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Global Specialty Food Ingredient Market to Benefit from Changing Food Consumption Preferences in Emerging Economies

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Published on : Mar 07, 2018

ALBANY, New York, March 07, 2018: The report presents a comprehensive account of the present growth dynamics of the market and the future outlook of the market over the period between 2017 and 2021. The report also discusses the key trends, drivers, and challenges affecting the overall development of the market.

A number of factors are said to have worked in favor of the overall expansion of the global specialty food ingredients market in the past years and continue to help the market expand at a steady pace in the present times as well. Some of the key drivers of the market are the rising population across the globe, escalating population of affluent middle-class people, changing demographics, and the vast rise in demand for food that can be cooked, consumed as well as packed conveniently. The changing food preferences of people across emerging economies and the increased inclination towards Western food products are also expected to have a major influence on the overall development of the global specialty food ingredient market.

The market for specialty food ingredients has expanded at a promising pace in the past few years. In ancient times, the options of food preservatives were limited to salt for fishes and meat, sugar for fruits, and vinegar for vegetables and cucumber. Other ingredients added to foods to improve their qualitative aspect or taste or lifespan included a limited range of spices and herbs. Unlike these times, the modern day consumer can choose from a wide range of products and ingredients that can add value to food products in the form of taste, color, nutritional value, and life. These additives or specialty ingredients have helped improve the storage and accessibility of a wide range of product varieties.

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Key trends witnessed in the market in the recent years include the vast rise in introduction of new varieties of food products, rising acceptance and adoption of natural ingredients, increased awareness regarding health and wellness among all demographics, increased demand for safe food products, and increased preference to exotic and new tastes. The rising demand for new food varieties from emerging economies has also emerged as one of the key trends in the global specialty food ingredients market in the recent years. However, it is estimated that the market's growth and profitability of key players in the market could be hindered due to high entry barriers, stringent regulations, concerns regarding health hazards associated with synthetic food additives, and requirement for intense research.

Specialty food ingredients are a variety of products that are added to food products with the intent of getting the desired appearance, taste, functionality, and nutritional properties. Based on such key varieties of products, the global specialty food ingredients market can be segmented into fat replacers, sweeteners, preservatives, color additives, nutrients, flavors and spices, emulsifiers, flavor enhancers, and acidulants.

The report also includes a detailed overview of the competitive dynamics of the global specialty food ingredients market. An overview of business profiles of some of the leading companies in the market is also included in the report. Companies operating in the global market profiled in the report include Kerry Group, Royal DSM, Tate & Lyle, and Dow DuPont.

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