incorporation of vitamins and antioxidants in food supplements and edible oils in order to enhance the nutritional value of the food items.
The growing population is converting themselves to plant-based specialty food ingredients consumers, owing to the increasing consumption of organic and vegan food.
Specialty Food Ingredients Market: Competitive Landscape
Some of the key companies identified in the report that are currently holding majority shares in the global specialty food ingredients market are Cargill, Incorporated, CHR Hansen Group, Koninklijke DSM N.V., The Archer Daniels Midland Company, E. I. Du Pont de Nemours and Company, Kerry Group, Ingredion Incorporated, Tate & Lyle, Naturex S.A., and Prinova Group LLC.
About IndustryARC: IndustryARC is a research and consulting firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.