Specialty Food Ingredients Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company’s Global Specialty Food Ingredients Market Forecast To Reach 8.3% By 2028 With $239.2 Billion Annual Growth
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The specialty food ingredients market has experienced steady growth in recent years. It is expected to grow from $162.12 billion in 2023 to $173.73 billion in 2024, reflecting a CAGR of 7.2%. This growth is attributed to changing consumer preferences, the rise of the food and beverage industry, increasing awareness of health and nutrition, globalization of food trends, and demand for clean label and natural products.
What Is the Projected Market Size of the Global Specialty Food Ingredients Market and Its Growth Rate?
The specialty food ingredients market is projected to reach $239.2 billion by 2028 with a CAGR of 8.3%. Growth is fueled by plant-based alternatives, functional foods, and convenience food expansion. Major trends include functional ingredients, global flavors, and clean meat innovations.
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What are the Key Drivers Fueling Growth in the Specialty Food Ingredients Market?
The growth of the specialty food ingredients sector is fueled by rising consumption of health-focused products. With increasing demand for healthy food options, there is a steady rise in health-conscious consumers. Sustainable diets are projected to improve gastrointestinal health, cholesterol management, bone strength, and address other health concerns. Specialty food ingredients enhance the preservation, coloring, emulsification, texture, and nutritional value of foods.
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Who Are the Key Players Driving Growth in the Specialty Food Ingredients Market?
Major companies operating in the market report are Cargill Incorporated, Archer Daniels Midland Company, BASF SE, Brenntag AG, Evonik Industries AG, International Flavors & Fragrances Inc., Ajinomoto Co Inc., Kerry Group plc, Koninklijke DSM NV, Ingredion Incorporated, Givaudan SA, Lonza Group AG, Firmenich International SA, Symrise AG, DuPont Nutrition & Biosciences, Dohler GmbH, Novozymes A/S, Ashland Global Holdings Inc.
What Are The Emerging Trends Shaping The Growth Of The Specialty Food Ingredients Market?
Product innovations are significantly shaping the specialty food ingredients industry, with major players focusing on developing innovative solutions to satisfy consumer demand for sugar substitutes.
What Are the Segments of the Global Specialty Food Ingredients Market?
1) By Type: Functional Food Ingredients; Sugar Substitutes; F&B Starter Culture; Specialty Starches; Enzymes; Emulsifiers; Preservatives; Other Types
2) By Distribution Channel: Direct Sales; Indirect Sales
3) By Application: Beverages; Sauces, Dressings And Condiments; Bakery; Dairy; Confectionary; Other Applications
Geographic Overview: North America at the Helm of the Specialty Food Ingredients Market
North America was the largest region in the specialty food ingredients market in 2023. Asia-Pacific is expected to be the fastest-growing region in the market share during the forecast period. The regions covered in the specialty food ingredients report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
How Is The Specialty Food Ingredients Market Defined?
Specialty food ingredients add specific benefits to food products, improving their quality, taste, and safety. Known as cleaner ingredients, they contribute to healthier, longer-lasting foods.
The Specialty Food Ingredients Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Specialty Food Ingredients Market Report: Trends, Opportunities, Strategies, and More
The Specialty Food Ingredients Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into specialty food ingredients market size, specialty food ingredients market drivers and trends, specialty food ingredients global market major players, specialty food ingredients competitors’ revenues, specialty food ingredients global market positioning, and specialty food ingredients market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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Oliver Guirdham
The Business Research Company
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Article originally published on www.einpresswire.com as Global Specialty Food Ingredients Market Forecast To Reach 8.3% By 2028 With $239.2 Billion Annual Growth
