Specialty Food Ingredients Market

Date: 2016-05

Specialty food ingredients are an essential part of a wide range of food products. Food ingredients have been used since many years to flavor, preserve, blend, color and also to maintain the nutritional content of the food. Specialty food ingredients are majorly sold to food processing industry including large food manufacturing companies as well as medium-sized companies. The specialty food ingredients find major applications in bakery & confectionery, fruits & vegetables, dairy, beverages, vegetable & animal oils, meat & marine foods etc.

Nutritional food ingredients have the largest market share for specialty food ingredients, and are expected to dominate the global market in forecasted period. Increasing urbanization and growing consumer preference for processed foods is driving the specialty food ingredients market. Companies by introducing functional food ingredients have increased the demand as they keep the nutrient value intact. The growing brewery industry and the occurrence of high complexity of procedures increase the demand for enzymes and starter cultures.

Specialty food ingredients market was valued $XX Billion in 2015 and is projected to reach the value of $XX Billion by 2021, at a CAGR of XX% from 2015 to 2021. The market is driven by the increasing Research and Development (R&D) and technology innovations, growing need for convenient foods which quickly suffice the need for the moment, nutritional and tasty foods, and vast emergence of end product applications.

The latest technologies that aid in qualifying the specialty ingredients are encapsulation technologies such as spray drying, chilling, fluidized bed coating, nano-encapsulation, bio-encapsulation, micelles, ribosomes, and many others.

There is a strong co-relation seen between the trends of the global Specialty Food Ingredients Market and the global processed food and beverage markets. The key aspect for this co-relation is the role played by the specialty food ingredients applications. The main driving forces for the growing market are the advanced technology, nutrition and taste convergence, rise in convenience food sector and growing end users applications.

Changing consumer consumption trends towards health and wellness food products shows increased purchasing power of the individual. This provides ample growth opportunity for the food manufacturing companies to expand their market in healthy food product. Rising rate of diabetes and obesity in both developed and developing countries, provoke the consumer to focus more on healthier lifestyles, in turn demand for health and wellness food ingredients from food and beverage manufacturing companies.

North America has the largest market share for specialty food ingredients followed by Europe and Asia Pacific. North America is expected to dominate the global market due to the increasing consumption of processed food in the U.S and Canada. Healthy eating habit is expected to boost the specialty food ingredients market in Europe. Asia Pacific region is expected to witness higher growth in the coming future.

Increasing Concern over Obesity among Consumers Propels the Demand for Low Fat Specialty Ingredients

Important exceptions for low fat foods are refined carbohydrates, like white bread and white rice. Starchy foods with highly processed grains that have been stripped of dietary fiber, act like sugar in the body. They are rapidly digested and absorbed, raising blood levels of glucose and prompting the secretion of insulin to process it. Healthy fats can be obtained from fruits, vegetables nuts and seeds. Raw, naturally occurring, plant based fats should be eaten every day.

With the changing lifestyle, people are more addicted to the packaged and processed food, which eventually generates fat and hence leads to obesity among people. So there is a rising demand for the specialty food ingredients, which eventually lead to balanced food and low consumption of fat.

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