Press release
Market Insight For "Food Additives Market" 2018 - 2024
Food Additives Market may surpass USD 115 billion by 2024; according to a new research report.
Growing consumer awareness about health consciousness along with supportive government schemes has led to widespread usage of food additives in market. Rapid expansion of technology in food industry pertaining to consumer?s demand for healthy and organic product options will positively influence market growth.
Food additives market share is concentrated with various players including BASF, Cargil, DuPont, ADM, Ajinomoto and Adani Wilmer are the prominent industry participants. High R&D spending by manufacturers towards comply with environmental regulations may improve & expand product diversification thereby stimulate industry growth.
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Food additives have various applications in bakery and confectionary, beverages, dairy and frozen products, sauce and dressings amongst others. Rapid expansion of technology in the industry pertaining to consumer?s demand for healthy and organic product options will positively affect market growth. Asia Pacific food & beverage market was valued at over USD 3.0 trillion in 2016 and may witness gains at over 10%. Food additives derived from natural sources are easily available at minimal cost, which is providing a cost advantage to the manufacturers.
Sweeteners Market is projected to surpass over USD 60 billion by 2024. Consumers believe in low-calorie sweeteners will effective for various purposes which includes weight reduction, weight maintenance, management of diabetes and reduction in the risks associated with obesity, thereby driving the industry growth. Asia Pacific natural sweetener Market is likely to witness a significant gain at over 4.5% during the forecast timeframe. Natural sweetener increases the stability of the products and is also used in milk formulations to increase the bioactive calcium.
Food additives Market from bakery & confectionery application is projected to reach over USD 35 billion by 2024. They are widely used in various bakery & confectionary applications which includes cakes, biscuits & cookies, chocolates, sandwiches and breads. They enhance the volume and texture of baked goods.
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Food emulsifiers Market may witness a significant gain at over 4% during forecast timeline. They are widely used in processing and also to maintain freshness & quality. They can prevent the growth of moulds which will happen in case the oil and fat separated in low fat spreads.
Food additives Market from beverage application is projected to reach over USD 50 billion by 2024. They are widely used in various beverage applications including soft drinks, juices, coffee, and wines. Fumaric acid is used as an additive in alcoholic beverages, including spirits, beer, malt beverages, wine, wine coolers and low-alcohol beverages, thereby propelling the industry growth.
Raw materials used in the production process of various food additives are derived from either natural source such as plants or chemically produced to prevent contamination and preserve the product. Key raw materials used in the production includes soybean, sunflower, rapeseed, palm oil, glycerol and sugarcane. However, fluctuating raw material prices of these raw materials may impact the food additives market price trends.
North America driven by the U.S., Canada and Mexico food additives Market is expected to reach at USD 29 billion by 2024. The growing demand for confectionery and beverage products in North America due to hectic lifestyle, increased urbanization and growing retail and hospitality sector is in turn expected to drive the growth demand in the region.
Asia Pacific led by Japan, South Korea, India and China food additives Market is expected to reach at USD 40 billion by 2024. Rising awareness about high nutritional diet and increasing need to impart ethnic taste are playing a key role in accelerating demand in the region. The Indian food processing industry is expected to grow with a rapid pace over forecast period. This creates a highly conducive environment for growth of the regional market, buoyed by rapid economic growth in emerging economies of India and China.
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Report Content
Chapter 1. Methodology & Scope
1.1. Methodology
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Definitions & forecast parameters
1.2. Data sources
1.2.1. Primary
1.2.2. Secondary
Chapter 2. Executive Summary
2.1. All-terrain vehicle industry 360 degree synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Application trends
2.1.4. Regional trends
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