Global Functional Additives Market 2024-2028

Global Functional Additives Market 2024-2028

The functional additives market is forecasted to grow by USD 1,298.84 mn during 2023-2028, accelerating at a CAGR of 5.49% during the forecast period. The report on the functional additives market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by rising online and internet sales of functional additives, growing demand for functional additives from the pharmaceutical industry, and growing demand for functional additives from the packaging industry.

Technavio's functional additives market is segmented as below:

By Application

• Foods and beverages
• Pharmaceutical and healthcare
• Personal care and cosmetics
• Others

By Type

• Oxygen scavengers
• UV stabilizers
• Antistatic agents
• Antimicrobial additives
• Others

By Geography

• APAC
• North America
• Europe
• South America
• Middle East and Africa

This study identifies the growing demand for reverse logistics in packaging as one of the prime reasons driving the functional additives market growth during the next few years. Also, increase in R and D activities and growing demand for bio-based functional additives will lead to sizable demand in the market.

The report on the functional additives market covers the following areas:

• Functional additives market sizing
• Functional additives market forecast
• Functional additives market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading functional additives market vendors that include ADEKA Corp., Akzo Nobel NV, Altana AG, Amcor Plc, Arkema Group, Avient Corp., BASF SE, Clariant International Ltd., Dow Chemical Co., DuPont de Nemours Inc., Dynea AS, Evonik Industries AG, Lanxess AG, Milliken and Co., RPM International Inc., Sabo Spa, SI Group Inc., Solvay SA, Songwon Industrial Co. Ltd., and The Sherwin Williams Co.. Also, the functional additives market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.