Due to rising demand for flavors, and preservatives in the food industry, the market of food additives is growing at an incremental pace globally. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on Global Food Additives Market Research Report- Forecast to 2024 that the market will demonstrate an exponential growth while achieving billion-dollar growth rapidly in the forecast period.
The global food additives market is increasing due to increased demand for food additives in food and beverages industry. Growing health concerns among the global population, together with the increasing awareness about the benefits of consuming food additives are the key driving factors for the growth of food additives market. In addition to the changing lifestyle, the growing demand for food, beverages, and confectionery is expected to drive the global food additives market.
Additionally, the enhancement of the product development coupled with technological advancements is considered to be one of the significant reasons for the increasing growth of the food additives market during the review period. However, health conscious consumers nowadays precisely look for product labels to know the exact composition of packaged foods before purchasing which has a direct impact on manufacturers to switch for natural food additives in packaged foods.
New players are entering the market to penetrate the global market and generate revenues out of their food additives offerings. With the changing global trend, consumers are increasingly getting inclined towards adopting healthy lifestyle and hence the need for healthy food ingredients and additives has increased. Established 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 profiled 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.
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
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 is segmented into North America, Europe, APAC, and Rest of the World (RoW). Global food additives market is highly 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 that region. The consumption of food additives in countries like Germany, the U.S., India, Brazil, and China is expected to grow in the upcoming years.
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