Global Food Additives Market 2024-2031

Global Food Additives Market 2024-2031

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

The global food additives market is anticipated to grow at a considerable CAGR of 6.48% during the forecast period (2024-2031).The increased use of processed, and ready-to-eat food is a key factor driving the global market. The growing food & beverage industry is a prominent contributor to the global market growth. According to the USDA, Food and beverage processing establishments (plants) employed 1.7 million workers in 2021 (about 15.4% of all U.S. manufacturing employment and just over 1.1% of all US nonfarm employment). Additionally, there are many food and beverage processing plants in the US—41,080 in 2021, according to the US Department of Commerce, Bureau of the Census's County Business Patterns.

The volatility in price of raw material along with unavailabilityof some raw materials impactthe 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. 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. In contrast, sucrose is the most used sweetener. The harmful impact of food sweeteners such as health-related problems may restrain its market growth.

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 food additive 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; thereby driving the regional market growth.

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. The significant presence of well-established food additive companies across the region is a key factor driving the growth of the regional market. The high demand for packaged and ready-to-eat food across the due region owing to fast-paced lifestyle is further contributing to the regional market growth.

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 adopting 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, especially 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.