The global food additive market size value is expected to grow from USD 310.9 billion in 2024 to USD551.4 billion by 2034. Over the forecast period, global food additive demand is projected to increase at 7.2% CAGR.
Usage of food additives is expected to remain high in the beverage sector during the forecast period. As per the latest report, the target segment is anticipated to account for a market share of 34.0% in 2024.
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The global market for food additives is poised to grow rapidly through 2034. This is attributable to a combination of several factors, including:
- Increasing demand for processed foods
- Growing trend of food fortification globally
- Rising interest in natural food additives
- Evolving consumer preferences, along with the growing popularity of functional beverages
- Growing focus of food manufacturers on extending the shelf life of their products
Food additives play a vital part in the food and beverage industry. They are used for various purposes, from preserving freshness to improving color and texture.
The growing usage of food additives to improve the taste, quality, and texture of different food products is expected to boost the market. Similarly, the ability of food additives like preservatives to extend the shelf life of food products will boost their sales through 2034.
The market for food additives is influenced significantly by consumer preferences and changing lifestyles. There is a rise in demand for processed and packaged food products as consumers seek convenience and a broader range of food variety. This will likely fuel food additive demand.
Food additives make processed food products attractive and safe. They prevent spoilage, maintain nutritional content, and enhance the overall sensory experience of the food. Hence, increasing production and consumption of processed and packaged food products is set to bolster sales of food additives.
Common food additives include flavor enhancers, sweeteners, colors, and stabilizers. They play a critical role in enhancing appearance, extending shelf life, and improving processed food products’ taste, texture, and palatability.
Preservatives help extend the lifespan of goods, thereby reducing food waste. Flavor enhancers and sweeteners enhance the taste of foods and beverages, catering to evolving consumer preferences for exciting and healthier options.
The market is also witnessing a shift toward natural food additives. Growing concerns over several synthetic food additives’ safety and health effects drive this trend.
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Key Takeaways from the Food Additives Market Report:
- The global market for food additives is projected to total USD 551.4 billion in 2034.
- Based on product type, the fine ingredients segment is expected to hold a leading market share of 6%.
- By end-use application, the beverages segment is poised to account for a value share of 0% in 2024.
- Europe is expected to hold a leading market share of 9%, closely followed by North America at 17.8%.
- Demand in the United States is poised to rise with a CAGR of 2% through 2034.
- Japan is anticipated to register a CAGR of 0% between 2024 and 2034.
“The food additive industry is poised to expand rapidly, driven by growing consumer demand for diverse and convenient food options. To gain maximum profits, key players will look to develop new safe and natural food additives.” – says a lead analyst at Future Market Insights (FMI).
Who is Winning?
Chr. Hansen Holding A/S, BASF SE, Royal DSM N.V., Sensient Technologies Corporation, Dow Chemical Company, Nutra Food Ingredients, LLC, Bell Flavors & Fragrances Incorporated, and Ajinomoto Food Ingredients are the key food additive manufacturers listed in the report.
Top companies are expanding product portfolios by introducing new food additives like natural flavors and low-calorie sweeteners. They also employ strategies like advertising, partnerships, acquisitions, agreements, and mergers to gain a competitive edge in the market.
For instance,
- In June 2020, the liquid version of Linablue natural blue food coloring was launched by DIC Lifetec Co., Ltd.
- In 2021,T. Sweets unveiled Cambya, a plant-based, one-to-one sugar replacer made from soluble fibers, monk fruit, and select botanicals.
Get More Valuable Insights
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global food additive industry, presenting historical demand data (2019 to 2023) and forecast statistics for the period from 2024 to 2034.
The study incorporates compelling insights on the food additive market based on product type (dairy ingredients, sweeteners, fibers, and fine ingredients) and end-use application (dairy industry, confectionery, bakery, snacks, sauces & soups, pasta & noodles, meat products, baby food, pharmaceuticals, beverages, dietary supplement and personal care) across various regions.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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