Market Survey on Food Additives Market Covering Sales Outlook, Up-to-date Key Trends, Market Size and Forecast, Production Capacity, Export and Import Analysis, Regulations, Trade Analysis, Brand Analysis and Pricing Analysis.
Trends – Rising demand for vegan and ready-to-eat food is driving market growth.
Opportunities – Rising demand for high-nutrition and preserved food is creating multiple opportunities for the market.
NEWARK, Del., July 8, 2024 /PRNewswire/ — The global food additive market value is expected to grow from US$ 310.9 billion in 2024 to US$ 551.4 billion by 2034. Over the forecast period, global food additive demand is projected to increase at 7.2% CAGR.
Usage of food additives is expected to remain high in the beverage sector during the forecast period. As per the latest report, the target segment is anticipated to account for a market share of 34.0% in 2024.
The market size is increasing as a result of the promotion of healthy food additives by several food and beverage firms. Leading corporations are promoting probiotics, dietary fibers, and prebiotics as healthful foods to gain market share.
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The Factors Increasing the Demand for Food Additives are as follows:
- Growing consumption of processed and ready-to-eat food is increasing the demand for food additives.
- Manufacturers are increasing the adoption of food additives to enhance the taste and flavor of food.
- The increasing consumption of sustainable and high-quality food is surging the demand for food additives.
- Various organizations, including the Food Administrative Organization, the World Health Organization, and the United States Department of Agriculture, are introducing high-quality and standardized food additives. The key objective of this is to increase the market for foreign trade.
- Growing technology, rising demand for healthy food, and food innovation are increasing the adoption of food additives.
- The industry is expanding due to the growing demand for items that can be stored for a long time, such as pickles, sweets, and bacon. Top companies are focusing on maintaining the color of food by increasing the adoption of micro-encapsulation techniques is advancing market growth.
- The food & beverages sector is growing its market by rapidly increasing the adoption of food additives to improve food texture, color, and taste.
- The demand for Food and Beverage Additive is rising in hotels and restaurants as a result of the food’s increased advanced nutrition, which is expanding the market opportunities. Adopting food additives for preserving food to prevent spoilage is influencing market growth.
Food additives play a vital part in the food and beverage industry. They are used for various purposes, from preserving freshness to improving color and texture.
The growing usage of food additives to improve the taste, quality, and texture of different food products is expected to boost the market. Similarly, the ability of food additives like preservatives to extend the shelf life of food products will boost their sales through 2034.
The market for food additives is influenced significantly by consumer preferences and changing lifestyles. There is a rise in demand for processed and packaged food products as consumers seek convenience and a broader range of food variety. This will likely fuel food additive demand.
Food additives make processed food products attractive and safe. They prevent spoilage, maintain nutritional content, and enhance the overall sensory experience of the food. Hence, increasing production and consumption of processed and packaged food products is set to bolster sales of food additives.
Common food additives include flavor enhancers, sweeteners, colors, and stabilizers. They play a critical role in enhancing appearance, extending shelf life, and improving processed food products’ taste, texture, and palatability.
Preservatives help extend the lifespan of goods, thereby reducing food waste. Flavor enhancers and sweeteners enhance the taste of foods and beverages, catering to evolving consumer preferences for exciting and healthier options.
The market is also witnessing a shift toward natural food additives. Growing concerns over several synthetic food additives’ safety and health effects drive this trend.
Key Takeaways from the Food Additives Market Report:
- The global market for food additives is projected to total US$ 551.4 billion in 2034.
- Based on product type, the fine ingredients segment is expected to hold a leading market share of 38.6%.
- By end-use application, the beverages segment is poised to account for a value share of 34.0% in 2024.
- Europe is expected to hold a leading market share of 21.9%, closely followed by North America at 17.8%.
- Demand in the United States is poised to rise with a CAGR of 4.2% through 2034.
- Japan is anticipated to register a CAGR of 6.0% between 2024 and 2034.
“The food additive industry is poised to expand rapidly, driven by growing consumer demand for diverse and convenient food options. To gain maximum profits, key players will look to develop new safe and natural food additives”, says Nandini Roy Choudhury, Client Partner at Future Market Insights.
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Who is Winning?
Chr. Hansen Holding A/S, BASF SE, Royal DSM N.V., Sensient Technologies Corporation, Dow Chemical Company, Nutra Food Ingredients, LLC, Bell Flavors & Fragrances Incorporated, and Ajinomoto Food Ingredients are the key food additive manufacturers listed in the report.
Top companies are expanding product portfolios by introducing new food additives like natural flavors and low-calorie sweeteners. They also employ strategies like advertising, partnerships, acquisitions, agreements, and mergers to gain a competitive edge in the market.
Key Players Listed in the Food Additives Global Market Report
- Chr. Hansen Holding A/S
- BASF SE
- Royal DSM N.V.
- Sensient Technologies Corporation
- Dow Chemical Company
- Nutra Food Ingredients, LLC
- Bell Flavors & Fragrances Incorporated
- Ajinomoto Food Ingredients
- Corbion Food Ingredients
- Food Ingredient Solutions, LLC
- Others (on additional request)
For instance,
- In June 2020, the liquid version of Linablue natural blue food coloring was launched by DIC Lifetec Co., Ltd.
- In 2021, B.T. Sweets unveiled Cambya, a plant-based, one-to-one sugar replacer made from soluble fibers, monk fruit, and select botanicals.
Get More Valuable Insights
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global food additive industry, presenting historical demand data (2019 to 2023) and forecast statistics for the period from 2024 to 2034.
The study incorporates compelling insights on the food additive market based on product type (dairy ingredients, sweeteners, fibers, and fine ingredients) and end-use application (dairy industry, confectionery, bakery, snacks, sauces & soups, pasta & noodles, meat products, baby food, pharmaceuticals, beverages, dietary supplement and personal care) across various regions.
Report Preview: https://www.futuremarketinsights.com/reports/food-additives-market
Food Additive Market by Category
By Product Type:
- Dairy Ingredients
- Sweeteners
- Fibers
- Fine Ingredients
By End-use Application:
- Dairy Industry
- Confectionery
- Bakery
- Snacks
- Sauces & Soups
- Pasta & Noodles
- Meat Products
- Baby Food
- Pharmaceuticals
- Beverages
- Dietary Supplement
- Personal Care
By Region:
- North America
- Europe
- Latin America
- South Asia
- East Asia
- Oceania
- Middle East & Africa
About the Food & Beverage Division at Future Market Insights (FMI)
Future Market Insights (FMI) food & beverage team offers comprehensive business intelligence services, with a vast array of reports and data points analyzed across 50+ countries over a decade. The team provides consulting services and end-to-end research, offering expert analysis, actionable insights, and strategic recommendations to clients worldwide. Contact them to explore how they can assist with your unique business intelligence needs.
Authored by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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