Food Ingredient Market Size, Growth Opportunities 2024-2030

As demonstrated by Precision Business Insights (PBI), the latest report, the global food ingredients market in 2024, the market valued at USD 189,541.4 million and expected to witness a CAGR of 5.58% over the forecast period (2024-2030) and is estimated to be valued at USD 262,476.9 million in 2030. The food ingredient business is expanding rapidly, driven by shifting customer demands for health, convenience, and sustainability. PBI Analysts report that natural and plant-based ingredients, particularly sweeteners such as stevia and monk fruit, are gaining popularity as customers seek clear labelling and healthier options. Technological advancements are also altering the market, allowing businesses to innovate in areas such as flavour enhancement, shelf-life extension, and ingredient sourcing, all while adhering to regulatory norms for safety and transparency. Regulatory frameworks, notably in Europe and Asia-Pacific, are tightening to address food safety and sustainability, requiring producers to implement sustainable and compliant methods. As a result, the market is likely to experience ongoing expansion across categories such natural preservatives, clean-label stabilizers, and functional additives that promote health, offering substantial opportunities for innovation and market share expansion.

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The global food ingredients market is segmented based on form, and region:
Based on the Form Type the Market is segmented into the following
• Flavors (Chocolate & Brown, Vanilla, Fruit & Nut, Spices & Savory, Mint, Others)
• Colour Additives (Natural, Synthetic)
• Emulsifiers (Mono, Di-Glyceride Derivatives, Lecithin, Stearoyl Lactylates, Sorbitan Esters, Others)
• Preservatives (Antioxidants, Antimicrobials, Acidulants, Others)
• Binder (Plant-Based (Hydrocolloids, Others), Animal Based (Egg White, Whey, Others))
• Sweeteners (Sucrose, High Fructose Corn Syrup, Polyol Sweeteners (Sorbitol, Mannitol, Others), High Intensity Sweeteners (Aspartame, Sucralose, Others))
• Stabilizers/ Thickeners (Starches, Pectin, Xanthan Gum, Gelatin, Alginate, Guar Gum, Cellulose & Derivatives, Carrageenan, Others)
• Others (Other food additives include specialized agents such as humectants, anti-caking agents, leavening agents, yeast nutrients, dough strengtheners and conditioners, firming agents, enzyme preparations, gases, and nutrients)

Demand for Stabilizers/ Thickener in Food Ingredient Market.
The stabilizers and thickeners segment was worth US$ 29,457.48 million in 2023, with estimates predicting a 5.75% growth rate to US$ 43,473.56 million in 2030. This segment has a revenue share of 16.34% in 2023 and is anticipated to grow to 16.56% in 2030. The increased need for stabilizers and thickeners stems from their vital function in improving the texture and viscosity of culinary products, particularly sauces, gravies, soups, and desserts. Thickeners, such as starches, are in high demand due to their ability to increase consistency without affecting the other properties of the dish. Gluten-free thickeners have also gained popularity, especially for their ability to mimic the texture of gluten in baked goods, meeting the needs of health-conscious consumers.

Starches, a crucial element in the thickeners market, come from a variety of plants, including corn, wheat, potatoes, and cassava. These starches are processed to increase certain properties such as viscosity, gelatinization, and stability, making them suitable for usage in sauces, soups, dressings, and baked goods. The need for industrial starch is enormous, notably in European countries such as France, Germany, and the Netherlands, which produce large amounts of starch from wheat, corn, and potatoes. Furthermore, Asia-Pacific countries, particularly Thailand and Indonesia, are major producers of tapioca starch, which is becoming popular due to its gluten-free and flexible qualities.

The increased consumer preference for healthier, lower-sugar, and diabetic-friendly choices is driving up demand for low methoxyl pectin. Furthermore, as the demand for natural ingredients grows, pectin's flexible gelling capabilities make it a desirable ingredient in product formulation, matching with clean-label and health-conscious trends in the food sector.

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Based on the Region, the Market is segmented into the following
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

North America leads the Food Ingredient Market
North America leads the worldwide food ingredient market, accounting for 36.30 % in 2023. The market is expected expand at a 5.8 % CAGR to USD 97,519.9 million by 2030, from USD 65,430.75 million in 2023. This growth is being driven by several causes, including rising demand for healthier, plant-based food options and advancements in clean-label products. Furthermore, increased consumer demand for functional ingredients that promote wellbeing, as well as a trend toward sustainable sourcing, are driving the market ahead. The region is also experiencing an increase in plant-based protein alternatives, which is broadening the ingredient options. Trends such as rising demand for natural sweeteners, protein fortification, and allergen-free options are influencing market dynamics.

In Addition, the European food ingredient business is rapidly expanding, driven by increased demand for clean-label goods and plant-based components. The European market is particularly driven by tight regulatory standards and an increasing emphasis on sustainable, locally sourced components. Countries such as Germany, France, and the United Kingdom are seeing a move toward organic and minimally processed food products, driven by rising consumer awareness of health and sustainability. These developments, together with advancements in food technology, are accelerating industry growth.

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Strategic Expansion, Mergers, Collaborations, and Agreements are the key Strategies Adopted by Market Players:
The market players in the market adopt a combination of these strategies to stay competitive, drive growth, and capitalize on opportunities in the dynamic sector. Companies invest in expanding their capabilities to meet the growing demand for packaging and printing industry. This includes entering new areas of manufacturing and leveraging existing expertise and infrastructure for diversification.

Key players are Ajinomoto Co., Inc, Archer Daniels Midland Company, Associated British Foods Plc, BASF SE, Cargill, Chr. Hansen Holding A/S, Corbion NV, DSM Nutritional Products, Dupont de Nemours, Inc, FMC Corporation, Ingredion Incorporated, Kerry Group, Naturex (Givaudan), Sensient Technologies Corporation, Tate & Lyle Plc among others.

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This release was published on openPR.