The global specialty food ingredients market is estimated to reach $80.3 billion by 2018 and benefits from numerous global consumer trends like ease of use, health and wellness, and clean label. The rapid urbanization in emergent markets drives the ease of use trend. The growing obesity and diabetes incidences drive consumers’ focus on an improved lifestyle and increased demand healthier ingredients in their food products.
The healthier eating trends are expected to support the steady growth in the North American specialty food ingredients market, accelerate momentum in the European market and enable Asia-Pacific to achieve the highest CAGR during the next four years. Overall, the specialty ingredients market is a dynamic growth space where product innovation will be key to increase market share.