Transparency
Market Research announces the publication of a new research report on
the global specialty ingredients market. According to the report, the
global specialty ingredients market will grow at a 6.60% CAGR during
the period between 2015 and 2021. The report, titled ‘Specialty
Ingredients Market - Global Industry Analysis, Size, Share, Growth,
Trends and Forecast 2015 - 2021’, states that the global specialty
ingredients market stood at US$205.2 bn in 2014 and will reach
US$320.6 bn by 2021.
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exclusive Sample of this report:
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The
global specialty ingredients market is primarily boosted by factors
such as the rapidly developing food and beverage sector, increase in
demand for personal care products, and growing nutrition and health
awareness. Leading market players are introducing numerous specialty
ingredients, which are used in food items for various purposes such
as to preserve freshness, flavor, and nutrients. This helps in
avoiding wastage of food. Many leading companies in the global
specialty ingredients market introduce specialty ingredients that can
be used in personal care products in order to increase their shelf
life.
Considering
all these factors, the global specialty ingredients market is
expected to develop rapidly during the forecast period. Some of other
factors influencing the growth of the global specialty ingredients
market are healthy economic growth, increasing disposable incomes,
changing consumer preferences and tastes, and changing demographic
profile of consumers. The global specialty ingredients market
includes leading market players dealing in different kinds of
specialty ingredients. Some of the leading players in the global
specialty ingredients market are Archer Daniels Midland Co., E.I. du
Pont de Nemours and Company, Koninklijke DSM N.V., CHR Hansen Holding
A/S, and many others. Introduction of new flavors in specialty
ingredients will boost the global specialty ingredients market
further. By geography, the global
specialty ingredients market is divided into North America,
Asia Pacific, Europe, the Middle East, and Rest of the World. In
terms of revenue, the North America market for specialty ingredients
led the global specialty ingredients market in 2014 and will continue
to hold its dominance during the forecast period. In terms of
revenue, Asia Pacific is expected to be on the second position during
the forecast period. Growing preference of the consumers for natural
ingredients in cosmetics, food, and wellness products will influence
the development of global specialty ingredients market in North
America and Asia Pacific.
By
application, the global specialty ingredients market is divided into
nutrition and health, personal care, and food and beverage. The
nutrition and health application segment of the specialty ingredients
market was the largest in 2014, with a US$152.4 bn valuation. Growing
health awareness is the primary factor driving the market for
nutrition and health specialty ingredients. The market for food and
beverages is predicted to grow at a strong CAGR during the forecast
period, leading to steady demand from the specialty ingredients
market. Improving income of the average buyer, demand for anti-aging
food products, and health consciousness will propel the global
specialty ingredients market till 2021.
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