The food and beverages additives market is anticipated to reach US$ 102.68 billion by 2032, growing at an astonishing CAGR of 5.8%.
As consumers look for novel, healthier, and more convenient solutions, the food and beverages additives market is expanding significantly. The need for clean label products, natural ingredients, and sustainable solutions is growing, and firms are spending more on R&D to keep up with consumer demands. For industry players, this dynamic market has tremendous prospects to meet shifting customer expectations and fuel additional progress.
According to the type of product, the market for food and beverage additives is segmented into sections for sweeteners, flavours and flavour enhancers, preservatives, enzymes, fat replacers, colourants, emulsifiers, and others (texturizers and shelf life stabilisers). The tastes & flavour enhancers category is anticipated to take the lion’s share of the market among all of these segments. Increased consumer demand for processed foods with improved flavour and taste is what led to this expansion.
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As a substitute for sugar, sweeteners are another market area that is anticipated to increase significantly. Therefore, it is anticipated that throughout the projection period, demand for sweetener would increase due to the rise in demand for low-calorie products caused by an increase in diabetic problems around the world. In terms of revenue, the fat replacers market is also anticipated to play a significant role. This expansion is anticipated to be caused by an increase in the demand for low-fat foods as a result of rising rates of obesity and heart disease. Food enzymes are predicted to increase rapidly in the years to come, followed by the market for food emulsifiers.
On the basis of application the food and beverages additives market segmentation includes food products and beverages products. Food products segment is further sub segmented as processed and frozen food, bakery and confectionery products, snack food products, dairy products, meat and poultry products and others (baby food products). Among all these segments processed and frozen food products is expected to account for major market share. Increasing disposable income especially in developing regions has led the consumers inclination towards packaged or convenience food products which is simultaneously expected to support the growth of the market.
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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