Food Additives Market Growth 2018-2025 |Key Players E.I. DuPont, Archer Daniels Midland Company, Cargill

Food additives are substance added to food to enhance its taste, quality, appearance, and preserve the food from bacterial effects. Food additives are broadly categorized as acidulents, acidity regulator, antioxidants, antifoaming & foaming agents, emulsifiers, flavor enhancers, color retention agents, stabilizer, and sweeteners. Growing demand for convenience and organic food in North America and Europe is expected to fuel growth of the market for food additives.

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Rampant urbanization and increasing disposable income in Asia Pacific is expected to boost the market for food additives. Also, changing lifestyles characterized by increasing consumption of ready-to-eat food products and increasing number of women workforce tends is increasing consumption of convenience food, and in turn food additives extensively used in them. As per statistics released by the India Brand Equity Foundation (IBEF)—a Trust established by the Department of Commerce, Ministry of Commerce and Industry, Government of India—the Indian food processing industry is expected to reach US$ 130 billion by 2024. This creates a highly conducive environment for growth of the food additives market, buoyed by rapid economic growth in emerging economies of India and China.

Stringent government regulations is expected to be one of the key challenges for food preservatives market. For instance, on June 20, 2016, The Government of India’s (GOI) Food Safety and Standards Authority of India (FSSAI), banned use of potassium bromate and cyclamates in food. Moreover, The Government of the Hong Kong Special Administrative Region, on July 1, 2008, introduced new regulations to control the use of preservatives and antioxidants in food. Also, the National Health and Family Planning Committee of China introduced the National Food Safety Standard for Food Additive Use (GB2760-2014), which was implemented on May 24, 2015. On July 14, 2014, the European Union (EU) implemented the European Food Information to Consumers Regulation No 1169/2011 (FIC).

Major players in the global food additives market include E.I. DuPont, Archer Daniels Midland Company, Cargill, Hansen Holding A/S, Kerry Group Plc, BASF SE, Ingredion Incorporated, Novozymes A/S, and Tate & Lyle PLC.

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This release was published on openPR.