Food Additives Market Competitors Growth Prospects And Industry Growth Rate by 2028

Food Additives Industry Overview

The global food additives market size was valued at USD 98.22 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.5% from 2020 to 2028.

The requirement of improving taste, texture, mouthfeel, and overall appearance of food and beverages is expected to propel the demand for food additives. The growing food and beverages industry globally is the key factor driving the market. The consumption of packaged food products and beverages across the world is rising due to the changing dietary patterns of the population. This is expected to contribute to the surging demand for additives used during food processing to improve its quality and nutritional content.

The preference for a plant-based diet and the growing interest of consumers to pay more for clean-label products in the U.S. have surged the consumption of food and drinks infused with natural ingredients. In May 2021, Ventura Foods, LLC, a U.S.-based company, launched new plant-based and dairy-free salad dressings under Marie’s brand. The product is expected to attract vegan consumers in the U.S.

Gather more insights about the market drivers, restrains and growth of the Global Food Additives Market

Food and beverage companies are focusing on reducing the sugar, fat, and overall calorie content in their products. Regulatory approvals for such low-calorie sweeteners and fat replacers are expected to offer an opportunity to produce low-sugar and low-fat food and beverage products.

In May 2021, the Malaysia Ministry of Health officially accepted SweeGen’s zero-calorie Bestevia sweeteners, Rebaudioside D, E, and M, for use as ingredients in food and beverage products. Similarly, in June 2020, plant-based oil of Epogee, namely, Esterified Propoxy late Glycerol (EPG) fat replacer, received generally regarded as safe (GRAS) approval from the U.S. Food and Drug Administration (FDA) for use in various food applications. The prevailing trend of having low-calorie and low-sugar food and drinks among consumers is thus supporting the market growth.

Manufacturers are adopting new technologies to improve their production processes and offer high-quality ingredients. For instance, in June 2021, Firmenich SA launched Firgood Ingredients that are pure and made from 100% natural extracts. Extracts are obtained using the company’s patented water-based extraction technology without the use of toxic chemicals.

Browse through Grand View Research's Category Food Additives & Nutricosmetics Research Reports.

• Citrus Solvents Market: The global citrus solvents market size was valued at USD 1.44 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.3% from 2022 to 2028. The market is majorly driven by the increasing demand for natural products. Also, the growing demand for skin and hair care segment is propelling the industry growth during the forecast period.

• Flavors And Fragrances Market: The global flavors and fragrances market size was valued at USD 23.35 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 4.3% from 2022 to 2030. The demand for the product is anticipated to be driven by the rising demand and consumption of processed food and personal care and cosmetics products globally.

Food Additives Market Segmentation

Grand View Research has segmented the global food additives market on the basis of product, source, application, and region:

Food Additives Product Outlook (Revenue, USD Million, 2017 - 2028)

• Flavors & Enhancers

• Sweeteners

• Enzymes

• Emulsifiers

• Shelf-life stabilizers

• Fat Replacers

• Prebiotics

• Probiotics

• Dietary Fibers

• Others

Food Additives Source Outlook (Revenue, USD Million, 2017 - 2028)

• Natural

• Synthetic

Food Additives Application Outlook (Revenue, USD Million, 2017 - 2028)

• Bakery & confectionery

• Beverages

• Convenience foods

• Dairy & frozen desserts

• Spices, condiments, sauces & dressings

• Others

Crisscross Analysis, Product by Source Outlook (Revenue, USD Million, 2017 - 2028)

• Flavors & Enhancers

• Sweeteners

• Enzymes

• Emulsifiers

• Shelf-life stabilizers

• Fat Replacers

• Prebiotics

• Probiotics

• Dietary Fibers

Crisscross Analysis, Product by Application Outlook (Revenue, USD Million, 2017 - 2028)

• Flavors & Enhancers

• Sweeteners

• Enzymes

• Emulsifiers

• Shelf-life stabilizers

• Fat Replacers

• Prebiotics

• Probiotics

• Dietary Fibers

Food Additives Regional Outlook (Revenue, USD Million, 2017 - 2028)

• North America

• Europe

• Asia Pacific

• Central & South America (CSA)

• Middle East & Africa (MEA)

Key Companies profiled:

Some prominent players in the Global Food Additives Market include

• ADM

• Chr. Hansen Holding A/S

• Ingredion Incorporated

• Novozymes A/S

• Tate & Lyle Plc

• DSM

• Ajinomoto Co., Inc.

• Cargill, Incorporated

• BASF SE

• Givaudan

• International Flavors & Fragrances, Inc.

• Biospringer

• Palsgaard

• Lonza

• Sensient Technologies Corporation

• Kerry

• Corbion

• Fooding Group Limited

• DuPont

• The Kraft Heinz Company

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タグ：Food Additives Market