According to the latest report by IMARC Group, titled "Food Additives Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global food additives market reached a value of US$ 53.2 Billion in 2021. Food additives refer to edible substances that are often added to food products to maintain their appearance, taste, texture and freshness. They are mainly produced synthetically or derived from animals and plants that are categorized into broad categories, such as processing and sensory agents, nutritional additives and preservatives. Besides this, they are also used in the production, treatment, processing, packaging, storage or transportation of food. Due to the escalating shift toward aesthetically appealing food items and the multifunctionality of food additives, there has been a significant rise in their uptake in the preparation of numerous food items.
Global Food Additives Market Trends:
The global market is primarily driven by the growing preference for convenience food products among the masses. Coupled with the changing dietary patterns of individuals and the increasing consumption of ready-to-eat (RTE) foods due to the busy lifestyle led by working professionals, this is providing a boost to the market. Along with this, numerous leading players are heavily investing in the manufacturing of organically produced food additives on account of the escalating health consciousness among the masses, which is significantly supporting the product demand on the global level. Moreover, the proliferation of quick-service restaurants (QSRs) and emerging café culture are acting as major growth-inducing factors for the market, especially in developing nations. Apart from this, continual technological advancements in product manufacturing processes are creating a positive market outlook. Other factors, including continual developments in the food and beverage industry and extensive research and development (R&D) activities conducted by key players to introduce improved product variants, are also positively influencing the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 74.1 Billion by 2027, exhibiting a CAGR of 5.79% during 2022-2027.
- 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.
- Based on the source, the market has been classified into natural and synthetic.
- 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.
- 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.
- 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.
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