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September 16, 2021, New York, USA - Specialty Food Ingredient: Introduction
Specialty food is the unique food ingredient that provides unique color, nutrients, texture, functionalities, and flavors to cooked or processed food products. Specialty food ingredients are added to enhance the flavour and taste of the processed food items.
There are various types of Specialty food ingredients such as sweeteners, Flavors, Acidulants, preservatives, emulsifiers, Colour, Enzyme, Culture, Proteins, Specialty Oil, Yeast, Functional Food Ingredient, Specialty Starch and Texturants, etc.
Food and beverage industry use Specialty food ingredient to enhance taste and flavour to the processed food. Because of its unique features such as processing aids, coloring, preservation, emulsification, and nutritional enhancement, the Specialty food ingredients are able to meet the customer's demands.
It also helps in the enhancement of shelf-life, stability, and texture of the food products. Food processing industries, including large food manufacturing companies and medium-sized companies, are the consumers of Specialty food ingredients.
Benefits of Specialty Food Ingredient:
It provides unique color, functionalities, and texture to the food.
It adds nutrients and flavors to cooked or processed food products.
It helps in enhancing the shelf-life, texture, and stability of food products.
The Global Specialty Food Ingredient Market Forecast:
Over The Forecast Period 2021 to 2025, the Global Specialty Food Ingredients Market is estimated to grow at a CAGR of 5.8%.
Shifting consumer preferences, increasing health awareness, a growing millennial population, and an increase in supplementary income are all key factors driving the market. Key players in the industry see new opportunities due to the convergence of key industry trends. The key drivers of specialty food ingredient demand are changing lifestyles and the high prevalence of chronic illnesses.
The sector for specialized food ingredients basically prospers on the wider technological and practical advantages that these active ingredients give, in regards to high quality, safety and security, price, nutrition, and deliciousness of the refined food.
Some consumers are now more likely to prefer certain food products, particularly in developed countries. This is driving demand for specialty ingredients. The specialty food ingredient market is closely related to the processed food market. The former offers functional benefits and custom value-addition depending on the end-user applications.
Smart technology and intellectual property are used by internationally recognized companies that operate in the specialty food ingredient market to create new ingredients and solutions. But, product development can be costly.
Market Trend and Dynamics of the Global Specialty Food Ingredient Market:
Food is no longer considered a status symbol, and the fear of hunger has disappeared from consumer consciousness with the advent of industrial agriculture. Although the abundance of food has made it possible to eliminate the relationship between calories and social status, it has been greatly reversed.
People have easy access to high-calorie, low-cost, fast food and ready meals in many developed countries. The average body mass index (BMI), has risen across all developed countries and the rest of the world. According to the World Health Organization, 30-70% of European adults are overweight. In contrast, 10-30% of adults are affected by obesity.
According to WHO, 1 in 3 11-year-olds in Europe is either obese or overweight. Arla Foods claims that female consumers are the next major market for food and drink companies. According to the same, 75% of women are the primary shoppers in their households.
The Key Market Segmentation of the Global Specialty Food Ingredient Market:
Global Specialty Food Ingredient Market can be divided into Product Types, Applications, and Geographical landscapes, etc.
Global Specialty Food Ingredient Market Segmentation By Product Type:
Functional Food Ingredient
Specialty Starch and Texturants
Global Specialty Food Ingredient Market Segmentation By Product Application:
Sauces, Dressings, and Condiments
Dried Processed Food
Frozen/Chilled Processed Food
Sweet and Savory Snacks
Global Specialty Food Ingredient Market Segmentation By Geographical Landscape:
The Middle East and Africa
Major Key Players in the Global Specialty Food Ingredient Are:
Archer Daniel Midland
Royal DSM N.V.
I. DuPont de Nemours and Company
FDL Ltd (UK)
Crespel & Dieters (Germany)
Axiom Food (US)
Tate & Lyle PLC
Amano Enzymes (Japan)
Amicogen (South Korea)
Omega Protein (US)
Enzyme Supplies (UK)
The Covid-19 Impact Analysis:
In the first few months of lockdowns, the COVID-19 pandemic disrupted market growth. Despite the increasing demand for specialty ingredients, key organizations and players such as Shaanxi Plant Association reported an inability to combat logistical concerns.
The market has been recovering, and the impact of the pandemic has been minimal over the last few months. This was because the food & beverages sector continues to face new challenges every day, with supply chain disruptions being a major one.
The Global Specialty Food Ingredient Market Report Highlights:
Flavors will be the fastest-growing sensory ingredient. This market is innovative, technical, and specialized in its nature. Its growth parameters include changing lifestyles of consumers and increased demand for convenience foodstuff.
In 2016, the largest segment of functional constituents was vitamins. End products can use both synthetic and natural vitamins.
In 2016, 34% of total revenue was accounted for by the Asia Pacific region.
Frutarom, Naturex, KF Specialty Ingredients, Ingredion, DuPont, PPG Industries, Evonik, Kerry Group, and Ashland are major players in the specialty foods ingredients market.
This industry is thriving because of the role played by regulatory agencies. NSF/ANSI sets out labeling and marketing requirements for organic ingredients in dietary products. This standard permits the use of the "contains Organic Ingredients" label for products that have a minimum organic content of 70%. It also complies with all other standards.
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