Global food additives demand is projected to grow at a healthy CAGR of 5.75%. Food additives are chemicals which are added to food items to impart specific properties to the food product. Food additives can enhance several properties of food including shelf life, lowering contamination, appearance and appeal, and overall food safety. Food additives are of various types including acidulants, emulsifiers, colours, flavours, hydrocolloids, preservatives, and sweeteners. Due to their property enhancing capabilities, food additives find application in various types of food products including bakery and confectionary, beverages, dairy and frozen desserts, spices, condiments, sauces and dressings, and others. Growing population and food requirements coupled with changing lifestyle and preference for packaged food are expected to drive the demand of food additives for the forecast period. Moreover, increasing number of working women worldwide is also another factor propelling demand growth of packaged food, thus growing the demand of food additives.
In 2020, the spread of COVID-19 in major global economies caused nationwide lockdowns which had an impact on a number of industries. Food industry was among the least affected industries during the pandemic. In fact, during the pandemic there was a surge in the demand of packaged food This had an impact on the demand of food additives for the first half of 2020. The demand for food additives grew during the coronavirus pandemic.
Region wise, Asia pacific region holds the major share of global demand for food additives due to increasing population and food security requirements in emerging economies like India and China. Moreover, increasing preference towards packaged food coupled with growing number of food industries using food additives is another factor influencing demand growth in the Asia Pacific region.
Years considered for this report:
Historical Period: 2015-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022–2030
Objective of the Study:
•To assess the demand-supply scenario of food additives which covers production, demand and supply of food additives market globally.
•To analyse and forecast the market size of food additives .
•To classify and forecast global food additives market based on technology, end-use and regional distribution.
•To identify drivers and challenges for global food additives market.
•To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global food additives market.
•To identify and analyse the profile of leading players involved in the manufacturing of food additives.
Major players for food additives globally include BASF, DuPont, Cargil, Archer Daniels, Adani Wilmer, Midland Company, Ajinomoto, Hansen Holding A/S, Kerry Group Plc, Kerry Group, Evonik Industries AG, Tate & Lyle PLC, Novozymes A/S
To extract data for global food additives market, primary research surveys were conducted with food additives manufacturers, suppliers, distributors, wholesalers and end users. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end user segments and projected a positive outlook for Global food additives market over the coming years.
ChemAnalyst calculated food additives demand globally by analyzing the historical data and demand forecast which was carried out considering imported food additives, prices, materials used for production of food additives. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• food additives manufacturers and other stakeholders
•Organizations, forums and alliances related to food additives distribution
•Government bodies such as regulating authorities and policy makers
•Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as food additives manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
In this report, global food additives market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Market, by Application
Bakery and Confectionary, Beverages, Dairy and Frozen Desserts, Spices, Condiments, Sauces and Dressings
Market, by Type
Acidulants, Emulsifiers, Colours, Flavours, Hydrocolloids, Preservatives, and Sweeteners.
Market, by Sales Channel
Direct Company Sale, Direct Import, Distributors & Traders, Retailers
Market, by Region
North America, APAC, Europe, MEA, South America
ChemAnalyst offers detailed analysis of major players including basic company details, Segmental/product information, financial matrices, growth strategies, expansion plans, collaborations, SWOT analysis etc.to give a comprehensive and meaningful insights on the respective product market.
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