PUBLISHER: The Business Research Company | PRODUCT CODE: 1425479
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425479
Food Additives Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on food additives market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for food additives? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The food additives market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Food additives are substances introduced into foods to enhance their color, appearance, texture, and shelf life. They can either be synthetically produced or derived from natural sources like plants, animals, and minerals.
Among the primary categories of food additives are preservatives, bulk sweeteners, sugar substitutes, emulsifiers, anti-caking agents, enzymes, food flavors, food colorants, and acidulants. Preservatives play a vital role in preventing spoilage triggered by bacteria, molds, fungi, and yeast. These additives, sourced from both synthetic and natural origins, find applications across beverages, bakery products, confectionery items, sauces and dressings, dairy products, and various other food applications.
The food additives market research report is one of a series of new reports from The Business Research Company that provides food additives market statistics, including food additives industry global market size, regional shares, competitors with food additives market share, detailed food additives market segments, market trends, and opportunities, and any further data you may need to thrive in the food additives industry. This food additives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The food additives market size has grown strongly in recent years. It will grow from $48.14 billion in 2023 to $51.07 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. Historical growth can be attributed to the rising consumer demand for convenience foods, stringent government regulations and safety standards, the acceleration of urbanization, the influence of health and wellness trends, and consumer preferences for enhanced texture and taste in food choices.
The food additives market size is expected to see strong growth in the next few years. It will grow to $64.81 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The anticipated growth in the forecast period is driven by the increasing demand for clean-label and natural additives, concerns regarding health and obesity management, a heightened focus on food safety, the continuous growth of the global population, and advancements in biotechnology. Major trends expected during this period encompass the rising demand for ethnic flavors, the impact of regenerative agriculture practices, a focus on functional beverages catering to specific health needs, the trend towards personalized nutrition solutions, and an emphasis on transparency and traceability within the food industry.
Increased consumption of ready-to-eat food is anticipated to be a driving force behind the expansion of the food additives market. These foods, already prepared and requiring no additional cooking or cleaning, often rely on various preservatives, both natural and artificial to extend shelf life and maintain quality. Surveys indicate a substantial percentage of individuals, especially men and young consumers, regularly consume ready-to-eat lunch boxes, emphasizing the growing trend towards these convenient food options.
The surge in demand for confectionery products is also poised to fuel the food additives market. Confectionery items, known for their sugar content and carbohydrates, significantly benefit from food additives that enhance taste, texture, and overall sensory appeal. Sales data from the confectionery industry reveals a notable increase in total sales and chocolate sales in particular, underlining the pivotal role of food additives in meeting the rising demand for these products.
Innovation stands as a pivotal trend shaping the food additives market, with major companies focusing on product development to fortify their market position. Notable launches, such as Lifeasible's introduction of nine new sweetener products, demonstrate efforts to support healthier food options and cater to diverse consumer preferences. The range includes various sweeteners and sugar substitutes, catering to the evolving demand for healthier alternatives in processed foods and beverages.
Moreover, companies are driving innovation by introducing advanced products like label-friendly antimicrobial systems. DuPont's NovaGARD NR 100-G exemplifies this, offering a natural antimicrobial solution for processed meat manufacturers. This label-friendly system, combining rosemary extract and nisin A, demonstrates efficacy against bacteria, enhancing meat product safety and quality while allowing producers to opt for natural preservatives, signaling a shift toward cleaner labels in the food industry.
In June 2021, Kerry Group, an Ireland-based public food company, finalized the acquisition of Niacet Corporation for an estimated $1 billion. This strategic move aligns with Kerry Group's clean label emphasis by diversifying its product portfolio to encompass conventional organic acids, vinegar-based preservation technologies, and advanced drying and granulation processes. The acquisition is anticipated to bolster Kerry Group's prominent position in the food additives market while complementing its commitment to clean label solutions. Niacet Corporation, headquartered in the US, specializes in manufacturing food additives and preservatives. Through this acquisition, Kerry Group aims to leverage Niacet Corporation's expertise and innovative technologies to fortify its offerings, enhancing its capabilities to meet the evolving demands of consumers seeking clean label products within the food industry. This strategic alignment underscores Kerry Group's commitment to innovation and its intent to further strengthen its position as a leader in the food additives sector.
Major companies operating in the food additives market report are Ajinomoto Co Inc., Archer Daniels Midland Company, Badische Anilin und Soda Fabrik, Cargill Incorporated, Chr. Hansen Holding A/S, Givuadan SA, Ingredion Incorporated, Kerry Group Plc., Tate & Lyle Plc., Novozymes A/S, Koninklijke DSM N.V., E. I. Du Pont de Nemours and Company, Evonik Industries AG, Lonza Group AG, Corbion N.V., DuPont de Nemours Inc., AGRANA Beteiligungs AG, Koninklijke DSM NV, International Flavors & Fragrances Inc., Biospringer, Ingredaco, Economy Polymers & Chemicals, Pharm-RX Chemical Corporation, Covia Corporation, Palmer Holland Inc., TRInternational Inc., Eastman Chemical Company, Palsgaard, DSM NV, and Royal DSM.
Asia-Pacific was the largest region in the food additives market share in 2023. The regions covered in the food additives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the food additives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The food additives market consists of sales of food additives used in products such as baked goods, desserts, soups, sauces, and baby food to prevent microbial growth and contamination while also increasing shelf life. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.