The Global Food Additives market has been estimated at USD 40.50 Billion in 2016 and is projected to reach USD 53.56 Billion by 2021, at a CAGR of 5.75% during the forecast period from 2016 to 2021.
Food additives are basically used for imparting specific desired properties to food products, enhancing food palatability in terms of food appearance & appeal, ensuring food safety through prevention of contamination, and through extended shelf-life of products. They have gained growing level of importance over the years owing to the diverse requirements of the food industry, end consumers.
The market for Food Additives is mainly driven due to growing consumption of food and beverages with high nutrition content and the better visual appeal, which are enhanced by food additives. growing demand for packaged products including ready-to-eat meals, appetizers and frozen meals is also increasing the demand for additives.But, the market growth is declining due to stringent laws to determine the safe additives, which is making the process complex to register to new additives by companies.
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Global market for Food Additives is segmented based on type, source and application. By type, the market is further sub-segmented into Acidulants, Anti-caking agents, Colors, Emulsifiers, Enzymes, Flavors, Hydrocolloids, Preservatives, Sweeteners.
By Source, the market is further sub-segmented into Natural and Synthetic. By Application, the market is further sub-segmented into Bakery & confectionery, Beverages, Convenience foods, Dairy & frozen desserts, Spices & condiments, sauces & dressings.
The flavors segment accounts for the largest market share followed by the sweeteners segment in the market by type. The demand for food additives in beverages accounted for the largest share, while the sauces, dressings, spices, condiments segment is projected to be the fastest-growing segments.
Geographically, Global market for Food Additives is segmented into North America, Asia Pacific, Latin America, Europe, and Middle-East and Africa. North America is the biggest market in terms of market share across the globe, followed by Europe.
Food Additives demand in the Europe region is increasing owing to growing importance of functional ingredients for incorporating properties such as emulsification, flavor, and extension of shelf life. The Food Additives market in the Asia-Pacific region is projected to grow at the highest CAGR, which is greatly influenced by consumer preferences for healthy eating, trend towards natural & organic foods in the emerging economies.
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E.I. DuPont , Archer Daniels Midland Company, Cargill, Incorporated, CHR. Hansen Holding A/S, Kerry Group Plc, and BASF SE are the major players of Global Food Additives market.
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