Press release
Global Food Additives Market: Growth of Food and Beverages Industry to Boost Market Growth
The rising awareness regarding health among consumers is also fueling the global food additives market. However, the strict rules and regulations pertaining to composition of food additives are expected to hamper the global market in the near future.
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Flavors and Enhancers to Maintain Dominance in Future
Flavors and enhancers, enzymes, sweeteners, colorants, food preservatives, emulsifiers, and fat replacers are major products in the global food additives market. Among these, the market for flavors and enhancers led the global food additive products market in 2014 and is likely to maintain its leading position in the coming years. The fat replacers market holds the second position is the global market.
Natural food additives and artificial food additives are the two main segments of the global food additives market based on source. The market for artificial food additives led the global market in 2014 and studied market estimations indicate dominance of this segment in the forthcoming years also. The low cost of artificial or synthetic food additives compared to natural additives is the key reason for this growth. However, the rising concerns pertaining to health among consumers has propelled the natural food additives market significantly. This segment is expected to report the fastest growth in the near future.
Asia Pacific to Attain Leading Position in Coming Years
The worldwide market for food additives is spread across North America, Europe, Asia Pacific, and the Rest of World. Among these, the food additives market in Europe acquired the leading position with a 30.1% share in the overall market in 2014, whereas the Asia Pacific food additives market stood second with a market share of 27.2% the same year.
Obesity has become the biggest problem among teenagers in Europe and its prevalence is increasing at an alarming rate. Owing to this, the demand for low-calorie and low-fat food has increased significantly and has fueled the demand for additives such as sweeteners, emulsifiers, hydrocolloids, vitamins, and minerals in the region.
On the other hand, analysts expect the Asia Pacific market to occupy the dominant position in the forthcoming years owing to the increased demand from the booming food and beverages market in Asian nations such as India, China, and South Korea.
Global Food Additives Market: Major Players
The global food additives market is highly concentrated in nature, with a small number of market participants. The major players in this market are AVEBE U.A., Cargill Inc., Archer Daniels Midland Co., Chr. Hansen A/S, Ajinomoto Co. Inc., BASF SE, Associated British Foods plc.
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