Press release
Food Additives Market may surpass USD 55.8 Billion by 2022
Food Additives Market
The last few decades have witnessed food additives market registering a strong growth trajectory across the globe. One of the principal reasons for the same is the encouragement by regulatory bodies that have been highly supportive of giants in F&B sectors using food additives for enhancing the safety, nutritional value, and taste of foods. Even the modern-day consumer now gives preference for flavored, nutritious foods, in response to which players in food additives industry are looking forward to introducing innovative ingredients. Aided by the support of regulatory bodies like the Food and Drug Administration (FDA), food additive manufacturers have been carrying out extensive research and development activities lately, that have served to stimulate food additives business trends.
Positive indicators for packaged & frozen foods consumption owing to hectic lifestyle particularly in the U.S, Germany, France and UK, should promote global food additives market size. These ingredients are used with the primary intention to impart flavor, nutritional and color characteristics. Primarily used packaged foods include ready-to-eat meals, frozen meals, cake mixes, and snacks. Food Additives Market size may reach USD 55.8 Billion by 2022; according to a new research report by Global Market Insights, Inc.
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Europe food additives market size may observe 4.8% growth with Germany and France being the major contributors. Growing popularity of alcohol-free beer, savory snacks and sugar free confectionaries should provide an impetus to Germany food & beverage industry growth and also provide a scope for local manufacturers to increase production capacity.
Flavors & fragrances was the largest revenue generating segment in 2014 and accounted for over 30% of the total share. Majorly used flavors & enhancers include monosodium glutamate (MSG), calcium inosinate, glutamic acid and natural extracts such as herbs and neem. Natural flavors market may witness above average industry gains at over 5% CAGR.
Enzymes based food additives market may witness over 5.5% growth up to 2022. Carboxylase, protease, lipase, polymerase and xylanase are major enzyme types majorly incorporated in formulation of baked products to improve organoleptic properties and crust appearance. Moreover, price advantage over its counterparts is projected to favor product demand. High fructose corn syrup (HFCS) market size was close to USD 500 million in 2014. Rising preference over conventional sugar due to its comparatively less pricing should favor HFCS demand. In addition, increasing availability of farmland meant for corn production coupled with agriculture industry growth in China and India should promote HFCS market size.
Phospholipids, glycerol, yeast, lactic acid, sorbitol soybeans and oil seed derived chemicals are major raw materials used in manufacturing process. Raw material supply deficit should put pressure on supplier margins and affect food additives market price trend.
Regulatory inclination towards promoting the consumption and production of naturally derived products have enhanced the importance of bio based chemicals namely sorbitol, oleochemicals and lactic acid. Their availability is restricted with tight raw supply situation from soy and oilseed industry.
Strategic alliances and collaborations with raw material suppliers is an attractive approach to maintain feedstock supply. Mandatory food safety registrations may result in high manufacturing cost and act as entry barriers for small scale producers.
China food additives market size may witness more than 5% growth and surpass USD 5 billion by 2022. Strong sales outlook for China based processed products such as noodles and sauces in Europe and North America should drive regional industry growth. Lecithin based emulsifiers in U.S. food additives market may observe significant gains at over 5% CAGR.
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Technological innovation for incorporating functional ingredients product formulation may fuel regional industry growth. Starch based fat replacers market was generated over USD 1 billion revenue in 2014. Carbohydrates and starch are incorporated as fat replacers and may witness high demand from formulators in light of low price. Sorbitan esters based emulsifiers may should observe strong growth rate at over 6%. They are used in formulation of shortenings, coffee whiteners, toppings, confectionery coatings and chocolates. MEA flavors & enhancers industry is largely driven by meat consumption in Saudi Arabia, UAE, and South Africa may result in significant gains. Global food additives market share is competitive. Key industry players include ADM, DuPont, Novozymes and Ingredion. Some companies are fully integrated to attain avoid raw material uncertainty and maximize profitability Other industry participants include Tate & Lyle, Chr. Hansen, Cargill, BASF, Ajinomoto, Bio Springer and Adani Wilmar.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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