Press release
Synthetic Food Market 2018 By Regional Manufacturers Archer Daniels Midland Company, Flavorchem, Sensient Technologies, FMC, DSM, BASF, Chr. Hansen, Döhler Group and Allied Biotech
Synthetic Food Market
Asia Pacific synthetic food market is projected to account over 30% of the share by 2024. Increasing the application of artificial additives among key manufacturers to enhance shelf-life, texture and appearance of consumable products driving regional demand. Furthermore, major companies such as BASF, Symrise and Sensient are anticipated to invest in formulation of new flavors & tastes obtained through enhanced ingredient engineering. The rising consumption of bakery & confectionery products in China, India, Japan, and Australia owing to increasing double income trend is supporting industry expansion.
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Synthetic Food Market size is estimated to exceed USD 20 billion by 2024; according to a new research report by Global Market Insights, Inc. Busy lifestyle and changing demographic trends are resulting into preference for ready to eat and processed food consumption, thus enhancing synthetic food market growth. Increasing penetration of artificially engineered ingredients among manufacturers for their improved flavor & fragrances properties will support industry growth of synthetic food market. Key aspects such as texture enhancement, enhanced shelf life and visual appeal will propel artificial additive demand.
Expansion of the processed food industry along with increasing demand for soft drinks, confectionery, meat, fruits and dairy will provide a strong application outlook for artificial additive industry growth. Increasing supply chain complexities of food manufacturers including spoilage and loss of nutritive value will further propel product penetration rate. Some ingredients are added directly as seasonings and indirectly as vinegar and salt to enhance product shelf life and deliver better taste.
- Synthetic Food Market, By Application
• Beverages
• Dairy & Frozen Products
• Bakery & Confectionery
• Meat, Poultry & Seafood
• Processed Food
• Convenience Foods & Beverages
• Sauces, Dressings, and Spreads
• Savory and Snacks
• Animal and Pet Food
• Oils & Fats
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Hydrocolloids were valued over USD 1.5 billion in 2016. Increasing necessity to provide stabilization, suspension, thickening, and manipulating mouthfeel of several beverages driving product demand. The growing consumption of low calorie drinks among the diabetic population will support industry growth. These hydrocolloids are also used to improve taste of low-calorie drinks without impacting beverage’s flavor.
Flavor & fragrances dominated the overall artificial additives market in 2016. Factors such as changing taste preferences, rising disposable income along with gourmet food chain expansion is expected to propel artificial additives market share. These are widely used in savories and snacks to enhance overall product appeal and deliver aroma for a prolong time.
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Global synthetic food market share is highly fragmented due to the presence of both large number of multinational as well as regional companies. Increasing competition among existing organizations and new entrants is anticipated to encourage product development. Archer Daniels Midland Company, Flavorchem, Sensient Technologies, FMC, DSM, BASF, Chr. Hansen, Döhler Group and Allied Biotech are key players in synthetic food market. Other prominent players include Frutarom, Symrise, Young Living Essential Oils, Falcon Essential Oils, Biolandes, Naturex, Fiorio Colori and D.D. Williamson & Co. Inc.
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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