Food Additives Market Trend, Industry Analysis and Business Opportunity and Forecast 2018 to 2023

Market Overview:

Food Additives are substances added to food to enhance its qualities such as flavor, color, taste, preservation period, etc. They are used during the production, processing, treatment, packaging, transportation or storage of food. In commercial food preparation or domestic cooking, direct/ indirect or natural food additives are used extensively. This augmented adoption coupled with the demand from the burgeoning food & beverages industry defines the growth landscape of the market globally, escorting it to the ascended heights. 

Evidently, the burgeoning Food & Beverages industry backed by the growing population, urbanization and improving economic conditions, globally, drive the Food Additive market.

Changing, lifestyle and consumer preference towards the, packaged/ ready to eat foods and frozen foods are the key factors, propelling the market growth. Similarly, growing disposable income and rising urban middle class population are some of the key contributors to the market growth. Globally, western countries account for the highest demand for food additives. 

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On the other hand, stringent government regulations that outlaw specific food additive inhibits the market growth.  For instance; France government and European Commission has recently banned the artificial color E171, used mainly as a brightening and whitening agent in candies, white sauces, cake icing and chewing gum, etc. Similarly, US FDA recently has denied the GMA’s (Grocery Manufacturer Association’s) food additive petition to allow the continued use of partially PHOs (hydrogenated oils) in foods.

Major Key Players:

Well-established players having regional and global presence adorn the Food Additives market as highly competitive.  These market players compete by quality, price, reputation, service, and distribution. Mergers & acquisitions, brand reinforcement, and innovations remain the key strategies adopted by the leading players of the market. The market is expected to witness a fierce competition due to the predicted product & service extensions and product innovations.

The Global Food Additives Market is led by some of the fervent players including, Archer Daniels Midland Company (US), E. I. du Pont de Nemours & Company (US), Cargill India Private Limited, Chem-Mex Industries Incorporated (US), Kerry Group Plc. (Ireland), CHR. Hansen Holding A/S (Denmark), Novozymes A/S (Denmark), and BASF SE (Germany). Profiling them in its analysis, MRFR finds out the strategies keep them at the forefront of the market competition. 

Industry/ Innovations/ Related News:

May 16, 2018 – Kemin Industries (US) a global nutritional ingredient company launched its new product - a plant-based alternative to EDTA – named as ‘NaturFORT RSGT’ for shelf life extension.

Market Segments:

 MRFR has segmented the analysis into four key dynamics.

By Product Types: Comprises     Antioxidants, Flavoring Agent, Nutrition Enhancer, Sweeteners, Colorants, Emulsifiers, and Acidity Regulators, among others.

By Applications: Dairy & Beverages, and Bakery & Confectionery, among others.

By Packaging: Sachet, Bag, Bulk, Bottle, Mason Jar, Drum, and Box, among others.

By Regions:  North America, Europe, APAC and Rest of the World.

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Geographical Analysis:

Continuing with its dominance, Europe market for Food Additives is expected to surge, witnessing the high consumption of the products. Growing further, over its previous growth records by 2023 the region is expected to create a more significant revenue pocket in the global market. Factors such as high disposal income, the presence of large food enthusiasts & connoisseurs populace influence the regional market growth positively. 

Countries such as the UK, France, Italy & Germany account for the major contributors to the growth owing to the presence of a large food connoisseur populace and the well-established market players. Also, improvement in the cattle breed management coupled with the growing dairy industry in New Zealand is likely to influence food additives demand, positively.

Whereas North America, the second-largest market for Food Additives is surging mainly due to the major contributions of the US market, backed by the continual R&D efforts transpired to bring novelties in the products and high per capita income. 

While attributing to the resurging economy in some of the APAC countries like India & China, the Asia-Pacific market for Food Additives is witnessing exponential growth. Increasing consumption of the products in developing countries is another key factor driving the regional market.

The increasing importance of functional ingredients for imparting properties such as flavor, emulsification and enhanced shelf life in the product is expected drive market demand for Food Additives in the APAC region. Favorable regulations aimed at promoting foreign investments in domestic Food & beverage industry is another key factor propelling the regional market growth.

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This release was published on openPR.