Europe Specialty Food Ingredients Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Europe Specialty Food Ingredients Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Europe's specialty food ingredient market is growing by registering a CAGR of 4.96% during the forecast period (2020-2025).

Key Highlights

• By type, the flavors segment occupied the largest market share in 2018. The specialty oil segment is projected to witness the highest CAGR over the forecast period.

• By functional food ingredient type, vitamins and minerals occupied the largest market share in 2018. The botanical functional food ingredient is projected to witness the highest CAGR, over the forecast period.

• By application type, the beverages application occupied the largest market share in 2018. The bakery segment is projected to witness the highest CAGR over the forecast period.

Key Market TrendsObesity And Overweight in Europe – Leveraging Opportunity For Manufacturers

A few centuries on, with the onset of industrial farming, food is no longer a status symbol and the specter of famine has receded from the consumer consciousness. The abundance of food is such that the link between calorie intake and social status has not so much been eliminated but it has been highly reversed the other way. Across Europe and most of the developed countries, people have easy access to cheap, high-calorie fast food and ready meals. As a result, the average body mass index (BMI) has shot up across the developed world and beyond. Utilizing the latest estimates from EU countries, the World Health Organization suggests that 30-70% of adults are overweight in Europe, whilst obesity affects 10-30% of adults. Moreover, according to the WHO, in the EU, one in three 11-year-olds are either overweight or obese.

Functional Food Ingredients Holds The Major Share

Functional food ingredients are fortified with ingredients to enhance their basic nutritional values. The increase in consumption of nutritive convenience food and fortified food and the growth in health awareness among consumers are driving the functional food ingredients segment. Rapid advancements in technology and companies’ efforts in trying to develop products with multifunctional applications are driving the functional food ingredients segment of the market studied. The major factors restraining the growth of the functional food ingredients segment are the high cost for functional food products, due to the inclusion of healthier or naturally sourced ingredients and the complexities that are related to the adulteration of functional food products.

Competitive Landscape

The European specialty food ingredients market is fragmented and includes regional and global competitors. The market is dominated by players, like Cargill Inc., Koninklijke DSM NV, ADM, and DuPont. There are various small and medium local players, holding a significant share in the market.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Cargill Inc.
DuPont
Tate & Lyle PLC
Kerry Group
Archer Daniels Midland
Koninklijke DSM NV
Ingredion Incorporated
Sensient Technologies

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