The industry for specialty food ingredients essentially thrives on the wider technological and functional benefits that these ingredients confer, in terms of high quality, safety, affordability, nutrition, and deliciousness of the processed food products. Processed food products include various categories, such as ready meals, baked foods, breakfast cereals, confectionery, and non-alcoholic beverages. Specialty food ingredients are a vital part of a wide range of processed foods, thereby, contributing to competitiveness in the food and beverage industry. The demand for convenient foods has recorded robust growth, owing to changing lifestyles and dietary preferences. Specialty ingredients, such as preservatives, emulsifiers, stabilizers, enzyme preparations, and others, enhance the nutritional profile of the packaged food and extend their shelf-life, thereby, pushing for higher demands of these specialty food ingredients.