Specialty Food Ingredients Market to be Worth $266.20 Billion by 2031 - Exclusive Report by Meticulous Research

REDDING, Calif., May 15, 2024 /PRNewswire/ -- According to a new market research report titled, 'Specialty Food Ingredients Market Size, Share, Forecast, & Trends Analysis by Type (Proteins and Amino Acids, Enzymes, Flavors, Starter Cultures), Source (Natural), Application (Food {Bakery & Confectionery}, Beverages {Alcoholic})—Global Forecast to 2031,' the specialty food ingredients market is projected to reach $266.20 billion by 2031, at a CAGR of 5.8% from 2024 to 2031. In terms of volume, this market is projected to reach 83,936.1 KT by 2031, at a CAGR of 4.6% during the forecast period of 2024–2031.

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Specialty food ingredients are used to enhance the taste, texture, appearance, shelf life, and nutritional value of food products. These ingredients are primarily obtained from various natural and synthetic sources to provide specific flavors, colors, textures, and health benefits to foods that are not commonly found in major food ingredients. Moreover, these specialty food ingredients offer functional benefits essential in providing today's consumers with a wide range of tasty, safe, healthy, qualitative, and sustainably produced food. Specialty food ingredients include several enzymes, emulsifiers, flavors, colorants, acidulants, specialty starches, sweeteners, starter cultures, proteins & amino acids, vitamins, minerals, prebiotics, probiotics, hydrocolloids, essential oils, omega-3 fatty acids, carotenoids, preservatives, and other ingredients. The specialty food ingredients market has seen significant growth due to the growing adoption of convenience foods and the increasing number of health-conscious consumers.

Key Players:

The key players operating in the global Archer-Daniels-Midland Company (U.S.), Ashland Inc. (U.S.), Associated British Foods plc (U.K.), BASF SE (Germany), Cargill, Incorporated (U.S.), Chr. Hansen Holding A/S (Denmark), Givaudan SA (Switzerland), Ingredion Incorporated (U.S.), Kerry Group plc (Ireland), Koninklijke DSM N.V. (Netherlands), and Tate & Lyle PLC (U.K.).

The global specialty food ingredients market study presents historical market data (2022 and 2023), estimated current data (2024), and forecasts for 2031— by type (proteins & amino acids, flavors, hydrocolloids, specialty starches, vitamins, minerals, prebiotics, probiotics, enzymes, emulsifiers, colorants, acidulants, sweeteners, starter cultures, essential oils, omega-3 fatty acids, carotenoids, preservatives, and other food ingredients), by source (natural specialty food ingredients and artificial specialty food ingredients), by application (food {bakery & confectionery, dairy products, sauces, dressings, and condiments, snacks, breakfast cereals, meat, poultry & seafood, infant food, and other food applications}, beverage [non-alcoholic beverages {carbonated soft drinks, dairy-based beverages, sports and energy drinks, iced tea, and other beverages}, alcoholic beverages]), and by geography. The study also evaluates industry competitors and analyzes the country-level markets.