Published Date : Mar 17, 2016
Specialty ingredients are those ingredients that are added to the core recipe of a food product or personal care product, so as to benefit it in some way. The benefit could be in terms of increasing the shelf life of the product or in terms of improving the quality of the product. Other benefits of specialty ingredients include improved taste, improved texture, enhanced visual appeal, and increase in the nutrition content. These benefits of the specialty ingredients are driving the global market of specialty ingredients.
Demand for Natural Specialty Ingredients to Soar owing to Increased Health Awareness
An increasing number of people all across the globe are opting for natural and organic products. This increase is mainly due to the growing awareness among people about the various benefits of natural ingredients. Growing concern regarding the side effects of chemicals and synthetic ingredients has also led to a growth in the natural specialty ingredients market. The demand for natural specialty ingredients from the personal care industry is also driving the natural specialty ingredients market. As people are becoming aware of the benefits of antioxidants and additives, the demand to make use of these ingredients in personal care products is growing
Nutrition and Health Application Segment led the Market in 2014
According to a report published by Transparency Market Research, the nutrition and health application segment of the specialty ingredients market valued at US$152.4 bn in 2014. The growth of the health and nutrition segment is attributed to the growing health awareness among the people all across the world.
The food and beverages segment is anticipated to grow at a high CAGR in the period from 2014 to 2021 due to a growing need to preserve food, to improve the taste, and also to increase the shelf life of the food or beverage.