Food additives are any substances used to enhance the texture and flavor of food. They are also used to improve the appearance and appeal of food products. Food additives prevent the spoilage of food products by avoiding contamination and by extending the shelf-life of food products. They can be naturally derived or prepared synthetically.
Market Dynamics
Increasing growth in the processed food industry is the underlying factor driving the global food additives market growth. According to the Food Export–Midwest and Food Export–Northeast, the retail sales in the packaged food market in China is projected to increase from US$77 billion in 2022 to US$409.5 billion by 2026. Growing per capita income around the world is creating demand for processed and other food products. According to the World Bank, GDP per capita (current US$) grew from US$ 10,936 in 2020 to US$ 12,262. This increase in income enhances purchasing power capacity of the consumers to purchase ready and instant food products.
Rising demand for functional food additives due to growing demand for food products with higher nutritional value is also expected to fuel the market growth of food additives. Consumers are gaining awareness regarding the healthy food products to prevent prevalence of chronic diseases such as diabetes, cardiovascular, blood pressure and others. According to the International Diabetes Federation, people living with diabetes has been projected to reach 783 million by 2045 from 643 million in 2030.
Growing demand for healthy & organic food products among health-conscious consumers as well as athletes is also driving the market growth of food additives. The use of organic food additives improve taste, texture, nutrition and appearance of the food products without hampering human health majorly. In April 2020, Nestlé announced that the company would focus on improving health and nutrition in its products through vegan and healthy ingredients. Therefore rising demand for natural & organic food colors and flavoring agents due to the nutritional benefits provided by them is expected to boost the market growth.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section
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* Browse 50 market data tables* and 40 figures* on “Global Food Additives Market” - forecast to 2030.
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