Global Food Additives Market is projected to grow at a high CAGR from 2017 to 2022
Growing demand of additional nutritional content and need for particular characteristics in food such as color, taste, among others has been driving the growth of the food additives market. A stable growing population and consumption levels has given way to retail expansion and new products, which directly impacts and promote the food additives industry. Food additives are segmented into acidulants, colors, emulsifiers, enzymes, flavors, hydrocolloids, preservatives and sweeteners. The flavors segment dominates the food additives market due to increasing demand for natural flavors derived from herbs and spices. The enzyme market is the fastest growing due its cost effectives over other artificial chemicals and environment friendliness.
The report is designed to provide a complete view on the global Food Additives market. The report has been categorised into qualitative and quantitative insights over the forecast period (2017-2022). The demand and supply matrix section falls under the qualitative information category wherein the market dynamics for Food Additives market has been studied considering a short term forecast of the factors/ variables which have an impact on Food Additives market. The market segments and their respective estimates & forecasts has been covered under the quantitative information category. Regional estimates and forecasts & trend analysis for each country and region is also available in the study. The report concludes by providing the competitive landscape of the major market participants which are profiled by analysing their organic & inorganic growth strategies, regional presence, and product portfolio among others.
Importance given to product shelf life, taste and variety, Demand for packaged and fast food, Demand for natural food additives for healthy lifestyle, Increasing production of dairy and meat products which require additives, and Rampant expansion of the food and beverages industry are the major factors influencing the growth of food additives market.
Study Technique: Global Food Additives Market
The global Food Additives market has been studied from the year 2016 till 2022. However, the CAGR provided in the report is from the year 2017 to 2022. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process. The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Food Additives market. The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers. Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company’s manufacturing Food Additives, and customer analytics.
End-User Landscape (Consumer Profile): Food Additives Market
Companies such as the Cargill Inc, Archer Daniels Midland Company, BASF SE, and E.I. Dupont among others are investing extensively in the manufacturing and sale of Food Additives, which presents a huge opportunity to Food Additives suppliers. The report provides a detailed list of end-users operating across the world. The end-user landscape includes consumer contact details, geographical presence, revenue, product portfolio, organic, and inorganic growth strategies among others.
Global Food Additives Market Segmentation
There are two sources of food additives, natural and synthetic. Natural plant based additives are widely preferred over artificial ones. There are several health risks associated with synthetic additives, which is why individuals and health conscious customers prefer products with natural additives. In recent times, health conscious customers methodically check product labels and ingredients used to know the precise composition of ingredients used in the product before buying it. Organic labelling is a growing trend which is promoting the natural additives market. Natural additives are however limited and comparatively more expensive which will aid the growth of this market. With growing demand for packaged and fast food, manufacturers are demanding customized synthetic flavors and enhancers to develop new varieties, this is and will continue to propel growth in the global food additives industry.
Based on application, the market is segmented into bakery and confectionery, beverages, dairy and frozen desserts. Additives are used in the food and beverages industry to enhance flavors, shelf life of the product, control fat content, and prevent contamination, among others. The beverages and confectionary segment have maximum grasp on the market followed by bakery and confectionary. The market is dominated by the North American region however lately, the Asia-Pacific region has shown a steady compound annual growth rate. The market in this region is influenced by its growing population, and rapid industrialisation, and preference for quality produce which makes it an ideal condition for the food additives market to grow.
Cargill Inc, Archer Daniels Midland Company, BASF SE, E.I. Dupont, Kerry Group, Evonik Industries AG and Ingredion Incorporated among others account for the major share in Food Additives market. Companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position. The other companies profiled in the report include: Tate & Lyle Plc, Chr. Hansen Holding A/S, and Novozymes A/S.
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