According to the research report titled ‘Global Specialty Food Ingredients Market - Analysis By Type, Application, By Region, By Country (2020 Edition): Market Insights, Covid-19 Impact, Competition and Forecast (2020-2025)’, available with MarketStudyReport, global specialty food ingredients market was valued at USD 47,642.38 million in the year 2019 and is projected to grow notably during the forecast timespan of 2020-2025.
 

Growing demand for plant-based meat products for medical reasons and to maintain a healthy lifestyle, along with evolving technology, nutrition and taste convergence, expanding convenience food sector, and increasing end users' applications are propelling global specialty food ingredients market growth.
 

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Rising number of R&D activities for healthy products is driving up demand for specialized food ingredients such as antioxidants, proteins, vitamins, and minerals around the globe. Surging demand for food safety and extended shelf-life and processed or convenience food are expected to further push demand for specialty food ingredients.
 

Talking about COVID-19 impact, the industry value chain was disrupted significantly, shifting market participants’ focus on lowering production costs to maintain competitive prices and manage healthy revenue cycles.
 

Nonetheless, growing awareness about the benefits of adding plant-based foods to one's diet, as well as the demand for better, nutrient-dense processed foods, will continue to boost demand for specialty food ingredients across the globe.
 

With respect to type, global specialty food ingredients industry is segmented into antioxidants, beans and pulses, vitamins and minerals, flavors, extracts and colors, sweetening solutions, protein, fat, emulsifiers and stabilizers, others. Among these, vitamins and minerals segment is likely to expand considerably owing to their applicability in a variety of cuisines as a subtype of specialty food component.

Based on application, beverages hold the largest market share. Meanwhile, bakery and confectionary segment as the demand for processed, baked, and healthier food products is growing at a rapid pace. In addition, the industry is expected to be bolstered by increasing demand for various types of sauces, condiments, and flavored products.
 

From a regional perspective, North America accounts for the largest portion of global specialty food ingredients market share, due to surging demand for healthier food products to meet the needs of a growing number of patients with chronic heart disease, diabetes, and blood pressure illnesses.
 

Meanwhile, Asia Pacific market is expected to grow notably in the ensuing years due to expanding customer knowledge, burgeoning patient population, and widespread use of specialty food nutrients in infant food and nutritional supplements.
 

Considering the competitive landscape, DuPont de Nemours Inc., Tate & Lyle plc, Koninklijke DSM NV, Cargill Inc., Kemin Industries, Sensient Technologies Corp., Ingredion Inc., KF Specialty Ingredients, Archer-Daniels-Midland Co., and Givaudan SA are the major contributors to the industry progression.