Global Specialty Food Ingredients Market 2017-2021
About Specialty Food Ingredients
Specialty food ingredients, which include food colors, flavors, and preservatives, cater to specific requirements of the food and beverage industry like increasing the shelf-life, enhancing the taste, and many other purposes. Specialty food ingredients have several application segments in the food processing industry as per their need and functionality. The growth of different ingredients will vary during the forecast period depending on their demand among consumers.
Technavio’s analysts forecast the global specialty food ingredients market to grow at a CAGR of 5.25% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global specialty food ingredients market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Specialty Food Ingredients Market 2017-2021
Technavio recognizes the following companies as the key players in the global specialty food ingredients market: Archer Daniels Midland, Cargill, DowDuPont, Kerry Group, and Royal DSM.
Other Prominent Vendors in the market are: Advanced Food Systems, Bell Group, Chr. Hansen Holding, Cambrian, DMK GROUP, Fonterra Co-Operative Group, FrieslandCampina, Givaudan, Ingredion, Sensient Technologies, and Tate & Lyle.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is growing demand for natural ingredients. Health-consciousness will likely increase among consumers in the coming years, with the rising awareness of the need for food safety. At present, many research studies are being conducted to determine the effect of artificial ingredients used in food processing and preparation on human health.”
According to the report, one driver in the market is growing demand for nutraceuticals. Nutraceutical ingredients constitute one of the leading segments in the global specialty food ingredients market. Nutraceuticals, which mostly include supplements and functional food ingredients, refer to those ingredients that provide extra health benefits in addition to the basic nutritional needs. There is an increased demand for these ingredients owing to the rising health concerns due to hectic lifestyle of individuals across the world.
Further, the report states that one challenge in the market is high prices of nutraceutical ingredients. The food packaging and processing industry is growing at a rapid rate, owing to the improving economic conditions and the rapid pace of globalization across the world. Owing to the rising awareness of the importance of well-being and maintaining health, there has been a surge in demand for nutraceuticals. Nutraceutical ingredients constitute the leading segment of the global specialty food ingredients market. However, the high prices of nutraceutical ingredients pose a challenge for the global market's growth.
Archer Daniels Midland, Cargill, DowDuPont, Kerry Group, Royal DSM, Advanced Food Systems, Bell Group, Chr. Hansen Holding, Cambrian, DMK GROUP, Fonterra Co-Operative Group, FrieslandCampina, Givaudan, Ingredion, Sensient Technologies, and Tate & Lyle.
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