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Specialty Food Ingredients Industry 2019Description:-
As per the latest study, the global specialty food ingredients market is anticipated to upscale at an impressive CAGR by the end of the forecast period of 2017-2026. The specialty food ingredients sector has performed better than any other sectors included in the food & beverages industry. This can be attributed to the rising shift noted in the market dynamics within the food & beverages industry. This shift is influenced by changing consumer preferences with a higher inclination towards organic, natural, and highly nutritious food products.
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Some Of Major Key Players :-
global manufacturers in the market include Cargill Inc., Royal DSM N.V., DuPont, Tate & Lyle, CHR. Hansen Holding A/S, Archer Daniels Midland (ADM), Kerry Group, Ingredion, General Mills, BASF, ABS Food and Givaudan.
Further, it has been noted that the relationship between specialty food ingredients and processed food products is evolving owing to higher levels of collaboration between the two owing to the innovation and product developments. This can be owed to the necessity to meet the stringent regulations imposed by governments and to meet the changing consumer trends. A large share of the global specialty food ingredients is led by a small number of players, thus creation margin and valuation opportunities across the globe.
Apart from that, specialty food ingredients also aid in higher sustainability of processed foods along with fulfilling traditional functions. These components also enhance efficiency in food processing through limiting the number of raw materials required and by making optimal use of the same. Moreover, owing to high nutritional value and other health and technological functions, the global specialty food ingredients market is expected to surge at an impressive rate.
Market Segmentation
The global specialty food ingredients market is segmented on the basis of product type, end-users, and region. Based on product type, the global specialty food ingredients market is segmented into functional ingredients, flavors, emulsifiers, enzymes, and colors. Based on end-use, the global specialty food ingredients market is segmented into convenience foods, dairy foods, confectionary & bakery foods, and meat & seafood.
Detailed Regional Analysis
The global specialty food ingredients market is segmented, on the basis of region, into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is assessed to lead the global specialty food ingredients market during the forecast period. This can be attributed to the outstanding capacity of production and an upscaling preference towards healthier food of the consumers residing in the region. North America is further segmented into the United States and Canada.
Europe is expected to fetch the second-largest share of the global specialty food ingredients during the assessment period. Europe is further studied for the sub-segments of Germany, UK, France, Spain, Italy, and Russia. Among these, the leading country-specific markets for specialty food ingredients in the region include Germany, the UK, and France.
Asia Pacific is expected to witness significant growth and garner the third-largest share of the global specialty food ingredients market. This can be attributed to the rising demand for processed foods and growth of population in the region. China, India, and Japan are spearheading the country-specific markets for specialty food ingredients in the region.
Key Players
Some noteworthy players in the global specialty food ingredients market include Cargill Inc., Royal DSM N.V., DuPont, Tate & Lyle, CHR. Hansen Holding A/S, Archer Daniels Midland (ADM), Kerry Group, Ingredion, General Mills, BASF, ABS Food, and Givaudan.
Industry Update
August 2019: Vidhi Specialty Food Ingredients recently acquired Arjun Food Colorants Manufacturing Private Limited for approximately Rs 7 crore.
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