Food Additives Market Size Will Attain USD 170.49 Billion by 2030 Growing at 6.5% CAGR - Exclusive Report by Facts and Factors
Zion Market Research
12 min read
Zion Market Research
Massive demand for low-fat additives will open new growth avenues for the food additives market across the globe. Reportedly, low-fat additives comprise less sugar proportion and saturated levels of fats. Moreover, the increase in cases of obesity and other lifestyle-related ailments has enhanced the popularity of low-fat additives.
NEW YORK, United States, Sept. 30, 2023 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Food Additives Market Size, Share, Growth Analysis Report By Product Type (Acidity Regulators, Emulsifiers, Flavoring Agents, Sweeteners, Preservatives, Colorants, and Hydrocolloids), By Source (Natural and Synthetic), By Application (Beverages, Convenience Foods, Bakery & Confectionery, Dairy & Frozen Desserts, Sauces & Dressings, and Spices & Condiments), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2023 – 2030” in its research database.
“According to the latest research study, the global Food Additives Market size was valued at about USD 107.23 billion in 2022. The market is expected to grow at a CAGR of 6.5% and is anticipated to reach a value of USD 170.49 billion by 2030.”
The report analyses the Food Additives market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global Food Additives market.
What are Food Additives? How big is the Food Additives Industry?
Food Additives Market Overview:
The need of enhancing the texture, taste, and overall appearance of food and drinks will increase the use and popularity of food additives. The thriving food and beverages sector across the globe is the key factor that is likely to play a pivotal role in augmenting the scope of food additives business growth in the coming years.
The huge intake of packaged foods & beverages across the globe is increasing with changing food habits of the global population. This will reduce the demand & supply gap for the product in the coming years. The surging demand for food additives can be attributed to the rise in food processing activities along with the need for improving food quality & its nutritive contents.
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Global Food Additives Market: Growth Factors
Growing demand for clean-label products in the countries such as the U.S. will proliferate the size of the global food additives market in the coming years. Manufacturers of food products are focusing on the use of new technologies for enhancing their food production capacity along with providing high-quality food to their customers.
Such moves are likely to benefit the growth of the global market. Extensive promotions & advertisements of food additives on social media, print media, and television have paved the way for massive penetration of food additives in the food processing sector, thereby steering the global market trends. An increase in research activities pertaining to producing eco-friendly products will further drive the global market expansion.
Nevertheless, growing concerns about health issues for humans due to the intake of food treated with synthetic food additives can impede the global food additives industry elevation. However, the surge in the cases of obesity due to the intake of high-calorie diets has translated into huge demand for low-calorie food additives, thereby generating new growth avenues for the industry across the globe.
The global food additives market is divided into product type, source, application, and region.
The product type segment of the food additives market is sub-segmented into acidity regulators, emulsifiers, flavoring agents, sweeteners, preservatives, colorants, and hydrocolloid segments. Furthermore, the sweeteners segment, which contributed over half of the global market share in 2022, is predicted to establish its segmental dominance in the coming years.
The segmental surge in the next eight years can be credited to surging awareness about cardiac ailments and obesity among the young and elderly population. Apart from this, the escalating consumption of whey protein, stevia, starch, and aspartame will make notable contributions toward the growth of the segment.
On the basis of source, the food additives industry across the globe is divided into natural and synthetic segments. The natural segment, which held nearly 30% of the global industry share in 2022, is set to register the fastest CAGR in the upcoming years. The expansion of the segment in the analysis timeline can be owing to the massive preference for naturally derived additives as they are safe for human consumption as compared to their synthetic equivalents.
In terms of application, the food additives market across the globe is segmented into beverages, convenience foods, bakery & confectionery, dairy & frozen desserts, sauces & dressings, and spices & condiments segments. Moreover, the bakery & confectionery segment, which dominated the segmental growth in 2022, is anticipated to record the fastest CAGR in the forthcoming years. The segmental growth over the forecast timeline can be due to growing product penetration in the bakery & confectionery segment owing to the product's ability to retain the freshness & vitality as well as nutritive value of the bakery items.
