Food Additives Market Share, Trend Analysis, Key Drivers, Size And Forecast To 2033

"The Business Research Company recently released a comprehensive report on the Global Food Additives Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The food additives market size has grown strongly in recent years. It will grow from $48.14 billion in 2023 to $51.07 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to consumer demand for convenience foods, government regulations & safety standards, increased urbanization, health and wellness trends, consumer preferences for texture & taste.

The food additives market size is expected to see strong growth in the next few years. It will grow to $64.81 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to clean-label and natural additives, health concerns & obesity management, focus on food safety, global population growth, advances in biotechnology. Major trends in the forecast period include ethnic flavor demand, regenerative agriculture impact, focus on functional beverages, personalized nutrition, transparency & traceability.

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Market Drivers and Trends:

Rising demand for confectionery products is expected to propel the growth of the food additives market going forward. Confectionery products refer to food items that are rich in sugar and carbohydrates, including sweet pastries, cakes, candies, and other baked goods. Food additives play a crucial role in the confectionery industry by providing confectionery items with good taste, prolonged shelf life, improved texture, and appearance. They are essential for enhancing flavors, improving the texture, and other sensory attributes of confections. For instance, in March 2023, according to the National Confectioners Association, a US-based trade organization, total confectionery sales climbed to $42.6 billion in 2022 from $36.9 billion in 2021, representing a growth of 15%. Chocolate sales increased by 9.1% in 2022 in terms of dollar sales growth. Therefore, rising demand for confectionery products is driving the growth of the food additives market.

Product innovations are a key trend gaining popularity in the food additives market. Major companies operating in the food additives market are focused on developing innovative products to strengthen their position in the market. For instance, in May 2022, Lifeasible, a US-based biotechnology company launched nine new sweetener products under its food additives product line, for helping researchers to create more types of healthier foods. The new sweetener products launched by Lifeasible include Regular Stevia (80% -98%), Rebaudioside A, Rebaudioside E, Enzymatically Modified Stevia (EMS), Healthy ready-to-eat sugar, Sucralose, Xylitol, Erythritol, and Sorbitol. A sweetener is a material that is added to food or beverages to give them a sweet flavor, either because it actually contains sugar or a sugar substitute that has been sweetened. Artificial sweeteners are now widely utilized in processed foods and beverages that are made commercially. There are also some organic, non-sugar sweeteners, like the glycyrrhizin in licorice.

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Major Key Players of the Market:

Ajinomoto Co Inc., Archer Daniels Midland Company, Badische Anilin und Soda Fabrik, Cargill Incorporated, Chr. Hansen Holding A/S, Givuadan SA, Ingredion Incorporated, Kerry Group Plc., Tate & Lyle Plc., Novozymes A/S, Koninklijke DSM N.V., E. I. Du Pont de Nemours and Company, Evonik Industries AG, Lonza Group AG, Corbion N.V., DuPont de Nemours Inc., AGRANA Beteiligungs AG, Koninklijke DSM NV, International Flavors & Fragrances Inc., Biospringer, Ingredaco, Economy Polymers & Chemicals, Pharm-RX Chemical Corporation, Covia Corporation, Palmer Holland Inc., TRInternational Inc., Eastman Chemical Company, Palsgaard, DSM NV, Royal DSM

Food Additives Market 2024 Key Insights:

• The food additives market size is expected to see strong growth in the next few years. It will grow to $64.81 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%.
• Increasing Consumption Of Ready-To-Eat Food Drives Growth In The Food Additives Market
• Food Additives Market Sees A Surge In Product Innovations With The Launch Of Nine New Sweetener Products By Lifeasible
• Asia-Pacific was the largest region in the food additives market share in 2023

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