Dive Brief:
- Persistence Market Research (PMR) and Mordor Intelligence have released reports on the global specialty food ingredients market, with forecasts to 2020.
- The market includes acidulants, flavor, food emulsifiers, food enzymes, food preservatives, starches and nutraceuticals. Nutraceuticals has the largest market share and is expected to continue to dominate.
- Driving the specialty food ingredients market is increasing urbanization in developing countries and a growing number of health-conscious consumers in North America and Europe who prefer convenience foods.
Dive Insight:
Research from Modor Intelligence estimates the total global specialty food ingredients market will reach $90 billion by 2020, up from $63.8 billion in 2014.
The estimate for the 2020 nutraceutical ingredient market is $40 billion, while the food emulsifiers market is expected to reach $3173.08 million. Modor also indicates the leading manufacturers of specialty food ingredients include Cargill and DuPont in the U.S., along with international players Chr. Hansen (Denmark), Royal DSM (The Netherlands), and Tate & Lyle (U.K.).
Based on that data and as consumers increasingly demand healthy ingredients that improve the shelf life of processed foods, companies that offer functional specialty food ingredients are likely to benefit.
