Market Overview and Key Restraints:
Food additives are used extensively for wide variety of purposes, such as for enhancing taste of the product, for giving the food product and appealing look, texturizing, and for additional health benefits (antioxidants and for use as functional food ingredients). In addition, the enhancement of the product development together with advancement in technology is considered to be one of the significant reasons for the increasing growth of the food additives market during the review period. However, demand for natural food additives is growing significantly as the consumers are now more aware of harmful impact of synthetic additives and is more inclined towards naturally derived food additives. This serves as an opportunistic area for the manufacturers for product expansion and increasing revenue generation possibility
The demand for the product remains strong from foods and beverages industry. Increasing health concerns among population, across the globe coupled with the increasing awareness about the benefits of consuming food additives are the key driving factors for the growth of food additives market. Additionally, rapidly changing lifestyle, growing demand for food, beverages, and confectionery is expected to augment the global food additives market. Owing to rising demand for flavors and preservatives in the foods and beverages industry, the market of food additives is growing at an incremental pace globally.
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Latest Industry Updates:
Jan 2018 Arjuna Natural Ltd. introduced natural preservatives for extending shelf life of vegetable oil used for frying. The natural preservative will help in preventing oxidation, thermal degradation, and hydrolytic rancidity. The product is GMO-free, oil soluble and vegan.
Aug 2017 In order to capitalize on the rising demand for natural sweeteners, Coca-Cola announced their interest in investments in all-natural low- or no-calorie sugar alternatives. The innovation through HeroX crowdsourcing platform will help the company in expanding and strengthening their business portfolio.
Jun 2017 Zydus Wellness launched a new variant of sugar free, namely sugar free green in two formats (powder and pellets). The product is developed using stevia leaves.
May 2017 Whole Earth Sweetener Company, launched their new stevia range in the U.K. The company’s strategy is to capitalize on the rising demand for natural sugars based on increasing health consciousness among the consumers.
Mar 2017 ED&F Man and Unavoo launched natural sweetener breakthrough that cuts sugar by 100%. The product claims to have high potential as sugar replacer.
Jul 2016 Food color adds to the organoleptic properties of the food product and is a vital food additives. Sentient launched yellow and orange food colors to broaden their food color range.
Novel players are entering the market to capitalize on the growing demand for the product at the global level. Owing to the changing global trend, consumers are increasingly inclined towards adopting healthy life-style and hence the demand for healthy food ingredients and additives has escalated. The key players are identified to be investing more on new product launch and acquisitions to strengthen their market position. The best long-term growth opportunities for this sector can be captured by ensuring ongoing product innovations and investments in the R&D sector to obtain quality products.
The key players included in Food Additives Market are BASF SE (Germany), Cargill Inc. (U.S), Archer-Daniels-Midland Company (U.S.), Kerry Group plc. (Ireland), E. I. du Pont de Nemours and Company (U.S.), Evonik Industries AG (Germany), and Tate & Lyle plc. (U.K.) among many others.
On The Basis Of Source: Synthetic, and Natural
On The Basis Of Application: Beverages, Bakery & Confectionery, Sweet & Savory snacks, Dairy & Frozen Desserts, Oils & Fats, and Others
On The Basis Of Region: North America, Europe, Asia Pacific, and ROW.
The global food additives market has been divided into type, source, application, and region.
On The Basis Of Type: Acidity Regulators, Colors, Flavors, Enzymes, Preservatives, Sweeteners, Stabilizers & Thickeners, Anticaking Agents, and Others
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The global food additives market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Global food additives market is dominated by North America and Europe due to high demand for food commodities and increased health consciousness supporting the sales of natural ingredients. APAC is the fastest growing region due to changing lifestyle and improved disposable income in the region. The consumption of food additives in countries like Germany, the U.S., India, Brazil, and China is projected to grow during the forecast years.
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