ID: MRFR/F-B & N/0874-HCR | 90 Pages | Published By Snehal Singh on March 2023
Food additives market is projected to be worth USD 60.12 billion by 2030, registering a CAGR of 5.60% during the forecast period (2022-2030).
The food additives market is expected to grow at a higher CAGR of 5.60% in the global market to account for a higher market share value of approximately USD 60.12 billion in the global market by 2030.
The substances used in the production process of various beverages and food for developing and maintaining texture, taste, and freshness of the beverages and food. Usually, there are extracted from two sources namely synthetic source and natural resource. It helps in increasing the shelf-life of products.
COVID 19 Analysis
The global pandemic of COVID 19 has affected a large section of society. Most people have lost their livelihood because of this global pandemic. It has affected the growth and dynamics of several industries. Owing to the shortage of vaccines, everyone is concerned about their immunity and follows social distancing. With the increasing waves of the global pandemic of COVID 19, people are becoming more conscious regarding their health. Owing to the shutdown of various manufacturing units it negatively affected the market.
However, it is expected that the food additives industry will recover from this global pandemic situation by the end of the third quarter of the coming year.
Food Additives Market Dynamics
Various factors drive the market growth like increasing demand for convenience food items which creates more demand in the global market. These additives are used as preservatives which increases the shelf-life of products and hence boosts the market demand.
The rise in demand for food additives market in the global market. Growing extensive research and development in this sector provides various growth opportunities. Also, the growing demand for flavored beverages propels the market demand. Moreover, increasing demand for natural beverages and food items boost growth opportunities in the global market.
Though the food additives market is increasing at an increasing rate some factors restrict its growth in the global market. Stringent regulations levied by the government of various emerging nations regarding the use of preservatives in various beverages and food items hamper the market growth. Also, the use of various artificial food additives may cause severe side effects which also restrict the growth of the market in the global market.
Value Chain Analysis
The market is growing rapidly in the global market owing to various benefits associated with it. As it helps in maintaining and increasing food’s nutritional value. It helps in growing fruits and vegetables throughout the year. It is a cheaper source of Vitamins and minerals. It is also used as a preservative in various beverages and food items and thus helps in increasing the shelf life of products. These preservatives are low in calories.
Food Additives Market Segmentation
The food additives market has been divided all across the globe based on the product type, source, application, and region.
Based on the Product Type
The market has been divided all across the globe based on the product type into preservatives, hydrocolloids, enzymes, flavors, colors, and many others.
Based on the Source
The market has been divided all across the globe based on the source into the synthetic source and natural source.
Based on the Application
The market has been divided all across the globe based on the application into sweet and savory snacks, sauces and dressings, soups, dairy and frozen desserts, beverages, bakery and confectionery, and many others.
Based on the Region
The market has been divided all across the globe based on the region into the North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region.
Food Additives Market Regional Analysis
The market has been divided all across the globe based on the region into North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region. The largest market share in the global market is held by the North American region owing to increasing demands towards processed food products results in more demand for hydrocolloids and preservatives by the manufactures. The North American region holds up to 30% market share in the global market.
The second-largest market share all across the globe is held by the European region owing to increasing demand for natural food additives among various manufacturers of food and beverages industries as more people are inclined towards natural food items and natural drinks. Moreover, increasing demand for organic and natural beverages and food also drives the market demand in this region. Since there are adverse side effects of artificial food additives which automatically increased the market demand for natural food additives. Out of all the countries present in the European region, Germany holds the largest market share and hence dominates the market during the forecasted period
The third-largest market share all across the globe is held by the Asia-Pacific region as this region witness the fastest growth rate in various sectors. Increasing personal disposable income and shifting towards natural additives as more people are inclined towards health and fitness drives the market demand in this region. This region also contains countries like India and China, which are highly populated and hence drives the market demand. Increasing shift towards ready-to-eat food products also boosts the market growth.
The Latin American region and the Middle East and African region also show positive growth rates during the forecasted period. Though there is a lack of infrastructure. But people are changing their lifestyle to live a healthy life by adopting natural additives instead of artificial additives. This region is also anticipated to show positive growth during the forecasted period.
Food Additives Market Competitive Landscape
The most prominent major key players in the market all across the globe are mentioned below:
These major key players use various strategies to sustain their market position in the food additives market in the global market by going for mergers, and acquisitions, by collaborating, setting up a new joint venture, establishing a partnership, developing a new production process, developing a new product line, innovation in the existing product, and many others to expand their customer base in the untapped market of the food additives all across the globe.
Food Additives Market Report Overview
This global market research report consists of the following elements mentioned below:
This market research report contains factors that drive the growth of the food additives industry in the global market along with the factors that restrict its growth in the global market. The opportunities available for growth during the forecasted period are mentioned. The impact of COVID 19 on the sales revenue of the food additives market all across the globe is mentioned. The future growth rate of the market during the forecasted period is estimated and mentioned.
Traders, exporters, and importers, retailers and wholesalers, hydrocolloids manufacturers, preservative manufacturers, enzymes manufacturers, beverages manufacturers, flavors manufacturers, color manufacturers, food additives manufacturers, and many others.
|Market Size||USD 60.12 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Product Type, Source, Application, and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Cargill Incorporated (US), BASF SE (Germany), Archer Daniels Midland Company (US), Kerry Group (Ireland), Evonik Industries AG (Germany), Ingredion Incorporated (US), Tate & Lyle PLC (UK), Chr. Hansen Holding A/S (Denmark), Novozymes A/S (Denmark), The Cooperative Avebe U.A. (Netherlands), among others|
|Key Market Opportunities||Growing demand for flavored beverages, Increasing demand for natural beverages and food items|
|Key Market Drivers||Increasing demand for convenience food items, Used as preservatives which increases the shelf-life of products|
Food additives market is projected to grow at a 5.60% CAGR between 2022-2030.
Key players profiled in the food additives market include Tate & Lyle plc. (U.K.), Evonik Industries AG (Germany), E. I. du Pont de Nemours and Company (U.S.), Kerry Group plc. (Ireland), Archer-Daniels-Midland Company (U.S.), Cargill Inc. (U.S), and BASF SE (Germany), among others.
The food additives market is predicted to touch USD 60.12 billion by 2030.
Demand for convenience foods and different flavoured beverages are the key factors driving the food additives market.
North America is expected to dominate the food additives market