Market Overview:
The Global Food Additives Market size is expected to grow from USD 49.14 billion in 2022 to USD 73.71 billion by 2030, at a CAGR of 5.2% during the forecast period (2023-2030).
Any substance, natural or artificial, that is added to food in order to produce certain desired effects is referred to as a food additive. Food products or beverages can have additives added to them to extend their shelf life and improve taste, texture, and texture. These additives include colorants, flavors, sweeteners, and preservatives. Additionally, food additives can be created using plants, animals, and minerals, or they can be synthetic and easily accessible at low cost, giving manufacturers a cost advantage. Additionally, natural additives are less processed than synthetic sources and offer nutritional advantages, which drive market expansion over the course of the forecast period.
Top Key Players Covered In The Food Additives Market:
- DuPont (U.S.)
- Archer Danial Midland (ADM) Company (U.S.)
- CHR Hansen Holding A/S (Denmark)
- BASF SE (Germany)
- Cargill Incorporated (U.S.)
- Kerry Group Plc. (Ireland)
- Ashland Inc. (U.S.)
- Tate and Lyle Inc. (U.K.)
- Corbion NV (Netherlands)
- Royal DSM NV (Netherlands)
- Red Arrow International Inc. (U.S.)
- McCormick and Company inc. (U.S.)
- Associated British Food Plc. (U.K.)
- International Flavors and Fragrance Inc. (U.S.) and other major players.
Market Dynamics and Factors:
Increasing demand from several industries is driving the food additives market. Due to shifting consumer tastes and interest in product quality and nutritional value, the global food additive market is anticipated to expand. Increased consumer knowledge of various flavors is also probably going to be a major factor in fostering growth. The final product contains additives to improve defense against harmful bacteria and other types of microorganisms and lengthen shelf life. Additionally, it increases the nutritional content and gives foods qualities like flavor, color, and taste. Food additives are substances that are added to food to enhance certain qualities, such as taste, consistency, flavor, the surface that blocks light, and shelf life.
Innovative advances in food additives are expected to drive the food additives market. The rapid expansion of technology in the industry pertaining to consumers’ demand for healthy and organic food options will positively affect market growth. Leading manufacturers operating on the global market in the coming years should benefit from new developments in food additives and ongoing R&D efforts. Companies are largely engaged in collaborations and joint ventures to cater to high demand from the food and beverage industries.
Food Additives Market Report Highlight:
- By type, the flavor segment is anticipated to lead the growth of the Food Additives market in the forecasted timeframe. It is essential to the acceptance and consumption of quality in daily life, which fuels industry expansion due to the increasing use of enzymes to extract flavor compounds from natural sources to meet product demand.
- By Application, the bakery and confectionery segment is expected to have the highest share of the Food Additives market over the projected period. Enzymes, sweeteners, emulsifiers, and dietary fibers are the additives used mostly to boost the quality of bakery and confectionery products.
- By Source, the natural segment is set to develop at the highest CAGR during the forecasted timeframe. This is due to the fact that natural additives are safer to consume than their chemical counterparts.
- By distribution channels, the supermarkets/hypermarkets segment is expected to have the highest share of the Food Additives market over the projected period. Because supermarkets are convenient for people who are willing to buy food additives they can access other food products also.
- The Asia Pacific region is expected to have the highest share of the Food Additives market over the projected period. Growing demand for food preservatives, increasing awareness of food safety and increasing consumption of food safety which lead to market growth over the forecast period.
Key Industry Development:
In February 2019, The US Department of Agriculture and The European Organic Certifiers Council certified Frutarom Natural Solutions Ltd, a division of International Flavors and Fragrance Inc, as having organic annatto color.
In September 2020, CHR Hansen Holding A/S announced that they sell its subdivision of Natural Color Business to EQT IX.
Food Additives Market Segmentation:
By Type
- Acidulants
- Colors
- Emulsifiers
- Flavors
- Sweeteners
- Others
By Application
- Food & Beverages
- Diary & Frozen Products
- Bakery & Confectionary
- Spices & Condiments
- Sauces & Dressings
- Convenience Foods
- Others
By Source
- Natural
- Synthetic
By Distribution Channels
- Specialty Store
- Supermarket/Hypermarket
- Online
- Others
For this report, Introspective Market Research has segmented the Food Additives Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)
North America
- The U.S.
- Canada
- Mexico
Eastern Europe
- Russia
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest of Eastern Europe
Western Europe
- Germany
- UK
- France
- Netherlands
- Italy
- Spain
- Rest of Western Europe
Asia Pacific
- China
- India
- Japan
- Singapore
- Australia
- New-Zealand
- Rest of APAC
Middle East & Africa
- Turkey
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
South America
- Brazil
- Argentina
- Rest of SA
