Amidst rising consumer demand for wholesome and natural food options, the specialty food ingredients market, valued at approximately US$75 billion as of 2021, is poised for significant expansion. One of the key factors propelling this growth is the accelerated shift towards natural colorants in food and beverages.
With a growing number of consumers advocating for clean and transparent labeling, theres an uptick in preference for organic and natural colorants, known for their safety profile and health benefits. Unlike synthetic alternatives, natural colorants, derived from renewable sources, enhance food products visual appeal without compromising consumer health. For instance, the adoption of beetroot for its dual role in providing a desirable pink hue and supporting cardiovascular health underscores this trend. This shift is not only satisfying consumer desire for health-enhancing ingredients but also propelling substantial growth in the specialty food ingredients market.
Sensory Specialty Ingredients Experience an Upsurge
Sensory specialty food ingredients, critical in enhancing the aroma, taste, and texture of food products, are witnessing a surge in both demand and sales. These ingredients are integral to the burgeoning convenience and packaged food sectors. Particularly, natural flavor enhancers are gaining traction, driven by consumer cravings for innovative and organic taste experiences. This preference for sensory ingredients, especially organic, is projected to significantly bolster the market segment.
North America Emerges as a Leader in Specialty Food Ingredients Adoption
The specialty food ingredients market sees North America at the forefront of its expansion. The regions escalating health issues related to lifestyle choices, such as obesity and diabetes, are prompting a widespread movement towards healthier, regulated diets incorporating specialty ingredients. This trend is particularly evident in the burgeoning ready-to-eat and convenience food sectors.
Moreover, the North American markets gravitation towards gluten-free, natural, and organic foods is further accelerating the demand for specialty food ingredients. In response, sectors such as meat and poultry are reformulating products to include these sought-after ingredients, thereby enhancing nutritional value and overall food quality.
Competitive Landscape Heats Up Among Key Players
To capture a larger market share, key players in the specialty food ingredients sector are engaging in strategic mergers, acquisitions, and product launches. For example, Divi’s Nutraceuticals recently launched CaroNat, a naturally sourced specialty food ingredient offering a unique coloration palette for various food products and beverages. Similarly, Cargill Inc. introduced a specialty sweetener, C?TruSweet 01795, catering to the demand for reduced-calorie food options.
Furthermore, the recent merger between DuPont’s Nutrition & Biosciences Business and International Flavours & Fragrances highlights the intensifying competition. This strategic move positions International Flavours & Fragrances to capitalize on burgeoning opportunities in the food, personal care, and health and wellness sectors, with an enriched portfolio of specialty ingredients.
Major market participants, including Cargill Incorporated, DuPont de Nemours Inc., International Flavours & Fragrances, Kerry Group PLC, Koninklijke DSM NV, ADM, Nutriati, Amco Proteins, Ingredion, Tate & Lyle, and Crespel & Dieters, are at the vanguard of propelling the specialty food ingredients industry into its next phase of growth.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa):
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