Global Food Additives Market to Reach US$ 92.7 Billion by 2032, Driven by Rising Demand for Processed Foods

August 18, 2023 | Food & Beverages

According to the latest report by IMARC Group, titled “Food Additives Market Report by Product Type (Colorants, Emulsifiers, Enzymes, Fat Replacers, Flavors and Enhancers, Shelf-life Stabilizers, Sweeteners, and Others), Source (Natural, Synthetic), Application (Bakery and Confectionery, Beverages, Convenience Foods, Dairy and Frozen Desserts, Spices, Condiments, Sauces and Dressings, and Others), and Region 2024-2032,” the global food additives market size reached US$ 59.7 Billion in 2023. Food additives are substances added to food products during processing or manufacturing to enhance their appearance, taste, texture, shelf life, or nutritional content. These additives serve a range of purposes, from preserving freshness to improving the overall sensory experience of the food. They are carefully regulated and approved by food safety authorities to ensure they are safe for human consumption. Common types of food additives include preservatives, which inhibit the growth of bacteria, mold, and yeast, thereby extending the shelf life of food products. Emulsifiers are added to prevent the separation of ingredients and stabilize mixtures, while sweeteners provide a sweet taste without the added calories of sugar. Food coloring agents enhance the visual appeal of products, and flavor enhancers intensify and improve taste. While food additives offer several advantages in food processing, concerns have been raised about their potential impact on health. Some individuals may be sensitive or allergic to certain additives, and excessive consumption of some additives has been associated with adverse health effects. As a result, regulatory agencies, such as the Food and Drug Administration (FDA) in the United States and the European Food Safety Authority (EFSA) in Europe, carefully assess and control the use of food additives to ensure they are safe and used within approved limits.

Global Food Additives Market Trends:

The rising demand for convenient and ready-to-eat (RTE) foods represents one of the key factors driving the growth of the market across the globe. This is primarily attributed to rapid urbanization and busy lifestyles becoming more prevalent which is driving the growth of the market. Processed foods often require food additives for preservation, flavor enhancement, and texture improvement, thus making them more appealing and shelf-stable. The convenience offered by processed foods is leading to a rise in the utilization of food additives. Food additives, particularly preservatives, play a critical role in extending the shelf life of food products. They help prevent spoilage, microbial growth, and oxidation, ensuring that food stays fresh and safe for consumption over extended periods. As consumers seek products with longer shelf life and improved food safety, the demand for preservatives and other stabilizers in food processing is growing. The market is also driven by the increasing demand for natural and clean label products, along with the growing emphasis on health and wellness. This trend is driving the food industry to develop food additives sourced from natural ingredients, which is contributing to the growth of the market. Natural preservatives, colors, and flavors, for instance, are being preferred over synthetic alternatives, as consumers perceive them to be healthier and more environmentally friendly. Advances in food processing technologies are creating opportunities for the development of new and innovative food additives. Other factors, such as enhanced taste and appearance and stringent food safety regulations, are creating a positive outlook for the market across the globe. Looking forward, the market value is projected to reach US$ 92.7 Billion by 2032, expanding at a CAGR of 4.9% during 2024-2032.

Market Summary:

  • On the basis of the product type, the market has been segmented into colorants (synthetic and natural food colorants), emulsifiers (mono, di-glycerides and derivatives, lecithin and sorbate esters), enzymes (carbohydrase, protease and lipase), fat replacers (protein, starch and others), flavors and enhancers (natural flavors and artificial flavors and enhancers), shelf-life stabilizers, sweeteners (HIS, HFCS and others) and others. Currently, sweeteners (HFCS) are dominating the market across the globe.
  • Based on the source, the market has been classified into natural and synthetic. Presently, natural holds the market share across the globe.
  • On the basis of the application, the market has been categorized into bakery and confectionery, beverages, convenience foods, dairy and frozen desserts, spices, condiments, sauces and dressings, and others. Currently, bakery and confectionery is dominating the market across the globe.
  • Based on the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and Others), Latin America (Brazil, Mexico, and Others), and the Middle East and Africa. Presently, Asia Pacific is dominating the market across the globe.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include Ajinomoto Co. Inc., Archer Daniels Midland, BASF SE, Cargill Incorporated, Chr. Hansen A/S, Corbion N.V., Dow Chemical Company, Eastman Chemical Company, Givaudan, Ingredion Incorporated, Kerry Group, Koninklijke DSM N.V., Novozymes A/S and Tate & Lyle.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Product Type, Source, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Ajinomoto Co. Inc., Archer Daniels Midland, BASF SE, Cargill Incorporated, Chr. Hansen A/S, Corbion N.V., Dow Chemical Company, Eastman Chemical Company, Givaudan, Ingredion Incorporated, Kerry Group, Koninklijke DSM N.V., Novozymes A/S and Tate & Lyle
Customization Scope 10% Free Customization
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Global Food Additives Market to Reach US$ 92.7 Billion by 2032, Driven by Rising Demand for Processed Foods
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