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Global Food Additives Industry

Global Food Additives Industry

  • September 2020
  • 934 pages
  • ID: 87276
  • Format: PDF
  • Global Industry Analysts

Summary

Table of Contents

MARKET IMPACT SURVEY - COVID-19 & LOOMING RECESSION

Timely market intelligence is paramount in these uncertain times!

We launched an impact survey to update this project with timely insights during 2020. Update frequency will depend upon evolving market conditions and executive opinions. Our participants are executives driving strategy, marketing, sales and product management at competitive companies worldwide. All updates during the rest of the year are complimentary to clients!

The global Food Additives market is projected to reach US$59 billion by 2025, driven by the growing demand for fresh, flavorful food and beverages with longer shelf life and the ensuing focus on advanced processing technologies. Additives are the backbone of the processed and packaged food industry. They increase shelf-life, preserve texture and appearance, enhance flavor, and increase nutrients with fortification. Broad market forces impacting growth include growing global volume of food production; diversifying consumer tastes; and rapidly growing demand for processed packaged foods. Demand is expected to be especially strong for food additives that offer multiple benefits in food processing. Hectic lifestyles, growing participation of women in the workforce, reduced time for preparing home cooked meals are contributing towards increased sales of packaged foods such as frozen meals, ready-to-eat meals and appetizers. In the food and beverage industry, Beverages represent the largest end-user of food additives simply because beverage production consumes more additives such as emulsifiers and stabilizers as they enable mixing of ingredients such as fat and water which normally would not mix, thereby enabling development of new product formats such as Juices made of Fruit and milk. The deluge of low calorie beverages is made possible only by additives such as Stevia, Aspartame, Sucralose etc. Continued strong demand for beverages thereby expands the addressable market opportunity for food additives in beverage production which is poised to increase significantly to meet growing consumption which already stands at 1,200 billion liters in the year 2019.

Other major factors and trends influencing growth include advancements in food color extraction techniques; rising consumer emphasis on organic foods and increased adoption of natural food additives among food processors; emergence of rice proteins as an ideal alternative to soy proteins; replacement of emulsifiers in dairy and bakery products by enzymes; growing awareness over the health damage caused by petroleum-derived food additives like Tert-Butyl hydroquinone and synthetic flavor enhancers like Monosodium Glutamate (MSG) and the ensuing opening up of commercial opportunity for natural additives like Spices, Herbs, Roots, Essences and Essential Oils. The United States represents the largest market worldwide, supported by well-established food processing infrastructure and the presence of numerous large-scale food companies. China is poised to grow at the fastest CAGR of 6.5% over the analysis period. Asia-Pacific excluding China follows next with a 5.9% CAGR led by positive economic environment, expanding middle class population, growing disposable incomes, rapid urbanization, changing dietary patterns and the subsequent increase in demand for high-quality food products.

Competitors identified in this market include, among others, Ajinomoto Co. Inc. (Japan), Archer Daniels Midland Company (USA), Ashland Inc. (USA), Cargill Inc. (USA), DuPont de Nemours Inc. (USA), GELITA AG (Germany), International Flavors & Fragrances Inc. (USA), Kraft Heinz Ingredients (USA), Royal DSM N.V. (The Netherlands), Novozymes A/S (Denmark), Tate & Lyle PLC (UK), Sethness Caramel Color (USA), Jungbunzlauer Suisse AG (Switzerland), Kerry Group (Ireland).

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