Published Date : 20 Dec 2022
The global food additive market size was evaluated at USD 107.29 billion in 2022 and is expected to attain around USD 167.2 billion by 2030, expanding growth at a CAGR of 5.7% over the forecast period 2022 to 2030.
On the basis of the product, the sweetness market segment is expected to grow well during the forecast period. This segment accounted for about 55% of the market share in the past. Growing awareness regarding healthy options and the increased cases of cardiovascular diseases and obesity in consumers will affect the market. Major manufacturers of focusing on reducing the use of sugars in their beverages and food products. In order when hence the food quality manufacturers are coming up with different enzymes that will be helpful in doing so.
On the basis of the source, the natural segment will dominate the market. Health-conscious consumers are driving the market growth. The cost of the production of natural additives is more as compared to that of synthetic additives.
On the basis of application, the use of food additives is more in the confectionery and bakery segment. It had a market share of about 30% in the past period increased use of dietary fibers and sweeteners in this industry will drive the market growth period enhanced enzymes and demulsifiers or extremely beneficial in increasing the shelf life of the products.
Food Additive Market Report Scope
|Market Size In 2022||USD 107.29 Billion|
|Market Size By 2030||USD 167.2 Billion|
|Growth Rate from 2022 to 2030||CAGR of 5.7%|
|Forecast Period||2022 to 2030|
|Segments Covered||By Product, By Source and By Application|
|Regions Covered||North America, Europe, Asia-Pacific, Latin America and Middle East & Africa|
Asia Pacific region will dominate the market in terms of revenue. This region is expected to grow well during the forecast period. As many nations in the Asia Pacific region are highly populated the market is expected to grow well during the forecast period. An increase in the consumption of fast food across many countries like China, India and Japan will drive the market growth during the forecast period. There has also been an increase in the consumption of baked foods. Growing preference for fried fruit will also drive the market for food additives.
The food and beverage industry in the Asia Pacific region is growing rapidly due to the increase in the population of various countries. Increased population will have a positive impact on the demand for food additives in the Asia Pacific region. Due to a growing trend of replacing meals with snacks in many major countries of the North American region the market for global additives is expected to grow during the forecast period. Dual-income households and increased purchasing power has increased the demand for ready-to-cook meals and breakfast options.
There are similar conditions in the European region. Even though there is a great demand for bakery and confectionery items in the European region there is also an increase in the trend for plant-based products as the population is growing health conscious. There is a great demand for no-calorie food products and drinks in this region. The food and beverages industry is seeking alternatives for sweet knows in order to reduce the calorie intake of the population.
Increase in the consumption of foods that are nutrient-rich and beverages that are helpful in terms of providing some nutritional value to the body the market for food additives is expected to grow during the forecast period. As that have been changes in the consumption pattern the market for global additives is expected to grow well. Growing awareness for healthy food products will play a very important role for the growth of the market.
Increased use of additives in order to prevent the multiplication of bacteria in different types of food products will be helpful in providing a longer shelf life for such products. Another function of the additives of increasing the nutritional content of the food products and enhancing the color as well as the taste. All of these factors will drive the market during the forecast period. Increase in the demand for various exotic flavors will also drive market growth. Growing demand for food additives of the natural type will be helpful in providing better opportunities for growth in the coming years
In many developed countries, there is a great demand for premium food products and premium beverages. The food additive market is expected to grow well in these regions. The presence of regulatory bodies that impart strict regulations on the food and beverages industry will hamper the growth of the market. These strict authorities will limit the growth of the market due to the restricted use of additives. Synthetic additives have increased the risk of different chronic diseases and there are many policies in place that inhibit the use of these additives.
Rapid advances in the technologies used for the production of food products and the introduction of natural additives in the market will provide better opportunities for growth during the forecast period. As that has been an increase in the adoption of the new technique of microencapsulation the market is expected to grow.
Growing demand for healthy products and the increased popularity of plant-based products will drive market growth during the forecast period. Growth in the demand for clean labels in various food products and beverages will drive market growth and provide better opportunities for growth in the future.
The major challenge in the growth of the food additives market is the growing demand for healthy labels. Consumers seeking more and more products that will be helpful in boosting their immunity due to the fear of the COVID-19 pandemic. Consumers are also seeking food products that do not contain any constituents of synthetic nature as prolonged consumption of such products may cause chronic disorders like cancer.
Growing demand for nutrient-rich food is also a challenge for the manufacturers as providing healthy food products may sometimes take away the taste of such products. In order to make the food products sugar-free and gluten-free the taste is altered. All of these factors happen to be major challenges for the growth of the market. Food manufacturing companies also need to adhere to the rules and regulations laid down by the authorities. Changes in the policies have led to the recalling of various beverages and food products.
Key Market Players
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