The global Food Additives market is segmented as follows:
By Product Type
Acidity Regulators
Emulsifiers
Flavoring Agents
Sweeteners
Preservatives
Colorants
Hydrocolloids
By Source
Natural
Synthetic
By Application
Beverages
Convenience Foods
Bakery & Confectionery
Dairy & Frozen Desserts
Sauces & Dressings
Spices & Condiments
Browse the full “Food Additives Market Size, Share, Growth Analysis Report By Product Type (Acidity Regulators, Emulsifiers, Flavoring Agents, Sweeteners, Preservatives, Colorants, and Hydrocolloids), By Source (Natural and Synthetic), By Application (Beverages, Convenience Foods, Bakery & Confectionery, Dairy & Frozen Desserts, Sauces & Dressings, and Spices & Condiments), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2023 – 2030” Report at https://www.fnfresearch.com/food-additives-market
Competitive Landscape
Some of the main competitors dominating the global Food Additives market include –
Tate & Lyle Plc
ADM
International Flavors & Fragrances Inc.
DuPont
Chr. Hansen Holding A/S
Corbion
Novozymes A/S
DSM
Cargill
Incorporated
BASF SE
Fooding Group Limited
Givaudan
Ingredion Incorporated
Biospringer
Palsgaard
Lonza AG
Sensient Technologies Corporation
Kerry
Ajinomoto Co. Inc.
The Kraft Heinz Company
Key Insights from Primary Research
As per the analysis, the Food Additives market share is likely to grow above a CAGR of around 6.5% between 2023 and 2030.
The Food Additives market size was worth around USD 107.23 billion in 2022 and is estimated to hit approximately USD 170.49 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
The global food additives market is anticipated to record massive growth over the forecast period owing to the large-scale use of food additives in food products for improving the sweetness, taste, and flavor of food.
Based on the product type, the sweeteners segment is predicted to contribute majorly towards the global market share over the forecast timeline.
In terms of source, the synthetic segment is projected to account for a major share of the global market in 2023-2030.
On the basis of application, the bakery & confectionery segment is set to register the fastest CAGR over the period from 2023 to 2030.
Region-wise, the European food additives market is projected to register the highest CAGR during the assessment period.
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Regional Analysis:
Furthermore, Europe, which contributed nearly two-thirds of the overall share of the food additives market in 2022, is predicted to record the highest gains in the upcoming years. The regional market surge in the next few years can be subject to a rise in the consumption of drinks and intake of bakery-based products such as pastries & bread. The surge in the intake of low-calorie beverages in countries such as the UK will further embellish the regional market trends.
By Region
North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
Southeast Asia
Rest of Southeast Asia
The Middle East & Africa
GCC
South Africa
Rest of the Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
Recent Industry Developments:
In the third quarter of 2020, Cargill Incorporated, a U.S.-based food corporation, launched a sweetener referred to as C TruSweet 01795 for players in the food & beverages sector. For the record, the new product comprises nearly 95.1% of fructose syrup that can enable calorie reduction in food & beverages. The initiative will build a robust foundation for the food additives market.
In the first half of 2022, Ajinomoto Co., Inc., a Japan-based food & biotech company, made investments in SuperMeat, an Israeli startup firm trying to develop chicken cultured meat products. The move is aimed at creating an effective food system with the help of cellular farming technology in the biomedical domain. The initiative will shape the food additives market growth in Asia and across the globe.
In the second half of 2022, Archer Daniels Midland Company, a food processing firm, and ScaleUp Bio, a cDMO services firm based in Singapore, joined hands for launching a new initiative referred to as Temasek, a sustainable food platform in Asia, with an aim of enlarging the scope of growth of sustainable foods business in Asia. The move will benefit fermentation process of food products in Asia.
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