Global Specialty Food Market Overview:
Food ingredients provide cooked or processed food products with unique colors, textures, nutrients, characteristics and flavors. Special food ingredients are used by the food and beverage industry to improve the taste and taste of processed foods. These food ingredients are able to meet the demands of customers with their unique characteristics, which include processing aids, coloring, preservation, emulsification and nutritional improvement. In addition, they help improve the shelf life, stability and texture of food products. Specialty food ingredients are sold primarily to the food processing industry, including large food manufacturing companies, as well as medium-sized companies. The global specialty ingredient market was valued at USD 6.57 billion in 2016 and is expected to grow at a CAGR of 6.31% during the forecast period of 2018-2023.
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Global Specialty Food Market Drivers and restraints:
The global market for specialty food ingredients is expected to grow at a rapid pace as consumers become aware of healthy foods and the increasing use of natural products. The main driver of the world market of specialized food ingredients must be its ability to improve the quantity and quality of a finished food product and lead to the production of an improved consumer product. In addition, the growing middle class population and the growing demand for higher quality food products should also stimulate market growth in the coming years of the forecast period.
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Global Specialty Food Market Geographical segmentation:
From a geographic perspective, the global market for specialized food ingredients can be segmented into key regions such as North America, Western Europe, Latin America, Eastern Europe, Asia Pacific, and the Middle East and Africa. The market for specialty food ingredients in North America is expected to dominate the market due to its excellent production capacity and the growing preference of consumers in the regions for a healthier diet. This growth must be followed by Europe and the Asia-Pacific region.
Key players in the Global Specialty Food Market:
Archer Daniels Midland, Tate & Lyle PLC, Prinova Group, LLC, Roquette Freres SA, Ingredion Incorporated, Cargill Inc., Specialty Commodities Inc. and EI Dupont De Nemours Company, Sensient Technologies Corporation, AmTech Ingredients LLC, Koninklijke DSM NV, Specialty Ingredients KF, Woodland Foods Inc., Kerry Group Plc and Vidhi Specialty Food Ingredients Limited.
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