Food Additives Market Is Expected To Expand At A CAGR Of 5.5% From 2020 To 2028
Food Additives Industry Overview
The global food additives market size was valued at USD 98.22 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.5% from 2020 to 2028. The requirement of improving taste, texture, mouthfeel, and overall appearance of food and beverages is expected to propel the demand for food additives. The growing food and beverages industry globally is the key factor driving the market. The consumption of packaged food products and beverages across the world is rising due to the changing dietary patterns of the population. This is expected to contribute to the surging demand for additives used during food processing to improve its quality and nutritional content.
The preference for a plant-based diet and the growing interest of consumers to pay more for clean-label products in the U.S. have surged the consumption of food and drinks infused with natural ingredients. In May 2021, Ventura Foods, LLC, a U.S.-based company, launched new plant-based and dairy-free salad dressings under Marie’s brand. The product is expected to attract vegan consumers in the U.S.
Food and beverage companies are focusing on reducing the sugar, fat, and overall calorie content in their products. Regulatory approvals for such low-calorie sweeteners and fat replacers are expected to offer an opportunity to produce low-sugar and low-fat food and beverage products.
Gather more insights about the market drivers, restrains and growth of the Global Food Additives market
In May 2021, the Malaysia Ministry of Health officially accepted SweeGen’s zero-calorie Bestevia sweeteners, Rebaudioside D, E, and M, for use as ingredients in food and beverage products. Similarly, in June 2020, plant-based oil of Epogee, namely, Esterified Propoxy late Glycerol (EPG) fat replacer, received generally regarded as safe (GRAS) approval from the U.S. Food and Drug Administration (FDA) for use in various food applications. The prevailing trend of having low-calorie and low-sugar food and drinks among consumers is thus supporting the market growth.
Manufacturers are adopting new technologies to improve their production processes and offer high-quality ingredients. For instance, in June 2021, Firmenich SA launched Firgood Ingredients that are pure and made from 100% natural extracts. Extracts are obtained using the company’s patented water-based extraction technology without the use of toxic chemicals.
Browse through Grand View Research's Food Additives & Nutricosmetics Industry Research Reports.
- Specialty Food Ingredients Market - The global specialty food ingredients market size was valued at USD 118.04 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.4% from 2022 to 2030. The rapid expansion of key application industries including food and beverages, pharmaceuticals, and personal care and growing penetration of organized as well as e-retail across the world are primarily fueling growth in the industry. Specialty food ingredients typically preserve, texture, emulsify, color, and help to process and add an extra health dimension to produced food.
- Tartaric Acid Market - The global tartaric acid market size was valued at USD 351.42 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.0% from 2022 to 2026. The market growth is attributed to the increasing consumption of wine and food and beverages. The rise in the global population has caused a rapid rise in the global demand for food and beverages. Tartaric acid is a white crystalline organic acid. It is naturally found in grapes, apples, apricots, tamarind, and banana, among others.
Food Additives Market Segmentation
Grand View Research has segmented the global food additives market on the basis of product, source, application, and region:
- Product Outlook (Revenue, USD Million, 2017 - 2028)
- Flavors & Enhancers
- Sweeteners
- Enzymes
- Emulsifiers
- Shelf-life stabilizers
- Fat Replacers
- Prebiotics
- Probiotics
- Dietary Fibers
- Others
- Source Outlook (Revenue, USD Million, 2017 - 2028)
- Natural
- Synthetic
- Application Outlook (Revenue, USD Million, 2017 - 2028)
- Bakery &Confectionery
- Beverages
- Convenience Foods
- Dairy & Frozen Desserts
- Spices, Condiments, Sauces & Dressings
- Others
- Crisscross Analysis, Product by Source Outlook (Revenue, USD Million, 2017 - 2028)
- Flavors & Enhancers
- Sweeteners
- Enzymes
- Emulsifiers
- Shelf-life stabilizers
- Fat Replacers
- Prebiotics
- Probiotics
- Dietary Fibers
- Crisscross Analysis, Product by Application Outlook (Revenue, USD Million, 2017 - 2028)
- Flavors & Enhancers
- Sweeteners
- Enzymes
- Emulsifiers
- Shelf-Life Stabilizers
- Fat Replacers
- Prebiotics
- Probiotics
- Dietary Fibers
- Regional Outlook (Volume, Million Units; Revenue, USD Million, 2017 - 2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Market Share Insights
- June 2021: Kerry opened a new taste facility in Irapuato, Mexico. This is expected to strengthen the company’s position in the Mexican market and support the local customer base with advanced solutions of flavors and enhancers.
- December 2020: Tate & Lyle acquired Sweet Green Fields, a stevia solutions business having its production and research & development facilities located in China. This move is expected to strengthen the company’s position in the clean label sweetener market in China and the Asia Pacific region.
Key Companies profiled:
Some prominent players in the global Food Additives market include
- ADM
- Hansen Holding A/S
- Ingredion Incorporated
- Novozymes A/S
- Tate & Lyle Plc
- DSM
- Ajinomoto Co., Inc.
- Cargill, Incorporated
- BASF SE
- Givaudan
- International Flavors & Fragrances, Inc.
- Biospringer
- Palsgaard
- Lonza
- Sensient Technologies Corporation
- Kerry
- Corbion
- Fooding Group Limited
- DuPont
- The Kraft Heinz Company
Order a free sample PDF of the Food Additives Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Comments
Post a Comment