Global Specialty Ingredients Market: By Product Type (Sweeteners, Emulsifiers, Flavors, Functional Food Ingredient, Preservatives, Protein, Texturants, Yeast, Enzymes, Acidulants, and Others), By Distribution Channel (Bakery & Confectionery, Beverages, Dairy & Frozen foods, Meat Products & Functional Foods, Convenience Foods, and Others), and Geography - Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2017 and Forecast 2018-2024
Global specialty ingredients market was valued at USD XX Mn and expected to grow at XX% Compound Annual Growth Rate (CAGR) over the 2017 to 2023.
Market Outline: Specialty Ingredients Market
Food ingredients provide various functionalities, taste, texture, flavor, and color to the food. Specialty ingredients are used in the food and beverage industry enhance the taste and flavor of the processed food. They also help in enhancing shelf-life and stability of the food product.
Market Dynamics: Specialty Ingredients Market
Increase in the urbanization is the key factor attributed for the growth of the market. The change in lifestyle along with change in food habits is driving the growth of the market. Increase in demand for high quality food products and developing technologies are also playing a vital role in the growth of the specialty ingredients market. The soaring demand of ready-to-use food products are boosting the growth of the market. However, the stringent government regulations are hampering the growth of the market.
Geographically, global specialty ingredients market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America specialty ingredients market is dominant market when compared with that of the other regional markets. The increase in the preference of the tasty and convince food is the major factor enhancing the growth of the specialty ingredients market in this region. The Europe follow North America in the global specialty ingredients market. Asia Pacific specialty ingredients market is expected to grow exponentially over the forecast period owing to the growing economies such as China, India, and Japan. The foray of the manufacturers in the emerging countries is expected to boost the growth of the market.
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