The market for specialty food ingredients is estimated at USD 179.8 billion in 2023; it is projected to grow at a CAGR of 6.0% to reach USD 240.9 billion by 2028. Due to population expansion, specialty food ingredients are experiencing huge demand across the world. Some of the key factors boosting demand for specialty food ingredients are the introduction of new products, increasing consumer preference, and the acceptance of new trends across the globe.
Major manufacturers in this market are based in North America and Europe. ADM (US), DSM (Netherlands), International Flavors & Fragrances Inc. IFF (US), Kerry Group plc. (Ireland), Givaudan (Switzerland), Cargill, Incorporated (US), Sensient Technologies Corporation (US), Ingredion. (US), Chr. Hansen Holding A/S (Denmark), and Tate & Lyle (UK) are among a few leading players operating in the specialty food ingredients market. These players have adopted various growth strategies to strengthen acquisitions, and new product development activities to further expand their specialty food ingredients market presence.
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ADM (Archer Daniels Midland) is a world leader in agricultural origination and processing, human and animal nutrition, and food safety. ADM, which has its corporate headquarters in Chicago, Illinois, is well-known and active on all six continents, connecting crops to markets across the world. The organization is able to meet a variety of needs in industries like food, drinks, health, wellness, and more due to its broad range of abilities, vast insights, facilities, and logistical knowledge.
The scope of ADM's operations includes obtaining agricultural commodities and processing them into a wide range of goods. The company is a major global supplier of ingredients for sustainable nutrition. ADM offers the most comprehensive range of food and beverage solutions in the business, ranging from traditional ingredients like flour, oils, and sugars to innovative substitutions like plant-based meat and dairy.
In September 2022, ADM opened a new extrusion facility in Serbia to meet the rising demand for non-GMO textured soy proteins in Europe. The facility is an outcome of ADM's acquisition of SojaProtein, a European provider of non-GMO soy ingredients. With the combined efforts of ADM and SojaProtein, the facility expands ADM's presence in Europe and enhances its production capabilities for non-GMO textured soy, including origination and extrusion.
DSM was established in 1902 and is a multinational, purpose-driven, science-based firm that operates on the Euronext Amsterdam exchange. The business is a leader in the bioscience, nutrition, and health industries. The primary objective of DSM is to address some of the most important concerns facing the globe while also producing profitable development. DSM wants to create economic, environmental, and societal value for all stakeholders by providing innovative goods and solutions.
DSM aims to achieve profitable growth while maintaining its basic principles of respect, integrity, and sustainability. The company's dedication to financial success, preservation of the environment, and societal impact are clear indications of its commitment to generating shared benefits for all stakeholders.
In the world of food ingredients, DSM Specialty Food Ingredients is a well-known supplier of a wide variety of ingredients. Yeasts, enzymes, cultures, bio-preservatives, hydrocolloids, specialized proteins, and sugar substitutes are just a few of the products in our extensive portfolio. It helps esteemed customers meet the distinctive flavor profiles and dietary needs of consumers by utilizing these substances. At the same time, they are dedicated to reducing the burden on the planet's finite resources and lowering the food industry's negative environmental effects. DSM Specialty Food Ingredients gives food producers the resources they need to develop goods that not only cater to consumer demands but also help build a more sustainable future.
In October 2021, DSM announced the acquisition of First Choice Ingredients for an enterprise value of USD 453 million. This acquisition will further accelerate the growth of First Choice Ingredients by offering their products outside the US to DSM’s broad global customer base and integrating their solutions in DSM’s full offering on taste, texture, and health in sustainable solutions for Food & Beverage customers.
Cargill, Incorporated engages in the manufacturing and marketing of food ingredients, agricultural products, risk management, financial, and industrial products, and services worldwide. The company comprises 75 businesses, which are classified into four key segments: agriculture, food, financial services, and industrial. It provides products and services for animal nutrition and feed, commodity trading and processing, industrial/bio-industrial products, energy and fuels, farmer services, financial and risk management, food and beverage ingredients, health and personal care, and salt. The company was recently recognized for driving global progress on farm animal welfare. Cargill operates in 67 countries through its subsidiaries and affiliates.
The company’s primary focus lies in continually elevating the quality and health benefits of their ingredients, while also expanding their resources to meet the growing demand. By leveraging their expertise, DSM Specialty Food Ingredients is committed to providing innovative solutions that improve ingredient quality, enhance nutritional value, and contribute to the overall well-being of consumers over the globe. For instance, in June 2020, Cargill launched a new plant-based protein ingredient brand, PlantEver, in China. This will help the company cater to consumer demand for plant-based ingredients in China.
INTERNATIONAL FLAVORS & FRAGRANCES INC.
International Flavors & Fragrances Inc. (IFF) is one of the global multinational corporations that provide a range of products such as animal health solutions, extracts and flavorings, carob protein, cellulose gum, and cultures for food, among others. The company operates through its major business segments: Nourish, Health and Biosciences, Scent, and Pharma Solutions. Since its inception, the company has had a strong focus on research and development and invests a significant amount in R&D activities every year. In October 2020, the company also opened a new creation, application, and innovation center for its Taste division in Dubai, UAE, to better serve its customers’ unique needs and drive growth in the African, Middle Eastern, Turkish, and Indian markets. Through its numerous subsidiaries, IFF has significantly marked its presence in more than 200 countries.
Specialty Food Ingredients Market by Type (Acidulant, Colors, Flavors, Enzymes, Emulsifiers, F&B Starter Culture, Preservatives, Functional Food Ingredients, Specialty Starches, Sugar Substitutes), Distribution Channel - Global Forecast to 2028
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