San Francisco, 07 January, The global specialty ingredients market is expected to reach USD 141.12 billion by
2022, according to a new report by Grand View Research, Inc. Shift in consumer
focus towards organic products coupled with growing demand for anti-ageing and
environmental defense skin care products is expected to drive the global
specialty ingredients market over the forecast period. Increasing preference
for healthy and nutritional diet and enhancing growth of high quality
pharmaceutical drugs is also expected to have a positive influence on the
market growth.
Food and beverages dominated
the global industry on account of high demand for various beverages,
supplements and nutritional dietary products across the globe. Food &
beverage industry is expected to experience advancement owing to increasing
demand for organic items coupled with high-quality and customized requirements
by population over the forecast period. Changing lifestyle has also enhanced
preference for nutritional goods which in turn is expected to drive global
revenue for functional specialty food ingredients.
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Report On Specialty Ingredients Market Analysis:
Further key findings from the report suggest:
·
Global specialty market was
valued at USD 93.27 billion in 2014 and is expected to reach a market worth USD
141.12 billion by 2022, growing at a CAGR of 5.4% from 2015 to 2022
·
On the basis of product,
pharmaceutical sector can be further segmented into active and inactive. More
than 90% of pharmaceutical segment was dominated by active ingredients owing to
its importance in drug development. The product segment is expected to witness
the highest growth over the next six years.
·
Rising prevalence of skin
diseases/problems owing to harmful UV rays and other environmental particles
are also driving need for efficient and organic constituents. Therefore,
personal care segment is expected to witness the highest growth of 5.7% over
the forecast period
·
North America was the leading
regional market and accounted for 31.7% of total market in 2014. Increasing
consumption of dietary constituents particularly in the U.S. is expected to
drive the regional market over the forecast period. Asia Pacific is expected to
witness the highest gain in its market size over the forecast period. The
region is expected to grow at an estimated CAGR of 5.9% from 2015 to 2022.
·
Key manufacturers operating in
the global specialty ingredients market include Ashland Inc., Archer Daniels
Midland, Naturex, Inolex, Frutarom and DuPont. Wide range of suppliers are
available mainly in North America. Mergers and acquisition activities by
multinationals are expected to consolidate the nutritional industry.
Grand View Research has
segmented the specialty ingredients market on the basis of application and
region:
Global Specialty Ingredients
Application Outlook (Revenue, USD Million, 2012 - 2022)
·
Food & Beverage
o
Sensory
o
Functional
·
Pharmaceutical
o
Active
o
Inactive
·
Personal Care
o
Active
o
Inactive
·
Animal Feed
o
Feed additives
o
Functional feed ingredient
o
Premixes
o
Others mixtures
·
Others
Global Specialty Ingredients
Regional Outlook (Revenue, USD Million, 2012 - 2022)
·
North America
o
U.S
o
Canada
·
Europe
o
Germany
o
UK
o
Italy
·
Asia Pacific
o
China
o
India
o
Japan
·
Middle East and Africa
o
Saudi Arabia
·
Central & South America
o
Brazil
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For more information: www.grandviewresearch.com/
