Global Food Additives Market Size To Exceed USD 199.99 Billion By 2033 | CAGR of 5.76%
Category: Food & BeveragesGlobal Food Additives Market Size To Exceed USD 199.99 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Food Additives Market is Expected to Grow from USD 114.27 Billion in 2023 to USD 199.99 Billion by 2033, at a CAGR of 5.76% during the forecast period 2023-2033.
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Browse key industry insights spread across 250 pages with 130 Market data tables and figures & charts from the report on the Global Food Additives Market Size, Share, and COVID-19 Impact Analysis, By Product (Flavors & Enhancers, Sweeteners, Enzymes, Emulsifiers, Shelf-life Stabilizers, Fat Replacers, Prebiotics, Probiotics, Dietary Fibers, Others), By Application (Bakery & confectionery, Beverages, Convenience Foods, Dairy & Frozen Desserts, Spices, Condiments, Sauces & Dressings, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023-2033. Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/food-additives-market
The food additives industry is the business of manufacturing and utilizing additives placed on or in food to preserve quality, promote flavor, adjust texture, and prolong shelf life. Moreover, food additives are crucial in modern preservation technologies that improve the safety of food. With advances in hurdle technology and high-pressure processing, additives such as preservatives and stabilizers enable foods to have longer shelf life and stay quality and flavorful, responding to increased consumer demands for convenient and long-lasting foods. Food additives are crucial for food safety and quality maintenance. Additives such as antioxidants, preservatives, and antimicrobials enable the prevention of spoilage and contamination, thereby keeping food products safe for consumption over their entire shelf life. This is reinforced by increasing consumer demand for high-quality, safe food. However, other methods of preservation, including the use of probiotics or fermentation, are becoming increasingly popular. These approaches frequently don't involve traditional food additives. Therefore, manufacturers are increasingly using natural preservation methods and functional ingredients, decreasing dependency on synthetic additives and constraining the development of conventional additives.
The sweeteners segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the forecast period.
Based on the product, the food additives market is divided into flavors & enhancers, sweeteners, enzymes, emulsifiers, shelf-life stabilizers, fat replacers, prebiotics, probiotics, dietary fibers, and others. Among these, the sweeteners segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the forecast period. The growth is attributed to sweeteners commonly employed in food, drinks, bakery products, confectioneries, and low-calorie artificial products. They have an array of health benefits, such as fewer dental caries, weight control, minimal risks affiliated with obesity, and control of diabetes.
The bakery & confectionery segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on the application, the food additives market is divided into bakery & confectionery, beverages, convenience foods, dairy & frozen desserts, spices, condiments, sauces & dressings, and others. Among these, the bakery & confectionery segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. The segmental growth is due to sweeteners, flavors, fat replacers, and shelf-life stabilizers are the food additives widely utilized in bakery and confectionery items. Increased use of enzymes to improve dough stability and extend the shelf life of bakery items is expected to drive market growth.
North America is expected to hold the majority share of the global food additives market during the forecast period.
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North America is expected to hold the majority share of the global food additives market during the forecast period. North America boasts a mature and well-developed food processing sector, which makes extensive use of food additives for flavor, preservation, and texture. The consumers in the region demand high levels of ready-to-eat meals, snacks, and drinks, all of which are highly dependent on additives for shelf life, appearance, and flavor.
Asia Pacific is anticipated to grow at the fastest pace in the global food additives market during the forecast period. As greater numbers of individuals migrate to urban areas, there is a substantial increase in eating towards convenience and processed foods. APAC nations are investing heavily in food processing facilities and ingredients manufacturing. Governments (particularly China and India) give support to foreign direct investment in the food industry, stimulating innovation and growth of the additives market.
Major vendors in the global food additives market are 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, Others
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Key Market Development
- In October 2023, ADM declared the investment in Guadalajara Production Line. The company has invested USD 33 million with the aim to enhance its foothold in Human Nutrition and Animal Care segment.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the food additives market based on the below-mentioned segments:
Global Food Additives Market, By Product
- Flavors & Enhancers
- Sweeteners
- Enzymes
- Emulsifiers
- Shelf-life Stabilizers
- Fat Replacers
- Prebiotics
- Probiotics
- Dietary Fibers
- Others
Global Food Additives Market, By Application
- Bakery & confectionery
- Beverages
- Convenience Foods
- Dairy & Frozen Desserts
- Spices
- Condiments
- Sauces & Dressings
- Others
Global Food Additives Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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