According to the latest analysis, the global food additive market is projected to reach USD 310.9 billion by 2024. Over the forecast period, demand for food additives is expected to grow at a robust CAGR of 7.2%, driving the market valuation to an impressive USD 551.4 billion by 2034.
The beverage sector continues to be a major consumer of food additives, with this trend anticipated to persist through 2034. The growing use of both artificial and natural sweeteners across various industries is a key factor in this high consumption. The beverage segment is expected to hold a substantial 34.0% share of the market in 2024.
The Factors Increasing the Demand for Food Additives are as follows:
- Growing consumption of processed and ready-to-eat food is increasing the demand for food additives.
- Manufacturers are increasing the adoption of food additives to enhance the taste and flavor of food.
- The increasing consumption of sustainable and high-quality food is surging the demand for food additives.
- Various organizations, including the Food Administrative Organization, the World Health Organization, and the United States Department of Agriculture, are introducing high-quality and standardized food additives. The key objective of this is to increase the market for foreign trade.
- Growing technology, rising demand for healthy food, and food innovation are increasing the adoption of food additives.
- The industry is expanding due to the growing demand for items that can be stored for a long time, such as pickles, sweets, and bacon. Top companies are focusing on maintaining the color of food by increasing the adoption of micro-encapsulation techniques is advancing market growth.
- The food & beverages sector is growing its market by rapidly increasing the adoption of food additives to improve food texture, color, and taste.
- The demand for Food and Beverage Additive is rising in hotels and restaurants as a result of the food’s increased advanced nutrition, which is expanding the market opportunities. Adopting food additives for preserving food to prevent spoilage is influencing market growth.
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.
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 38.6%.
- By end-use application, the beverages segment is poised to account for a value share of 34.0% in 2024.
- Europe is expected to hold a leading market share of 21.9%, closely followed by North America at 17.8%.
- Demand in the United States is poised to rise with a CAGR of 4.2% through 2034.
- Japan is anticipated to register a CAGR of 6.0% between 2024 and 2034.
Competitive Landscape
The food additive market features a vibrant and competitive landscape, with leading manufacturers continuously innovating to introduce new solutions such as natural sweeteners, food coloring agents, carrageenans, thickening agents, and high fructose corn syrup. To maintain a competitive edge, these companies emphasize innovation, quality, and alignment with customer preferences.
Top players in the industry are also focused on securing product approvals from regulatory bodies and are leveraging strategies such as acquisitions, partnerships, collaborations, distribution agreements, and mergers to enhance their global presence.
Recent Developments in the Food Additive Market-
- In January 2021, Ingredient Solutions, Inc., a distributor and blender of specialty hydrocolloids, was acquired by Tilley Co. This development enhanced the company’s portfolio of value-added specialties and ingredients.
- In June 2020, the liquid version of Linablue natural blue food coloring was launched by DIC Corporation’s subsidiary, DIC Lifetec Co., Ltd. The new Spirulina-extracted natural food coloring is now available in no-drip bottles.
- In 2021, B.T. Sweets introduced Cambya, a plant-based, one-to-one sugar replacer made from soluble fibers, monk fruit, and select botanicals. Unlike other sugar substitutes, the company claimed that Cambya does not require any masking agents because it does not leave a bitter aftertaste.
- In September 2022, Sun Chemical introduced SUNFOODS Natural Colorants for the food & beverage industry.
- In May 2023, the National Commission of the People’s Republic of China approved six new food additives, two new food raw materials, and six food-related products.
Key Players Listed in the Food Additives Global Market Report
- 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
- Ajinomoto Food Ingredients
- Corbion Food Ingredients
- Food Ingredient Solutions, LLC
- Others (on additional request)
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Food Additive Market by Category
By Product Type:
- Dairy Ingredients
- Sweeteners
- Fibers
- Fine Ingredients
By End-use Application:
- Dairy Industry
- Confectionery
- Bakery
- Snacks
- Sauces & Soups
- Pasta & Noodles
- Meat Products
- Baby Food
- Pharmaceuticals
- Beverages
- Dietary Supplement
- Personal Care
By Region:
- North America
- Europe
- Latin America
- South Asia
- East Asia
- Oceania
- Middle East & Africa
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