New York
City, 21 January 2019: The global
Specialty Food Ingredients Market is
anticipated to reach USD 67.76 billion by 2026. The specialty food ingredient
sector has outperformed other wider sectors of the food & beverage
industry. This is due to the shift in dynamics within the food & beverage
industry such as the changing consumer demands for more organic, natural and
highly nutritious processed foodstuffs. Several studies have shown that the
relationship between the specialty ingredients and processed food industry are
evolving due to higher levels of collaborative innovation and product developments
to fulfill stringent regulations and new consumer trends. A larger share of the
value chain has been dominated by a relatively smaller number of ingredient
suppliers, thus creating valuation and margin opportunities globally.
 |
These products also add to higher
sustainability during processing of food, apart from offering their
conventional functions for the food stuff. The components help to increase
efficiency in food processing by limiting the quantity of raw material
requirements and making the optimum use of it. Moreover, with their
nutritional, technological and health related functions these product also
offer other advantages such as enhancement of taste, higher food safety, and
extended food choices and affordability. These factors have been crucial in
considering specialty ingredients an integral part of the food supply and hence
demand of these micro and macro constituents of food is expected to surge
substantially in the immediate future. Also, the food industry being a
innovation driven, the specialty ingredients sector is a key contributor in
enhancing the competitiveness of the entire value chain.
Competitive Landscape and Key Vendors:
Key Findings from the study suggest
that the largest share of the market in 2017 was of the Asia Pacific region.
The region has been a substantially influential market in supply of these
products to the other regions. China is one of the largest industries in the
Asia Pacific and also globally with presence of an extensively diverse
ingredient manufacturing sector with over hundreds of multinational and
national players currently operating in the country. Some of the imperative
factors for the higher growth of the regional industry include the increasing
spending power, burgeoning economies, presence of a youthful population,
growing westernization of FMCG market, increasing urbanization and a mounting
interest in health and wellness among the consumers. North America is another
significant market, which is home to most of the leading multinational
ingredient manufacturers. The U.S. is the largest producer of these products in
the region with over 85% of the companies concentrated in the country.
Some of the 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.
Read More: https://www.polarismarketresearch.com/industry-analysis/specialty-food-ingredients-market/
No comments:
Post a Comment