Food Additives Market - Evolving Industry Trends and key Insights by 2021

Food additives are ingredients which are added to the end food products to enhance the taste and appearance. The food additives market by source can be segmented into artificial and natural. In addition food additives market by type has been segmented into flavors and enhancers, sweeteners, enzymes, colorants, emulsifiers, food preservatives, and fat replacers. Increasing demand for functional food additives is also boosting the demand for food additives globally.

Growth in the food and beverage industry across the world is the major driving factor of the global food additives market. The food and beverage industry is a major end user of food additives. Additionally, rising demand for high quality food products due to high income levels and increasing concern to improve the overall health is also fuelling the demand for the global food additives market at present. Increasing health awareness among the consumers across all regions is fuelling the demand for functional food ingredients. Obesity is one of the major health issues at present and its prevalence is the most in the developed nations such as U.S., Canada, Germany, U.K and France among others. However, obesity issues have also penetrated the young population in recent times. Owing to these factors, the demand for low fat and low calorie food that helps to reduce the overall fat content is gaining popularity among the consumers. This in turn is fuelling the demand for additives such as emulsifiers and sweeteners among others. Therefore, the rising demand for functional food additives is majorly fuelling the demand for the global food additives market at present.

View exclusive Global strategic Business report: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1011

Stringent regulations laid down by the regulating bodies such as the Food and Drug Administration (FDA), European Food and Safety Authority (EFSA) and the European Union (EU) Legislation regarding the safety of food additives is currently inhibiting the growth of the global food additives market. Currently food additives are very strictly regulated and monitored by various regulatory bodies. The U.S. Food and Drug Administration (FDA) set safety standards which determine whether the substances are safe for its usage and intended use. Rigorous testing is being done to determine the compliance of various food additives as per the directives. In addition, the food manufacturers have to prove to FDA that their product is safe before introducing in the market. Under European Union (EU) legislation, food additives must be authorized before they can be used in foods. Authorization by risk managers follows a thorough safety assessment carried out by the European Food Safety Authority (EFSA). Once authorized, these substances are compiled on an EU list of permitted food additives, which also specifies their conditions of use. Therefore, these stringent regulations by the regulating bodies are currently restraining the growth of the global food additives market.

Natural preservatives are gaining momentum in the market driven by the need to replace synthetic and artificial preservatives to have cleaner and healthier products. In spite of their higher cost and limitation, the market for natural additives is witnessing robust growth and it is expected to continue its dominance in the future as well.

There are two types of food additives, when added for a specific purpose it is known as direct additive for e.g. salt, and when added for packaging, storing or handling of food, it is known as indirect additives. Additives are used to maintain and improve the safety of packaged food, enhance nutritional value, improve taste, appearance, texture and consistency of food. More than 3,000 additives are estimated to be used globally within drink and food products. These additives are used for various purposes such as enhancing the texture of the food, to stop the microbes from multiplying and spoiling the food, to improve the appearance of the food, to add flavor and alter the texture of the food through gel formation and for many more reasons.

Among the different product types of food additives, flavors and enhancers held the largest market in 2014 and is estimated to hold the largest market throughout the forecast period. Flavors and enhancers is followed by fat replacers, which is estimated to hold the largest market for food additives over the forecast period.
By source, artificial food additives held the largest market for food additives in 2014. However, natural food additives are estimated to be the fastest growing segment over the forecast period.

Among the different regions including North America, Europe, Asia Pacific and RoW, Europe held the largest market share of 30.1% in 2014, followed by Asia Pacific. Asia Pacific held a market share of 27.2% during 2014. However, Asia Pacific is expected to hold the largest market for food additives by 2021.

The global food additives market was valued at USD 31.43 billion in 2014 and is projected to reach USD 39.85 billion by 2021 in terms of revenue. The market in terms of revenue is expected to grow at a CAGR of 3.4% over the forecast period.

Ajinomoto Co Inc, BASF SE, Cargill Inc., Archer Daniels Midlands Company are some of the major players operating in the global food additives market.

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

US Office Contact

90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com

This release was published on openPR.