The global packaged food business is predicted to develop at a CAGR of 6.6 percent from 2022 to 2032, from USD 1800 million in 2021 to USD 3410 million in 2032. In the year 2021, the global sales for food additives are expected to reach 4,350 thousand metric tonnes. The huge demand for food additives is predicted to be fueled by increased processed food consumption.
People are expected to consume extra ready-to-cook foods, meal replacement foods, and ready-to-eat food goods & beverages, which will increase the usage of food additives and their application. According to research conducted by the Food Standards Agency (FSA), around 81.0 percent of research respondents in the U.K. acknowledged consuming processed food products between April 2020 and March 2021. Food additives are usually used to enhance the appearance, flavor, and value of foods.
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Key Takeaways:
- Natural ingredients such as natural sweeteners, natural food colorings, and natural flavors are becoming more popular as customers become more health-conscious. The movement in consumer inclination from synthetic to natural food products may present a huge potential for businesses to profit from this market sector.
- The industry for natural food colors & ingredients is predicted to be worth USD 5.0 billion in 2020 and USD 6.8 billion by 2025, growing at a CAGR of 5.4 percent.
- The North American segment dominates the industry, with the U.S accounting for roughly 65 percent of the regional North American market and a total valuation of the market is estimated to be USD 444.6 million.
- Because of its large population size and potential customer base, the U.K. is a significant market for food additives. Having a market worth of USD 122.8 million, the United Kingdom has a 22 percent market share in the European region.
- From 2022 to 2032, the Food Additives Market in the Indian region is expected to grow at a CAGR (compound annual growth rate) of 6.5 percent. The growing food processing sector in India is driving the country’s food additives market.
“The food additive market has been growing at a significant rate due to various driving factors. Consumers are inclining towards food products that add value, provide necessary nutrition, flavor, taste, and texture as well as fortification with probiotics and prebiotics or vitamins and minerals that add nutritional value and health benefit for consumers who are opting for a healthy lifestyle as per recent trend,” says a lead analyst at Future Market Insights.
Competitive Landscape:
Food & beverage firms are continually inventing solutions for food products that are loaded with health and wellness-promoting products in order to tempt consumers, which is boosting the market for probiotics, prebiotics, and dietary fibers. In the year 2021, for example, Yakult Honsha Co., Ltd., a renowned Japan-based probiotic goods maker, launched a new range of ice cream with embedded probiotic bacteria.
The global sweetener industry has a significant impact on the consumer market for food additives. Furthermore, as people become more aware of the dangers of artificial sweeteners like saccharin and aspartame, sweeteners that are natural are becoming very popular. The most common natural sweeteners are mogroside V, which is derived from a fruit named monk fruit, and Steviol glycosides. In the world of natural sweeteners, Stevia is projected to be in great demand.
Segmentation for Food Additive Market
By Product Type:
- Preservatives
- Hydrocolloids
- Acidity Regulators
- Emulsifiers
- Flavoring Agents
- Food color
- Sweeteners
- Enzymes
By Source:
- Synthetic
- Natural
By Application:
- Frozen Desserts & Dairy products
- Confectionery & Bakery
- Convenience Food & Snacks (Processed & Frozen)
- Meat & Poultry Products
- Beverages
- Others (soups, baby food, and sauces)
Key Regions/Countries Covered:
- East Asia
- South Asia
- Latin and South America
- North America
- Oceania
- Europe
- Middle East & Africa
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Frequently Asked Questions
- How much is the Food Additive market currently worth?
- At what CAGR is the market expected to grow?
- What are the key trends boosting Food Additive sales?
- How are market players reacting to the new developments in the market?
- How much share do the top 3 companies hold?
- Which are the major countries driving demand for Food additives?
- Who are the major players in the Food Additive Consumer Market?
- At what rate will the U.S. Food Additive consumer market grow?
- At what level does the report reflect pricing analysis?
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About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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