India Food Additives Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

India Food Additives Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

India Food Additives Market is anticipated to grow at a CAGR 6.5% during the forecast period(2020-2025).

Key Highlights

• The food additives market in India is primarily driven by the growing food processing industry in the country.
• Increasing focus towards healthier lifestyles, rising workforce and increasing awareness about quality foods, are spurring demand for food additives in the country.
• Growing urbanization, rising disposible income, increased preference for diverse culinary styles have also contributed to the rise in demand for food additives in the country.
• Bakery and beverage segments are the major industries demanding for additives, with an increased focus on clean label ingredients.

Key Market TrendsGrowing Consumer Interest In Food Safety And Quality

Consumers’ interest in food safety and quality is growing across the country. It has been estimated that approximately 25% of all the food produced is lost after harvest due to microbial activity. Moreover, the rising number of foodborne disease outbreaks, adulteration cases, and toxicity have increasingly manifested the threat to food safety. The Centre for Disease Control and Prevention (CDCP) has reported that one in 10 people fall sick due to foodborne illness every year, and most importantly, children under the age of five years are at high risk. The FSSAI and SIAM introduced the recall process draft and code in 2011 and 2012, respectively, but there is need for stronger enforcement of safety standards and recall data. These factors will have a huge impact on food additives market in India.

Beverage Applications Held A Prominent Share

Beverage industry in India has seen a surge in the past few years. This is associated with the growing trend of convenience and the demand from the millenial population. Surging demand for tropical flavours in non-alcoholic beverages such as carbonated drinks, juices and flavoured water is also driving demand for food additives in the country. The expanding product offerings attributed by the presence of major players in the country are owing to the growth in the segment. With the growing health consciousness of the consumers players are incorporating additives with less chemical traces leading to the growth of clean label and natural ingredients.

Competitive Landscape

Food additives market is a fragmented market with the presence of various players dominated by major global players. Major players in the market are Cargill Inc., BASF SE, Archer Daniels Midland Company, Ajinomoto Co., Inc. etc. Market leaders caters a wider range of product offerings and strong distribution channel, providing a competitive advantage in the market.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Cargill, Incorporated
Kerry Inc.
Tate & Lyle
Ingredion
DSM
Corbion NV
Novozymes
DuPont

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