Specialty Food Ingredients Market Forecast: Expected Growth Rates Through 2030
In 2023, the global specialty food ingredients market was valued at USD 101.9 billion, with projections for growth at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2030. The market's expansion is driven by the rapid growth of key application industries such as food and beverages, pharmaceuticals, and personal care. Additionally, the increasing penetration of both organized retail and e-retail globally is significantly fueling the industry's growth. Specialty food ingredients play crucial roles in preserving, texturing, emulsifying, coloring, and enhancing the health benefits of processed foods. These ingredients range from micro-ingredients like vitamins, minerals, and enzymes to macro-ingredients, including specific proteins, fats, carbohydrates, and fibers. The rising demand for food products free from artificial additives and ingredients has led to a focus on clean-label ingredients, which emphasize natural and simple formulations. These ingredients not only en