(Food-Beverage-News.Com, September 17, 2017 ) According to the report Asia Pacific Specialty Food Ingredients Market, published by Market Data Forecast, the Market has been estimated at USD 11.33 Billion in 2016 and is projected to reach USD 15.82 Billion by 2021, at a CAGR of 6.9% during the forecast period from 2016 to 2021. Specialty Food ingredients provide unique color, textures, nutrients, functionalities and flavors to the cooked or processed food products. They are added to enhance taste and flavor to the processed food items. Specialty food ingredients are able to meet customer’s demands owing to their unique features including processing aids, coloring, preservation, emulsification and nutritional enhancement.
The market for Specialty Food Ingredients in Asia-Pacific is mainly driven due to changing consumer consumption trends towards health and wellness food products, increase in demand for personal care products, and increasing per capita revenue in emerging economies. But, the market growth can be constrained due to factors like food security concerns, regulations, limited raw material accessibility, expenditure and scientific barrier.
Asia-Pacific market for Specialty Food Ingredients is segmented based on Ingredients and Application. By ingredients, the market is further sub-segmented into Functional Food Ingredients, Sugar Substitutes, Flavors, Specialty Starches, Acidulants, Preservatives, Emulsifiers and Colors, Enzymes, F&B Starter cultures, Nutraceuticals. By Application, the market is further sub-segmented into Bakery & Confectionery, Beverages, Dairy & Frozen foods, Convenience foods, Meat Products & Functional Foods and Beverages, Dietary Supplements. Functional Food Ingredients segment dominate the market with largest share and demand, while, Nutraceuticals segment is escalating in the market with high CAGR.
Geographically, Asia-Pacific market for Specialty Food Ingredients is segmented into China, India, Japan, South Korea and Australia. The Specialty Food Ingredients market in the Asia-Pacific region is projected to grow at the highest CAGR, which is greatly due to economic growth and the shift of the preferences of the consumers towards value added food. The rapidly developing food and beverage sector and leading market players introducing numerous specialty ingredients is driving the market in this region.
Archer Daniel Midland, Royal DSM N.V., Kerry Groups, Cargill Inc., E. I. DuPont de Nemours and Company, Givaudan Flavors, Sensient Technologies, CHR. Hansen, Ingredion Incorporated, and Tate & Lyle PLC are the major players of Asia-Pacific Specialty Food Ingredients market.
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