Please Wait.....
Report
Specialty Food Ingredients - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029
Market Report I 2024-02-17 I 120 Pages I Mordor Intelligence
The Specialty Food Ingredients Market size is estimated at USD 80.98 billion in 2024, and is expected to reach USD 104.83 billion by 2029, growing at a CAGR of 5.30% during the forecast period (2024-2029).
Over the medium term, the industry for specialty food ingredients essentially thrives on the wider technological and functional benefits that these ingredients confer in terms of high quality, safety, affordability, nutrition, and deliciousness of processed food products. The rise in popularity of ready-to-cook and ready-to-eat food products is driving the market for preservatives across the world. Additionally, as the "clean label" trend is thriving in many consumer product categories, Massachusetts-based biotech company, Conagen announced the launch of a natural preservative, p-Coumaric Acid (PCA), in August 2021.
Moreover, the preference for certain food products is identifiable with some consumers' identities, especially in developed economies, which drives the demand for specialty food ingredients. There is a strong correlation between the specialty food ingredient market and the processed food market, with the former conferring functional benefits and customized value-addition per the end-user applications. The globally recognized companies that manufacture specialty food ingredients utilize smart technology or intellectual property to develop innovative ingredients and solutions. However, new product development is a highly capital-intensive process.
Specialty Food Ingredients Market Trends
Escalated Demand for Fortified Processed Food
Fortified foods contain essential nutrients which enhance their nutritional value and help address a nutrient deficiency. Increasing demand for fortified foods is creating an opportunity for manufacturers, which in turn is boosting the demand for specialty functional ingredients like vitamins, minerals, protein, omega-3, and others. Consumers increasingly opted for foods and beverages with specific healthy ingredients. Fiber, protein, vitamins and minerals, calcium, probiotics, and prebiotics, are healthy ingredients that most consumers try to add to their diet. Dietary fiber ingredients are gaining attention from consumers as they are perceived as healthy, and thus demand for fiber-rich food products is increasing. For instance, in 2021, according to International Food Information Council (IFIC), the food and health survey showed that 56% of consumers actively try to consume fiber.
To cater to the rising demand, manufacturers of food additives and specialty food ingredients adapted the production of organic and fortified additives that can be helpful while developing healthy food products. These organic food additives found their applications in varied products, including egg replacement in low- and high-fat vegan food, dressings, white cooking sauces, ready meals, and other applications. Thus, food and beverage manufacturers have been increasingly reformulating their products to meet the changing consumer demand for natural ingredients. In October 2022, Roquette launched a new line of organic pea ingredients, including organic pea protein and organic pea starch adapted for non-dairy or alternative meat and specialized nutrition category. The company aimed to cater to the demand of food manufacturers, who are focused on developing products with organic ingredients to cater to consumers' growing demand for healthy and sustainable food.
North America Holds the Largest Market Share
The increasing incidence of chronic and lifestyle health issues among a significant part of the population and the growing adoption of healthier lifestyles fueled the demand for food products with functional and specialty ingredients in the region. Moreover, specialty foods are outpacing their non-specialty counterparts in almost every category due to a rise in fortified food trends. The Canadian food specialty ingredients industry has a lot of potential because of the rising demand for bakery, confectionery, and beverage products. According to the U.S. Department of Agriculture (2022), baked goods, fresh fruits and vegetables, and food preparation are among the top export commodities to Canada. Also, Health Canada has currently authorized the use of 850 distinct food additives nationwide, which drives their use in the food industry.
Additionally, the growing trend of veganism, especially in Europe and the North American region, provides food manufacturers with opportunities. Players operating in the market are establishing strategic partnerships with food manufacturers to supply various ingredients that can support food companies in developing products in line with consumer demand. In September 2022, Shiru Inc., a functional ingredient manufacturer, partnered with Puratos to develop and evaluate next-generation egg replacement. The partnership aimed to formulate new ingredient alternatives for plant-based baked foods using Shiru's protein discovery process. Shiru uses bioinformatics and machine learning to sift through millions of naturally-occurring proteins and find a potential functional ingredient.
Specialty Food Ingredients Industry Overview
The specialty food ingredients market is moderately fragmented. Major players in the market include Cargill Incorporated, Kerry Group PLC, and Koninklijke DSM NV. Product innovation and development is the most adopted strategy by the players operating in the market, followed by mergers and acquisitions and expansions for increasing their visibility and product portfolios. Manufacturers focus on providing all-natural specialty ingredients that increase the product's shelf-life and enable the manufacturer to label its products as '100% all-natural', addressing consumer demand for 'clean labels.'
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porters Five Force Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Product Type
5.1.1 Functional Food Ingredient
5.1.2 Specialty Starch and Texturants
5.1.3 Sweetener
5.1.4 Food Flavors and Enhancers
5.1.5 Acidulants
5.1.6 Preservatives
5.1.7 Emulsifiers
5.1.8 Colorants
5.1.9 Enzymes
5.1.10 Cultures
5.1.11 Proteins
5.1.12 Speciality Fats and Oils
5.1.13 Food Hydrocolloids and Polysaccharides
5.1.14 Anti-Caking Agents
5.1.15 Yeast
5.1.16 Food-Grade Glycerin
5.2 Application
5.2.1 Bakery Products
5.2.2 Beverages
5.2.3 Meat, Poultry and Seafood
5.2.4 Dairy Products
5.2.5 Confectionery
5.2.6 Fats and Oils
5.2.7 Dressings/Condiments/Sauces/Marinade
5.2.8 Pasta, Soup and Noodles
5.2.9 Prepared Food
5.2.10 Plant-based Food & Beverage
5.2.11 Other Applications
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Spain
5.3.2.5 Italy
5.3.2.6 Russia
5.3.2.7 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 India
5.3.3.3 Japan
5.3.3.4 Australia
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle East & Africa
5.3.5.1 United Arab Emirates
5.3.5.2 South Africa
5.3.5.3 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Strategies Adopted by Leading Players
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Cargill Incorporated
6.3.2 International Flavors & Fragrances Inc.
6.3.3 Tate & Lyle PLC
6.3.4 Kerry Group PLC
6.3.5 Archer Daniels Midland Company
6.3.6 Koninklijke DSM NV
6.3.7 Ingredion Incorporated
6.3.8 Sensient Technologies
6.3.9 Axiom Foods Inc.
6.3.10 Novozymes A/S
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security