North America Specialty Food Ingredients Market Size & Outlook
North America specialty food ingredients market, 2018-2030 (US$M)
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North America specialty food ingredients market highlights
- The North America specialty food ingredients market generated a revenue of USD 22,608.0 million in 2022.
- The market is expected to grow at a CAGR of 4.8% from 2023 to 2030.
- In terms of segment, sensory was the largest revenue generating by product in 2022.
- Functional is the most lucrative by product segment registering the fastest growth during the forecast period.
- Country-wise, U.S. is expected to register the highest CAGR from 2023 to 2030.
North America data book summary
| Market revenue in 2022 | USD 22,608.0 million |
| Market revenue in 2030 | USD 32,881.4 million |
| Growth rate | 4.8% (CAGR from 2022 to 2030) |
| Largest segment | Sensory |
| Fastest growing segment | Functional |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Sensory, Functional |
| Key market players worldwide | Naturex, Givaudan SA, Ingredion Inc, Associated British Foods PLC, Kerry Group PLC Class A, Ashland Inc, Archer-Daniels Midland Co, Cargill, DSM, Tate & Lyle PLC, Agropur, WILD Flavors, Diana Group, Chr. Hansen |
Other key industry trends
- In terms of revenue, North America region accounted for 23.4% of the global specialty food ingredients market in 2022.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 51,250.3 million by 2030.
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Specialty Food Ingredients Market Scope
Specialty Food Ingredients Market Companies
| Name | Profile | # Employees | HQ | Website |
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North America specialty food ingredients market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to specialty food ingredients market will help companies and investors design strategic landscapes.
Sensory was the largest segment with a revenue share of 57.02% in 2022. Horizon Databook has segmented the North America specialty food ingredients market based on sensory, functional covering the revenue growth of each sub-segment from 2018 to 2030.
North America specialty food ingredients market is anticipated to ascend at a significant rate over the forecast period owing to strong demand for nutrition-based food in the region. The well-established food & beverage industry supported by a strong supply channel across the region has flourished the growth in the historic period and is likely to ascend at the same pace in the projected time.
Growing health concerns and increasing health issues such as diabetes, obesity, and digestive disorders are the major factors that are likely to assist the market growth over the forecast period. Moreover, technological advancements and the high adoption rate of new products in the region are estimated to play a key role in increasing ingredients demand for food and beverage over the forecast period.
Functional ingredients are being increasingly utilized in nutritional beverages, bars, baked food products, confectioneries, and desserts, which, in turn, is predicted to have a positive impact on their growth over the forecast period. The functional ingredients market in North America is projected to expand owing to the increasing consumption of energy bars, cold cereals, and snacks.
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Our clientele includes a mix of specialty food ingredients market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America specialty food ingredients market , including forecasts for subscribers. This continent databook contains high-level insights into North America specialty food ingredients market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America specialty food ingredients market size, by country, 2018-2030 (US$M)
North America Specialty Food Ingredients Market Outlook Share, 2022 & 2030 (US$M)
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