Technavio analysts forecast the global specialty food
ingredients market to grow at a CAGR of over 5% during the forecast
period, according to their latest report. The research study covers
the present scenario and growth prospects of the global specialty
food ingredients market for 2017-2021.
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Technavio has published a new report on
the global specialty food ingredients market from 2017-2021.
Specialty food ingredients market at a glance
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. During the forecast period, APAC
will be the largest contributor to the global market in terms of
volume. This is because of the use of several natural ingredients
derived from various plants, which come under the category of
nutraceutical ingredients, in traditional health remedies and
treatments. China and India will lead the market for nutraceutical
ingredients during the forecast period.
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Technavio analysts highlight the following three factors that
are contributing to the growth of the global specialty food
ingredients market:
- Demand for specialty food ingredients
in food processing industries
- Growing demand for nutraceuticals
- Continuous innovations driving the
demand for specialty food ingredients
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Demand for specialty food ingredients in food processing
industries
With the rise in demand for convenience, ready-to-eat, and
packaged foods, the demand for specialty food ingredients has also
increased. With a wide range of applications in the food processing
industry, specialty food ingredients are used for several purposes.
They are the basic ingredients in many processed foods.
Manjunath Jaganathan, a lead food research analyst at Technavio,
says, “Processed food products require special preparation and
packaging techniques so that they are consumable even after several
days of manufacturing. This can only be made possible with the use
of specialty food ingredients. While specialty food ingredients
like preservatives and enzymes are used to increase the shelf life
of food products, ingredients like color, flavors, starches, and
others constitute the basic requirements for preparing processed
food products.”
Growing demand for nutraceuticals
Nutraceutical ingredients constitute one of the leading segments
of 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.
“Nutraceutical ingredients are used in the preparation of many
dietary and health supplements, which can be consumed in the form
of a pill, powder, or capsule. They are used to address the
deficiency of certain specific vitamins or minerals in the body as
well as to prevent certain diseases,” adds Manjunath.
Continuous innovations driving the demand for specialty food
ingredients
There are continuous innovations going on in the global
specialty food ingredients market. Innovations are mostly targeted
at making the ingredients better and in accordance with the
changing trends. With the rising awareness among consumers
regarding health and food safety, vendors are currently focusing
more on producing sustainable, safe, and clean-label products.
Most specialty food ingredients, like preservatives,
emulsifiers, and enzymes, which are used extensively in the food
and beverages industry, are artificial. As such, vendors are now
focusing on finding the natural substitutes for these ingredients,
so that they do not have any negative impact on one's health. The
natural variants of specialty food ingredients like sugar
substitutes are already available in the market (stevia is one of
the most commonly used natural sugar substitutes).
Top vendors:
- Archer Daniels Midland
- Cargill
- DowDuPont
- Kerry Group
- Royal DSM
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Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS:
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