Global Food Additives Market 2023-2030

Global Food Additives Market 2023-2030

Global Food Additives Market Size, Share & Trends Analysis Report by Source(Natural, and Synthetic), by Type (Emulsifiers and Enzymes, Sweeteners, Hydrocolloids, and Others), and by Application (Food, and Beverages), Forecast Period (2024-2031)

The global food additives market is anticipated to grow at a CAGR of 6.5% during the forecast period (2024-2031). Food additives are substances that are added to the food to preserve flavor or enhance taste,improve texture, extend shelf life, and enhance appearance. These food additives are of various types made from synthetic materials or natural substances. One of the major drivers of the market for the growth of the market is the increased use of processed, and ready-to-eat food. As it is easily available to the people and also it saves some time for them too. Processed food contains various types of food additives such as natural and synthetic.

As the market has a positive side to it, it also contains a negative side to it. One of the restraints of the market is the fluctuation in the prices of the raw materials used for the making of these additives. One more restraint is the limited availability of some raw materials, which in turn increases the price of these additives which ultimately increases the price of all types of processed food.

Segmental Outlook

The global food additives market is segmented on the source, type, and application. Based on the source, the market is sub-segmented into natural, and synthetic. Based on the type, the market is sub-segmented into emulsifiers and enzymes, sweeteners, hydrocolloids, and others. Further, based on the application the market is sub-segmented into food, and beverages.

The Sweeteners Sub-Segment is Anticipated to Hold a Considerable Share of the Global Food Additives Market

Among the Types, the sweeteners sub-segment is expected to hold a considerable share of the global food additives market. Food additives are emerging as the new source of processed foods. The food additives are increasingly being used in foods to maintain their shelf life. Shelf life is the amount of time a food possesses its nutritional value and also it remains fresh. Sweeteners are used to add flavors, maintain freshness, enhance flavor, fermentation, and many more. There are various types of sweeteners used for the preservation of food, namely natural sugars, sugar alcohols, high-intensity sugars (HIS), and many more. Sucrose, a type of sweetener is used the most as it is the most affordable, natural, and easily available sweetener for use in the market. While sucrose is the most used sweetener, it also causes various health-related problems.

Regional Outlook

The global food additives market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, Asia-Pacific is anticipated to hold a prominent share of the market across the globe. The rapid urbanization of the region and the presence of the world’s most populated countries, India, and China are one of the main factors for the increase in the sweeteners market. As the rapid development of various countries in the region is ultimately resulting into the growth of rapid-paced working environment, which has enabled the increase in the rise of ready to eat food.

The North American Region is Expected to Grow at a Significant CAGR in the Global Food Additives Market

Among all regions, the North American region is anticipated to grow at a considerable CAGR over the forecast period. This prominent growth of the region is due to various factors. One of the factors is the presence of many established food additive companies in the region. One more factor is the busy lifestyle of the people in the region. As the region is a working professional region and the people in the region work in fast fast-paced environment and have almost very little time to make their food on their own, so they prefer to eat ready-made foods that contain various different types ofadditives in the food, hence increasing the growth of the food additives market.

Market Players Outlook

The major companies serving the food additives market include ADM, Chr. Hansen Holding A/S, Ingredion Inc., International Flavors & Fragrances, Tate & Lyle plc (IFF), and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in January 2024, Evonik expanded its peroxides production network with the full acquisition of Thai Peroxide Co., Ltd. The acquisition will strengthen Evonik’s hydrogen peroxide and peracetic acid specialties, specially in the asia-pacific region.

The Report Covers

Market value data analysis of 2023 and forecast to 2031.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global food additives market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.