(Entertainment-NewsWire.com, September 26, 2017 ) According to the report Europe Specialty Food Ingredients Market, published by Market Data Forecast the Market has been estimated at USD 13.91 Billion in 2016 and is projected to reach USD 17.83 Billion by 2021, at a CAGR of 5.10% during the forecast period from 2016 to 2021. Specialty food ingredients are an essential part of a wide range of food products. These food ingredients have been used since many years to flavor, preserve, blend, color and also to maintain the nutritional content of the food.
The market for Specialty Food Ingredients in Europe is mainly driven due to changing lifestyle which is making people more addicted to the packaged and processed food, which eventually is leading to obesity among people. Due to this, people are resorting to balanced food and low consumption of fat, which is increasing the demand for Specialty food ingredients. But, the market growth can be restrained due to high price of raw materials and processing equipment, and also strict regulations on the consumption levels by food administration bodies.
Europe 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, Europe market for Specialty Food Ingredients is segmented into U.K., Germany, Spain, France and Italy. Europe is the second biggest market in terms of market share across the globe. With high organized retail penetration, U.K. is seen as saturated market for processed foods. Technological developments are considered as the strongest factor leading to the growth of the specialty food ingredients market. As a result, the industry is expected to progress at a steady growth rate 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 Europe Specialty Food Ingredients market.
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