Food Additives Market by Application, Type, Region – Forecast to 2020
Added: (Wed Jul 17 2019)
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[175 Pages Report] Food Additives Market report categorizes the global market by Application (Bakery & Confectionery), Type (Colors, Emulsifiers), Source (Natural, Synthetic), & by Region
The European Commission defines food additive as "any substance not normally consumed as a food in itself and not normally used as a characteristic ingredient of food, whether or not it has nutritive value." Food additives have gained growing level of importance over the years owing to the diverse requirements of the food industry, end consumers, and regulatory bodies across the globe. 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. The market for food additives is projected to grow at a CAGR of 5.6% to reach USD 52.2 Billion by 2020.
The market for food additives has a significant impact on the development of the global food & beverage sector. Food additives are broadly categorized into acidulants, anti-caking agents, colors, emulsifiers, enzymes, flavors, hydrocolloids, preservatives, and sweeteners on the basis of type. Key countries that accounted for a large share in each region have been studied individually. The market size for the remaining countries in the respective regions has been studied collectively as a single market at the end of each of the respective segments. In 2014, North America contributed to the largest market share for food additives followed by Europe.
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Flavors: Largest market segment
The flavors segment accounted for the largest market share in 2014 followed by the sweeteners segment in the food additives market. Flavors and sweeteners have been witnessing significant growth as an important component in food products due to the different flavor demands, which vary across different regions. The consumption of sweeteners in food products has attained global importance owing to its sugar substitution ability thereby impacting the health of consumers.
Food additives market, by application:
The food additives market consists of five application categories, namely, bakery & confectionery, beverage, convenience foods, dairy & frozen desserts, sauces, dressings, spices & condiments, and others, which include meat products, extruded products, oils & fats, and others. The demand for food additives in beverages accounted for the largest share in 2014, while the sauces, dressings, spices, condiments segment is projected to be the fastest-growing from 2015 to 2020.
The rising population, growing demand for food, need for food preservation, growing concerns towards food safety due to contamination, rising health concerns, consumer demand for better quality, and increasing consumption of premium food products have been the important reasons driving the demand for food additives such as acidulants, anti-caking agents, colors, emulsifiers, enzymes, flavors, hydrocolloids, preservatives, and sweeteners. Owing to this, additives have gained global importance over the years, and are being increasingly used in existing as well as new & emerging food applications.
Companies such as E.I. DuPont (U.S.), Archer Daniels Midland Company (U.S.), Cargill, Incorporated (U.S.), CHR. Hansen Holding A/S (Denmark), Kerry Group Plc (Ireland), and BASF SE (Germany) are some of the players with a strong portfolio in this market. These companies have also been developing products that suit the demands of manufacturers who require specific characteristics in their product. Leading brands have been involved in extending the market share in developed as well as developing regions.
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