The Global Food Additives Market is Projected to Reach a value of USD 52.2 Billion by 2020 & North America is Estimated to Lead The Market
The food additives market is segmented as mentioned below:
- Anti-caking agents
- Bakery & confectionery
- Convenience foods
- Dairy & frozen desserts
- Spices, condiments, sauces & dressings
- North America
- Rest of the World (RoW)
The report discusses the drivers, restraints, opportunities, and challenges of the market in detail. In the next five years, the markets for acidulants and hydrocolloids are projected to gain better prospects as the fastest-growing segments, globally. The application of food additives is projected to witness strong demand from bakery & confectionery, beverages, and convenience foods segments.
This report estimates the size of the global food additives market in terms of value. The geographical and application-wise split was determined using secondary sources and verified through primary respondents. The demand in different regions was considered while estimating the share of the different regions in the food additives market. The market estimation was also based on various parameters, such as the number of players, demand trends, supply trends, and the extent of research activity in a particular region. The market for food additives is projected to grow at a CAGR of 5.6% to reach USD 52.2 Billion by 2020.
The global food additives market is projected to reach a value of USD 52.2 Billion by 2020, at a CAGR of 5.6% from 2015.
The market for food additives has a significant impact on the food & beverage industry across the globe. Food additives are broadly categorized based on their type into acidulants, anti-caking agents, colors, emulsifiers, enzymes, flavors, hydrocolloids, and sweeteners. These food additives are further segmented on the basis of source, including natural and synthetic. The food additives market is also segmented on the basis of application into bakery & confectionery, beverage, convenience foods, dairy & frozen desserts, spices, condiments, and sauces & dressings, among others.
The global food safety testing market has been showing dynamic growth over the years, owing to the growing need for different ingredients and multiple functionalities across food applications. Food additives are used in the food & beverage industry to impart specific properties to food products, enhance food palatability, replace fat content, enhance product shelf-life, and protect food from contamination, among others.
The figure above depicts the global market size of food additives by region. The market was dominated by the North American region in 2014, where the U.S. dominated the regional market with ~78% share in 2014. The market in Europe is projected to grow at steady rate while the market in Asia-Pacific is projected to grow at the highest CAGR. This growth may be attributed to the food & beverage sector in Asia-Pacific region, which is greatly influenced by consumer preferences for healthy eating, trend towards natural & organic foods, and the growing demand for convenience food. The trend in the Asia-Pacific region is influenced by the economic growth of countries, growing industrialization, and higher consumer preference for quality products, resulting in ingredient suppliers becoming increasingly optimistic about the future.
The food additives market constitutes a large number of players, including E.I. DuPont (U.S.), Archer Daniels Midland (U.S.), Cargill, Inc. (U.S.), Chr. Hansen A/S (Denmark), Kerry Group (Ireland), BASF SE (Germany), Evonik Industries AG (Germany), Tate & Lyle PLC (U.K.), Ingredion Incorporated (U.S.), and Novozymes A/S (Denmark).
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