The Global Food Additives Market was valued at USD 110.00 Billion in 2023 and is estimated to reach USD 178.82 Billion by 2033, growing at a CAGR of 6.8% from 2023 to 2033.
Scope of the market:
The reason for this market growth isthe rising consumption of ready-to-eat and processed food has increased the demand for food additives. To enhance the level of food with flavours most manufacturers are adopting food additives.
Organizations like the WHO, the Food Administrative Organization, and the U.S. Department of Agriculture are adopting standardized food additives to increase high-quality food, which will increase foreign trade.
The foodadditives industry is expanding due to its demand for storing food for a long time, further developing technology and food innovation are also the main reasons for this industry to develop.
Market opportunities are rising due to its demand in restaurants and hotels maintaining its capacity to be healthy and prevent it from spoiling. Moreover, top organizations are using techniques such as microencapsulation to maintain the colour of the food.
Considering the source segment natural food additives is dominating due to manufacturers are demand for natural colours and ingredients. In coming years this segment is expecting a high of 5.6% CAGR with a high revenue of 81.9% in 2022. As compared to artificial or chemical products naturally sourced additives are far safer to consume.
Economic Impact of Covid-19:
The analysis of the COVID-19 recovery trajectory provides an overview of the main strategies that industries are implementing to respond to and recover from the economic crisis. It alsofocuses on the post-pandemic and pre-pandemic era of the Global Food Additives Market through PEST analysis, SWOT, Quantitative and Qualitative analysis, Attractive analysis, and DROs.
Key Players:
- Kerry Group
- Kalsec Inc.
- Tate & Lyle PLC
- Cargill, Inc.
- BASF SE
- Evonik Industries Inc.
- Givaudan
- Biospringer
- Lonza
- Corbion
- Ingredion Incorporated
- Novozymes A/S
These players are considered in the report based on Company Profile, company overview, strategies, recent developments and trends, and financial overview.
Mergers and acquisitions and the launching of new services and products are helping key players to make their strategies in the forecast.
Recent Developments in GlobalFood Additives Market.
BASF SE and Cargill Incorporated announced a collaboration in U.S. to provide advanced-level enzyme solutions to animal protein producers, this duo will aim to deliver high-performance enzymes which will in return benefit the needs of this industry.
ADM is the leading firm in agriculture origination and processing firm in human and animal nutrition. A joint venture firm named ScaleUp Bio was established in Singapore by ADM.
In the UK to grow its food innovation capacity the ADM has developed a new centre for customers. Further developing a new culinary innovations and flavour creation lab including the modern kitchen and a chef presentation theatre.
Cargill Salt showed up interest to invest approximately 70 billion to develop ST. Claire Plant.
Global Food Additives Market Key Benefits:
- The report provides information regarding key drivers, restraints and opportunities with impact analysis.
- Quantitative and Qualitative analysis of the current market.
- Estimations for the forecast period 2027.
- Historical data and forecast data.
- Recent developments and trends in the market.
- Market share of the market players, company profiles, SWOT analysis, and competitive landscape.
- Covid-19 Impact analysis
Global Food AdditivesMarket Segmentation:
Based on Source
- Natural
- Synthetic
Based on Product:
- Sweeteners
- Hydrocolloids
- Preservatives
- Enzymes
- Emulsifiers
- Flavors and Enhancers
Based on Application:
- Dairy and Frozen Products
- Beverages
- Snacks
- Bakery and confectionery
- Spices, Condiments
- Others
Based on Region:
Asia-Pacific
- Japan
- China
- India
- Australia
- New Zealand
- Rest of Asia-Pacific
North America
- US
- Canada
- Mexico
Europe
- Germany
- France
- Italy
- Spain
- UK
- Rest of Europe
Rest of the World
Each of the market segments has been analyzed in detail for market trends, recent trends and developments, drivers, restraints, opportunities, and competitive analysis.
Research Scope:
|
Report Scope |
Details |
|
Base Year |
2023 |
|
Historical Years |
2019 to 2022 |
|
Forecast Years |
2023 to 2033 |
|
Market Size 2023 |
110 BN |
|
Market Revenue 2033 |
178.82 BN |
|
Growth Rate 2023- 2033 |
6.80% |
|
Report Coverage |
Trends, SWOT Analysis, Competitive Landscape, DROs, Revenue Forecast, PEST Analysis. |
|
Segments Covered |
Source, Product, Application, Region |
|
Companies Mentioned |
, Kalsec Inc., Tate & Lyle PLC, Cargill, Inc., BASF SE, Evonik Industries Inc., Givaudan, Biospringer, Lonza, Corbion, Ingredion Incorporated, Novozymes A/S |
|
Customization |
Yes |
Regional Analysis:
North America is dominating the other regionsdue to the increasing demand for processed food includingready-to-eat and breakfast products, this is due to their busy lifestyle and increasing population. The hectic lifestyle of the people will drive the market in this region.
Europe is the 2nd largest in market share due to their expanding awareness of health.A health-conscious population also contributes to the rising demand in consumption of bakery products and beverages. Furthermore, Germany held the largest market share and the UK was the fastest-growing market in this region.
Asia Pacific is expected to grow faster with the highest CAGR by 2023 to 2032 due to its healthy lifestyle and nutrition. Also, the largest market share is held by China in the food additives market.
Key questions answered by this report.
- Top market players contributing to the revenue?
- Trending strategies by the players?
- Which region will be the leading one in the forecast period?
- Factors that drive the Global Food Additives Market?
- Which factors will affect the Global Food Additives Market?
- How Covid-19 pandemic impact the growth of the Global Food Additives Market?
- Which Segment accounted for the Global Food Additives Market shares?
Frequently Asked Questions (FAQ) :
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The Global Food Additives Market was valued at USD 110.00 Billion in 2023 and is estimated to reach USD 178.82 Billion by 2033, growing at a CAGR of 6.8% from 2023 to 2033.
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