Specialty Food Ingredients Market Size

Statistics for the 2023 & 2024 Specialty Food Ingredients market size, created by Mordor Intelligence™ Industry Reports. Specialty Food Ingredients size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Specialty Food Ingredients Industry

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Specialty Food Ingredients Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 80.98 Billion
Market Size (2029) USD 104.83 Billion
CAGR (2024 - 2029) 5.30 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Specialty Food Ingredients Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Specialty Food Ingredients Market Analysis

The Specialty Food Ingredients Market size is estimated at USD 80.98 billion in 2024, and is expected to reach USD 104.83 billion by 2029, growing at a CAGR of 5.30% during the forecast period (2024-2029).

Over the medium term, the industry for specialty food ingredients essentially thrives on the wider technological and functional benefits that these ingredients confer in terms of high quality, safety, affordability, nutrition, and deliciousness of processed food products. The rise in popularity of ready-to-cook and ready-to-eat food products is driving the market for preservatives across the world. Additionally, as the "clean label" trend is thriving in many consumer product categories, Massachusetts-based biotech company, Conagen announced the launch of a natural preservative, p-Coumaric Acid (PCA), in August 2021.

Moreover, the preference for certain food products is identifiable with some consumers' identities, especially in developed economies, which drives the demand for specialty food ingredients. There is a strong correlation between the specialty food ingredient market and the processed food market, with the former conferring functional benefits and customized value-addition per the end-user applications. The globally recognized companies that manufacture specialty food ingredients utilize smart technology or intellectual property to develop innovative ingredients and solutions. However, new product development is a highly capital-intensive process.

Specialty Food Ingredients Market Size - Industry Report on Share, Growth Trends & Forecasts Analysis (2024 - 2029)