pf

Global Specialty Food Ingredients Reported to Grow to $85 Billion

Contact Author
Close
Fill out my online form.
Macaroons

The specialty food ingredients market is on the rise and is expected to grow to nearly $85 billion by the end of 2022, according to the Specialty Food Ingredients Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2022) report.

Specialty food ingredients impact taste, texture and flavor, in addition to helping extend shelf-life of processed food products. Factors such as these, along with technologies for decaffeinating coffee beans and more, has increased the popularity of this global market.

The report is divided into specialty sensory ingredients, specialty fundamental ingredients, application and geography.

Specialty Sensory Ingredient

Under the specialty sensory ingredient criteria, the market is sectioned into emulsifiers, enzymes, colorants and flavors. Enzymes will likely surpass a revenue valuation of $20 billion by the end of the 2017-2022 forecast period.

Meanwhile, the demand for colorants and emulsifiers is expected to remain close between one another in revenue contribution to the global market throughout the report’s forecast period. According to the report, the flavors segment will showcase an expansion at a rapid pace during the forecast period.

Specialty Fundamental Ingredient

This criteria is broken off into vitamins, antioxidants, minerals and preservatives. Preservatives and minerals are expected to grow high and swiftly during the forecast period. Meanwhile, vitamins are expected to record the lowest CAGR out of all the other segments in the forecast period.

Key Application Areas

Beverages, bakery and confectioneries, dairy and frozen foods, functional foods, dietary supplements, meat products, oils and fats, sauces, savory snacks and dressing and condiments all fall under application areas.

Bakery and confectioneries are expected stay in place as the largest shareholder in the global market, followed by convenience foods. The demand from the meat products and functional food, beverages and dietary supplements segments are slated to record a higher pace of expansion over the forecast period.

Geography

From a geographical point of view, the market in North America is expected to surface with the most profitable growth opportunities over the forecast period. It is slated to rise close to $24 billion by the end of 2022.