The Specialty Food Ingredients Global Market Report 2023, provides comprehensive information on the specialty food ingredients market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Specialty Food Ingredients Global Market Report 2023, the market size is expected to grow from $151.92 billion in 2022 to $162.64 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of global specialty food ingredients is expected to grow to $217.18 billion in 2027 at a CAGR of 7.5%.
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Product innovations are a key trend gaining popularity in the specialty food ingredients market. Major players operating in the specialty food ingredients sector are focused on product innovations to meet the consumer demand for sugar substitutes. For instance, in May 2020, Ingredion Incorporated, a US-based food company launched Erysta which is made from erythritol polyol. Erysta has a sweet flavor profile, unique cooling effect, and contains no calories, allowing producers to make claims about energy and sugar minimization on the packaging.
The specialty food ingredients market is segmented:
1) By Type: Functional Food Ingredients, Sugar Substitutes, F&B Starter Culture, Specialty Starches, Enzymes, Emulsifiers, Preservatives, Other Types
2) By Distribution Channel: Direct Sales, Indirect Sales
3) By Application: Beverages, Sauces, Dressings And Condiments, Bakery, Dairy, Confectionary, Other Applications
North America was the largest region in the specialty food ingredients market in 2022.
The table of contents in TBRC’s specialty food ingredients market report includes:
- Executive Summary
- Specialty Food Ingredients Market Characteristics
- Specialty Food Ingredients Market Trends And Strategies
- Specialty Food Ingredients Market – Macro Economic Scenario
- Specialty Food Ingredients Market Size And Growth
- Specialty Food Ingredients Market Segmentation
- Specialty Food Ingredients Market Regional And Country Analysis
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- Specialty Food Ingredients Market Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions In The Specialty Food Ingredients Market
- Specialty Food Ingredients Market Future Outlook and Potential Analysis
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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