Global Organic Food Additives Market Share, Demand, Growth, Forecast 2024
Organic Food Additives Market Overview
The vitamins & minerals, antioxidants, acidulants, food coloring agents, emulsifiers, sweeteners, thickeners, and stabilizers are generally termed as food additives. The food additives help to preserve quality and enhance the taste of processed food. However, synthetic food additives may have few effects on the skin as well as the overall health of people. Thus, the demand for organic or plant or animal-based additives is growing. In order to cater to this demand, the key players are trying to offer products based on organic food additives. This trend is fueling growth of the global organic food additives market. Thanks to this factor, the organic food additive market growth is estimated to expand by exhibiting a CAGR of 3.8% during the forecast period from 2019 to 2024 and is likely to reach a value of USD 3.45 billion by 2024.
The increase in the pool of health-conscious people, who prefer organic foods and beverages over traditional additives in baked and processed foods is catalyzing growth of the global organic food additives market. The huge demand for baked products, frozen foods, and confectionery items globally are fueling market growth. Further, the increasing consumer inclination is increasingly for read-to-cook and ready-to-eat foods for saving time in their busy schedules.
Further, several food additives are certified and accepted by the government, and other governmental bodies are fueling growth of the market. These bodies identify safer additives to be used in the food and beverages before certifying it. This factor is driving growth of the global organic food additives market. Moreover, an increase in per capita income, especially in emerging countries, is augmenting demand for baked and processed food, which is further providing traction for the growth of the global organic food additives market.
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Organic Food Additives Market Competitive Analysis:
Some of the key players in the global organic food additives market include E.I. du Pont de Nemours and Company, Cargill Inc., Archer Daniels Midland Company, Chr. Hansen Holding A/S, BASF SE, Kerry Group Plc, Novozymes A/S, Danisco A/S, Tate & Lyle, Givaudan, Firmenich SA, Brenntag AG, Associated British Foods plc, Foodchem International Corporation, and International Flavors & Fragrances Inc.
Organic Food Additives Market Segmentation:
The organic food additives market is segmented based on form, type, application, and region.
By form, the organic food additives market is categorized into dry and liquid.
By application, the organic food additives market share is segmented into bakery & confectionery, dairy & frozen dessert, beverages, sweet & savory snacks, sauces & dressings, soups, and others.
By type, the organic food additives market is segmented into acidulants, colorants, vitamins & minerals, hydrocolloids, flavors & sweeteners, enzymes, and others.
Organic Food Additives Market Regional Analysis:
Based on the region, the organic food additives market is segmented into Europe, North America, Asia-Pacific and the Rest of the World. Of these, North America is estimated to dominate the global organic food additives market owing to increasing consumer awareness about the benefits of consuming organic and natural food additives. Additionally, the widening use of organic food additives in bakery and confectionaries is driving growth of the market in the region.