Globally, the demand for specialty ingredients is increasing, due to their rising applications in the processed food industry. Specialty ingredients also play an important role in the personal care industry, which has been experiencing an increase over the past years.
Increasing urbanization coupled with rising disposable income is leading to the deeper penetration of convenience food and packaged food items, which is consequently increasing the demand for specialty ingredients in the market. Specialty ingredients are mostly used for enhancing the properties of food products, such as imparting flavour, improving texture, and increasing shelf life, which is the major reason for a rise in the demand for specialty ingredients in the market.
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The rising rate of obesity and diabetes in both, developing and developed countries, is leading the consumers to focus more on healthier lifestyles. North America is the largest shareholder in the global specialty ingredients market, and is expected to dominate the market over the forecast period, owing to the increased consumption of processed food in this region.
Specialty Ingredients Market: Market Segmentation
On the basis of nature, the global specialty ingredients market has been segmented as:
On the basis of type, the global specialty ingredients market has been segmented as:
- Antioxidants
- Colorants
- Emulsifiers
- Enzymes
- Flavours
- Minerals
- Preservatives
- Vitamins
On the basis of end use, the global specialty ingredients market has been segmented as:
- Food and Beverages
- Bakery
- Confectionery
- Beverages
- Dietary Supplements
- Convenience Foods
- Dairy & Frozen Foods
- Functional Foods
- Meat Products
- Personal Care
- Nutrition and Health
- Nutraceutical Ingredients
- Active Pharmaceutical Ingredients
On the basis of distribution channel, the global diabetic food market has been segmented as:
- Direct
- Indirect
- Hypermarkets
- Supermarkets
- Convenience Stores
- Specialty Retail Stores
- Online Retailers
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Global Specialty Ingredients Market: Market Participants
The key market participants identified across the value chain of the global specialty ingredients market are
- Evonik
- Archer Daniels Midland Company
- PPG Industries
- KF Specialty Ingredients
- Koninklijke DSM N.V.
- Specialty Commodities Inc.
- Ingredion Incorporated
- Prinova Group
- LLC
- Naturex
- Kerry Group Plc
- E. I. Dupont De Nemours and Company
- Cargill Inc.
- Frutarom
- Woodland Foods Inc.
- Tate & Lyle Plc
- AmTech Ingredients LLC
- Roquette Frères S.A.
- Vidhi Specialty Food Ingredients Limited
- Sensient Technologies Corporation.
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Opportunities for Specialty Ingredients Market Participants
In the present scenario, the specialty ingredients market is witnessing a boost, owing to the increasing awareness among consumers about the benefits of these specialty ingredients in their diets. The specialty ingredients market is also influenced by the growth of the processed food industry, due to a wide range of applications of specialty ingredients in various processed food products.
Recent trends show that, innovations driven by evolving consumer and market needs have fuelled the demand for personal care products, and consequently increased the demand for specialty ingredients in the market. Owing to consumer shift from synthetic to natural ingredient-based products, there is a vast opportunity for the supply side participants of the specialty ingredients market to capitalize on this trend and introduce products in the natural specialty ingredients segment.
Due to the increased awareness about the availability of these ingredients and products based on specialty ingredients, the North American market has the largest share in the specialty ingredients market.
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