The global food additive market value is expected to grow from USD 310.9 billion in 2024 to USD 551.4 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.
The market size is increasing as a result of the promotion of healthy food additives by several food and beverage firms. Leading corporations are promoting probiotics, dietary fibers, and prebiotics as healthful foods to gain market share.
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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.
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.
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.
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.
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)
For instance,
- In June 2020, the liquid version of Linablue natural blue food coloring was launched by DIC Lifetec Co., Ltd.
- In 2021, B.T. Sweets unveiled Cambya, a plant-based, one-to-one sugar replacer made from soluble fibers, monk fruit, and select botanicals.
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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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