Global Food Additives Market: Snapshot
Food additives market share is moderately consolidated and highly competitive with significant industry members incorporate Cargil, BASF, DuPont, Adani Wilmer, Archer Daniels Midland Company, and Ajinomoto which take into account of local and global market, both. Manufacturing firms are focusing on growing business across all the regions and creating systems to survey production capacity and fortify global presence. Organizations are even indulging into acquisitions and partnerships with regional and local organizations to have new scopes, and further quicken food additives market demand.
Transparency Market Research report prognosticates that in 2014, the global food additives market was value around worth of US$31.4 bn and is expected to achieve around worth US$39.8 bn by the end of 2021, expanding at a steady CAGR of 3.40% within the forecast period from 2015 to 2021.
Flavors and enhancers are imagined to be a profoundly encouraging item compose anchoring a noteworthy piece of the income share, i.e. US$12.92 bn, by 2021. The market development for flavors and enhancers could be moved as a rising number of purchasers are appealed by the distinctive sorts of taste in various cooking styles. The worldwide food additives market could observer a wild rivalry among Europe and Asia Pacific as both the locales grab hold of a closer offer. Despite the fact that Europe held a lion's offer in the ongoing past, this pattern is required to see a change as Asia Pacific makes a decent rebound in 2021.
Rising Usage of Processed for to Surge Demand
Food additives are substances that are added to food to enhance its specific attributes, for example, fragrance, consistency, taste, shading surface, time span of usability, and so on. There are two fundamental kinds of food additives accessible in the market, immediate and roundabout food additives.
The global food additives market is forecasted to hold an immediate connection with the food and beverages sector as a striking end user in the coming years. With no genuine choices accessible for food additives, the development in the food and drinks industry could decidedly impact that of the world market. Since there large number of organizations adding to the food business and wide range of items accessible, the global food additives market is anticipated to grandstand a fragmented nature. Wellbeing concerns, for example, obesity among youngsters and even grown-ups are likely to help demand useful food additives in the market. The interest for normal food additives is foreseen to grow at a notable degree as shoppers move toward becoming wellbeing cognizant and aware about the hurtful impacts of manufactured food hues.
Strict Regulation With Normal Additives to Help Market Growth
The issues experienced when working with normal additives and strict rules detailed for the utilization of food additives are anticipated to smother the market development. Nevertheless, players could even profit by items that have a less demand in the global food additives market. For example, the development of engineered additives is still anticipated to win in developing nations, for example, Malaysia, China, and India, attributable to the lifting interest for prepared food and drinks.
Companies in the food and beverages industry is constantly looking for ways to improve the longevity of their products without compromising on their flavors or appearance. This is where food additives come into play in an increasingly competitive global food and beverages industry. Food additives can either be natural or synthetic, with the demand for the former witnessing a steady increase over the last few years.
For the purpose of this study, the report segments the global food additives market on the basis of the following criteria: Product type, source, and geography. Each of these segments is studied in detail, creating a vivid picture of the current dynamics that prevail in the global food additives market. The report takes into consideration the drivers, restraints, and opportunities (DROs) that are at play in the global food additives market and will influence its growth trajectory over the next few years.
On the basis of product type, the report segments the global food additives market into: Flavors and enhancers, enzymes, sweeteners, emulsifiers, colorants, fat replacers, and food preservatives. Likewise, on the basis of source, the report segments the market into Europe, North America, Asia Pacific, and Rest of the World.
Overview of Global Food Additives Market
The growing trend of obesity in mature markets is perhaps the greatest opportunity for companies in the global food additives market. With more and more people suffering from overweight and obesity, there is a definite demand for naturally-sourced food additives. Low-calorie additives will be among the most sought-after characteristic in nearly every type of food and beverage product. However, even as they plan their growth strategies, companies in the global food additives market will have to contend with challenges such as inflation, a strict regulatory control on the quality of food products, and the need to constantly cater to changing health-related fads. Food additives, being chemically formulated for the most part, come under the regulation of government directives. Hence, companies find themselves faced with the need to comply with different directives in different national markets.
Although natural additives will become more popular over the foreseeable future, they are currently perceived as premium products. Moreover, they cost nearly ten times more than synthetic food additives. This factor will, for now, keep the latter in the leading position in the global market (especially in India, Malaysia, and China). Flavor enhancers were the most widely used type of food additives in 2014, and will continue to stay at the top through the report’s forecast period. Fat replacers trail flavor enhancers, and their status quo will likely remain unchallenged, too.
From the global perspective, the report notes that Europe stood as the largest market for food additives. However, the Asia Pacific food additives market is growing robustly and will report a high growth rate over the next few years. Asia Pacific will thus create a high demand for food additives in the coming years – an opportunity that companies in this space cannot afford to ignore.
Companies Profiled in the Global Food Additives Market
Currently, the global food additives market is composed of both small and large companies, each trying to strengthen their hold over the market with unique products in specific markets. Some of the leading companies in the market are: Cargill (the second-largest company in the market), BASF SE (boasts a diversified raw material portfolio), Associated British Foods (holds second place globally in sugar production), and Ajinomoto (globally leading company for MSG and aspartame).
Global Food Additives Market by Product Type:
- Flavors and Enhancers
- Food Preservatives
- Fat Replacers
Global Food Additives Market by Source:
Global Food Additives Market by Geography/ Country
- North America
- Asia Pacific
- Middle East
- Latin America
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments