Specialty Ingredients Market Size, Share, Growth, Trends and Industry Analysis Report
by Susan Hill Business ConsultantThe
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.
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.
Access full
research report on global specialty ingredients market:
www.grandviewresearch.com/industry-analysis/specialty-ingredients-market
Sponsor Ads
Created on Oct 18th 2019 09:30. Viewed 428 times.