NEW
YORK, June 17, 2024 /PRNewswire/ -- The global
food additives market size is estimated to grow by
USD 14.32 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of almost 4.84% during the forecast period. Rising
demand for processed food is driving market growth, with
a trend towards shelf-life extension of food products.
However, growing demand for fresh foods poses a
challenge. Key market players include Ajinomoto Co. Inc., Archer
Daniels Midland Co., Ashland Inc., Associated British Foods Plc,
BASF SE, Bell Flavors and Fragrances
GmbH, Cargill Inc., Chr Hansen Holding AS, Eastman Chemical Co.,
Evonik Industries AG, Givaudan SA, Griffith Foods Worldwide Inc.,
Ingredion Inc., International Flavors and Fragrances Inc., J M
Huber Corp., Kerry Group Plc, Koninklijke DSM NV, Quality
Ingredients Corp., Tate and Lyle PLC, and Wego Chemical Group
Inc..
![Technavio has announced its latest market research report titled Global food additives market 2024-2028 Technavio has announced its latest market research report titled Global food additives market 2024-2028](https://mma.prnewswire.com/media/2438911/Technavio_Food_Addictives_Mkt.jpg)
Get a detailed analysis on regions, market
segments, customer landscape, and companies - View the
snapshot of this report
Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Application (Bakery and
confectionery, Beverages, Convenience food, Snacks, and Others),
Product (Flavors and enhancers, Acidulants, Colorants, Sweeteners,
and Others), and Geography (North America, APAC, Europe, South
America, and Middle East and Africa)
|
Region
Covered
|
North America, APAC,
Europe, South America, and Middle East and Africa
|
Key companies
profiled
|
Ajinomoto Co. Inc.,
Archer Daniels Midland Co., Ashland Inc., Associated British Foods
Plc, BASF SE, Bell Flavors and Fragrances GmbH, Cargill Inc., Chr
Hansen Holding AS, Eastman Chemical Co., Evonik Industries AG,
Givaudan SA, Griffith Foods Worldwide Inc., Ingredion Inc.,
International Flavors and Fragrances Inc., J M Huber Corp., Kerry
Group Plc, Koninklijke DSM NV, Quality Ingredients Corp., Tate and
Lyle PLC, and Wego Chemical Group Inc.
|
Key Market Trends Fueling Growth
The food additives market experiences growth due to the
implementation of active packaging solutions. This innovation
maintains product quality and extends shelf life, appealing to
consumers worldwide. However, European consumers prioritize fresh,
minimally processed foods without artificial additives.
Consequently, mild processing methods like hurdle technology gain
prominence. These factors collectively contribute to the market's
expansion during the forecast period.
The Food Additives market is experiencing significant growth due
to the increasing demand for processed and convenience foods.
Flavorors, emulsifiers, preservatives, and colorants are among the
most common food additives in use. Global production of these
additives is increasing, with key contributors being North America and Europe.
The use of natural food additives is also on the rise, driven by
consumer preferences for healthier options. The market for
functional food additives, such as probiotics and prebiotics, is
also expanding. The use of advanced technologies like
nanotechnology and biotechnology is expected to further drive
innovation in the food additives industry. Overall, the Food
Additives market is expected to continue its growth trajectory in
the coming years.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
- The global fresh food market is experiencing significant growth
due to increasing consumer preference for preservative-free,
unfrozen foods. This trend is driven by health consciousness and
the WHO's promotion of fresh fruit and vegetable consumption.
Supermarkets' rise also contributes to market expansion.
Conversely, the food additives market may face competition as
global meat production and fresh food consumption increase.
- The Food Additives Market faces several challenges in the use
of various additives. Regulations and consumer preferences are key
issues. Colors, flavors, preservatives, and antioxidants are
commonly used additives.
- Producers must comply with food regulations and consumer
expectations for safety and naturalness. Milk, fruits, and
vegetables are natural sources for many additives. However,
synthetic alternatives offer cost advantages and longer shelf life.
Producers must balance consumer demand for natural products with
the need for efficient production and cost control.
- The use of certain additives, like artificial sweeteners and
food dyes, remains controversial due to health concerns.
Sustainability and ethical considerations also impact the market.
Producers must navigate these challenges to meet consumer demands
and remain competitive.
For more insights on driver and
challenges - Download a Sample Report
Segment Overview
- Application
- 1.1 Bakery and confectionery
- 1.2 Beverages
- 1.3 Convenience food
- 1.4 Snacks
- 1.5 Others
- Product
- 2.1 Flavors and enhancers
- 2.2 Acidulants
- 2.3 Colorants
- 2.4 Sweeteners
- 2.5 Others
- Geography
- 3.1 North America
- 3.2 APAC
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Bakery and confectionery- The Food
Additives Market is a significant business sector, driven by
increasing consumer demand for convenience and extended shelf life
in food products. Key players in this market include Danisco,
DuPont, and Archer Daniels Midland. They supply additives such as
preservatives, sweeteners, and colors to food manufacturers
worldwide.
Market growth is fueled by population growth and changing
dietary preferences, leading to increased demand for functional
food additives. Regulations, however, remain a challenge, with
stringent rules governing the use of certain additives in different
regions. Despite this, the Food Additives Market continues to
expand, offering opportunities for innovation and growth.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2018 - 2022) - Download a Sample Report
Research Analysis
The Food Additives Market encompasses a wide range of
ingredients used to enhance the sensory attributes, shelf life, and
functional properties of consumer foods. These additives include
specialty food ingredients, sensory ingredients, and functional
ingredients such as vitamins, acidulates, antioxidants, and fat
replacers. The market is driven by the increasing disposable
incomes of consumers, leading to a greater demand for healthy food
options.
Breweries, E-retail, and food companies are significant
consumers of food additives. Multifunctionality and
micro-encapsulation techniques are key trends in the market,
enabling color delivery and clean labeling while maintaining the
desired taste, texture, and flavor. Business opportunities lie in
the development of innovative additives that cater to consumer
preferences and regulatory requirements.
Market Research Overview
The Food Additives Market encompasses a wide range of substances
used to enhance the quality, extend the shelf life, and modify the
physical and sensory attributes of food products. These additives
include preservatives, colors, sweeteners, emulsifiers, and
flavors, among others. The global Food Additives Market is driven
by various factors such as increasing consumer awareness about food
safety and health, changing dietary preferences, and the growing
demand for convenience foods.
The market is segmented based on the type of additives,
applications, and regions. The market for Food Additives is
expected to grow significantly in the coming years due to the
increasing demand for processed and packaged food products
worldwide. The market is also witnessing significant innovation,
with companies developing new and advanced additives to cater to
the evolving consumer needs and preferences.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
-
- Bakery And Confectionery
- Beverages
- Convenience Food
- Snacks
- Others
- Product
-
- Flavors And Enhancers
- Acidulants
- Colorants
- Sweeteners
- Others
- Geography
-
- North America
- APAC
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
View original content to download
multimedia:https://www.prnewswire.com/news-releases/food-additives-market-size-is-set-to-grow-by-usd-14-32-billion-from-2024-2028--rising-demand-for-processed-food-to-boost-the-market-growth-technavio-302173172.html
SOURCE Technavio