Industry Insights
Increasing demand of convenience food with longer shelf life is going
to drive the food additive market in coming five years. Food additives
are used to improve as well as maintain the safety, nutritional value
& texture, improve appearance & taste of the food. Increasing
demand of sophisticated food products with ethnic & exotic taste is
one of the prominent drivers which are expected to drive the food
additive market over the forecast period.
Furthermore, food additive usage is going to increase, with increase
in demand of food products consisting organic and natural ingredients,
delivering health benefits and supporting weight loss. Innovations and
new developments in food science & technology are going to lead the
growth of the food additives as well as food market in coming years.
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Food additives include a wide range of antioxidants and preservatives
which help slow product spoilage, rancidity and preserve the taste of
food. These benefits are going to expel the food additive market growth
over the forecast period. More than 3000 additives are forecasted to be
used in food as well as beverages to control the bacteria and other
microbes from spoilage of the food.
Change in tendency of consumers towards natural additives as well as
synthetic additives, boom in food and beverages industry and the
increasing health concerns are the major factors expected to augment the
market growth over the forecast period. However, imposed restrictions
by government and shortage of raw materials for food additives are going
to challenge the market growth in next five years.
Product Insights
The food additive market is segmented into 7 products including
sweeteners, flavours & enhancers, enzymes, emulsifiers, colorants,
shelf- life stabilizers, and fat replacers. Sweetener products are going
to witness the fastest growth in coming years owing to increasing
diabetic and heart patients. Fat replacer products are expected to
witness significant growth due to increasing awareness of obesity and
its adverse effects.
Increasing requirement of storage food owing to hectic schedule is
expected to drive the growth of long shelf life stabilizer food
products. Rise in demand of convenience as well as ready to eat food are
expected to spur the food additive market globally.
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Regional Insights
North America is expected to witness the highest growth owing to
higher consumption as well as production of food additives. With
increasing awareness, Europe and Asia Pacific regions are expected to
emerge as the fastest growing market over the forecast period. Health
concern and increasing demand of ready to eat food are going to impact
the market growth globally.
Competitive Insights
Royal DSM N.V, Eastman Chemicals, BASF, Danisco, Givaudan, and Archer
Daniels Midland are the key players in the global food additive market.
The manufacturers of food additives are expected to innovate the
products to keep up with changing demand and interests of consumer.
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