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 Market Study Report, global specialty food ingredients market was worth USD 47642.38 million in 2019 and is anticipated to accrue substantia returns during 2020-2025.
 

The upward growth trajectory of global specialty food ingredients market is attributed to escalating demand for plant-based meat products as well as convenience food, and increasing research & development activities for introducing healthy food commodities.
 

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Emphasis on food safety has driven processed food manufacturers to work towards launching high-quality food products with enhanced shelf-life. Moreover, technological advancements in the business sphere, coupled with taste and nutrition convergence are adding substantial traction to the industry expansion.
 

Based on product type, vitamins & minerals segment is expected to emerge as a major revenue generator for global specialty food ingredients market sphere during the analysis timeframe. Rising adoption as a vital sub-type specialty food ingredient in various dishes is propelling the expansion of the segment.
 

With regards to application spectrum, the industry is categorized into sauces & condiments, beverages, bakery & confectionery, and others. Among these, beverages segment currently captures a majority market share and is touted to attain substantial expansion through 2025.
 

Speaking of geographical scope, North America specialty food ingredients industry is slated to amass considerable gains during the analysis period, owing to growing prevalence of diabetes as well as heart diseases, along with surging demand for healthy food products.
 

Alternatively, Asia-Pacific marketplace is also set to grow significantly, exhibiting the highest yearly growth rate over 2020-2025. Rising adoption of specialty food ingredients in infant food as well as dietary supplements, and growing patient population are fostering the regional industry growth.
 

Top companies defining worldwide specialty food ingredients market trends are Tate & Lyle plc, Givaudan, DuPont de Nemours Inc., Archer-Daniels-Midland Co. (ADM), Ingredion Inc., KF Specialty Ingredients Pty Ltd., Sensient Technologies Corp., Cargill Inc., Kemin Industries, and Koninklijke DSM N.V.