The food and beverage additives market is estimated to reach US$ 102.68 billion by 2032, at a fantastic CAGR of 5.8%.
The food and beverage additives business is quickly expanding as people seek new, healthier, and more practical choices. Companies are increasing their R&D spending to keep up with customer demands for clean-label products, natural components, and sustainable solutions. This dynamic market provides industry participants with several opportunity to meet shifting client demands and promote further development.
Based on the type of product, the food and beverage additives market is segmented into sweeteners, flavours and flavour enhancers, preservatives, enzymes, fat replacers, colourants, emulsifiers, and others (texturizers and shelf life stabilisers). The tastes and flavour enhancers category is expected to account for the lion’s share of the market among all of these segments. This expansion was spurred by increased customer demand for more flavorful and tasty processed meals.
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Sweeteners are another sector that is expected to grow significantly as a replacement for sugar. As a result, it is predicted that over the projection period, there will be an increase in demand for sweeteners due to the growth in global demand for low-calorie products brought on by an increase in diabetes disorders. The market for fat substitutes is also predicted to contribute significantly in terms of revenue. The increased prevalence of obesity and heart disease is expected to raise demand for low-fat foods, which will lead to this expansion. The market for food emulsifiers is expected to grow the second fastest in the next years, after that of food enzymes.
The food and beverages additives market is segmented based on application, which comprises items for food and beverages. The food goods section is further divided into the following sub segments: dairy products, meat and poultry products, processed and frozen food, bakery and confectionery products, snack food products, and others (baby food items). Food products that have been processed or frozen are anticipated to hold a significant market share in each of these segments. Growing disposable income, particularly in developing countries, has increased customer preference for packaged or convenient food items, which is also anticipated to boost industry expansion.
Beverages is further sub segmented as soft drinks and fruit juices, energy/sport drinks, alcoholic beverages and bottled water. Among all these sub segments soft drinks and fruit juices is expected to account for the major market share followed by energy/sport drinks. Increasing awareness among the people for healthy diet has raised the demand for packaged soft drinks and fruit juices which is further expected to contribute to the market. Also, the demand of energy/sport drinks is rising which is expected to support a substantial growth to the food and beverages additives market.
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Food and Beverages Additives Market Drivers
Rising demand for convenience and packaged foods coupled with increasing health consciousness among the people in developed economies is expected to support the growth of food and beverages additives market during the forecast period. In emerging economies, rising disposable income and shifting of consumer preference towards enhanced food products with flavors and taste is expected to fuel the growth of food and beverages additives market during the forecast period.
Food and Beverages Additives Market: Key Players
Some of the major players operating in food and beverages additives market includes Symrise AG, Sensient Technologies Corporation, Royal DSM NV, Tate & Lyle plc, Kerry Group plc, Givaudan SA and Firmenich SA among others.
Regional analysis for Food and Beverages Additives Market includes
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- EU5
- Nordics
- Benelux
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- India
- ASEAN
- Rest of Asia Pacific
- Japan
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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