Global Food Additives Market is estimated to be valued at US$ 61,443.4 Million in 2021, according to the Food Additives Market Report, by Product Type (Acidity Regulators, Colorants, Emulsifiers, Enzymes, Hydrocolloids, Flavoring Agents, Preservatives, Sweeteners), by Source (Natural, Synthetic), by Application (Bakery & Confectionery, Dairy & Frozen Desserts, Snacks & Convenience Food (Processed & Frozen), Beverages, Meat & Poultry Products, Others (Sauces, soups, and baby food)), and by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa), published by Coherent Market Insights.
Global food additives market was valued at US$ 61,453.4 Million in 2021. Food additives market is expected to register a CAGR of 5.7% over the forecast period (2022–2030). 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 the food product. They can be naturally derived or prepared synthetically.
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Browse 50 market data tables* and 40 figures* on "Global Food Additives Market” - Forecast to 2030.
Key Trends and Analysis of the Global Food Additives Market:
- On the basis of product type, Flavor & Enhancers segment dominated the global foods additives market in 2021, accounting for 28.2% share in terms of value, followed by Hydrocolloids and Enzymes, respectively. Flavors and enhancers are being used in nearly all kinds of ready to eat foods & beverages. The consumers also have an inclination towards natural flavors and enhancers. To fulfill the increased demand of different types of food & beverages, the manufacturers are focusing on increasing use of enzymes to extract flavor compounds from natural sources.
Key Takeaways of the Global Food Additives Market:
- On the basis of Source, Synthetic segment dominated the global food additives market in 2021, accounting for 53.4% share in terms of value, followed by natural. Synthetic food additives can be easily made in manufacturing plants and can be used over a longer period of time.
- Asia Pacific is expected to witness significant market share during the forecast period in the global food additives market, owing to increasing demand for convenience food, growing awareness regarding natural food products, product innovations by market players and their strategic partnerships with other companies. The major countries contributing towards the market growth are China and India due to their high population and presence of large number of food manufacturers. According to the U.S. Department of Agriculture, in 2020, China's food and beverage production grew 6.3% over the year 2020. Also, according to the India Brand Equity Foundation, India’s food processing output is projected to reach US$ 535 Million by 2025-26.
- New product launches, merger & acquisitions, strategic partnership expansion, and research & development activities for the food additives plants are key strategies adopted by players in the global food additives market. For instance, in April 2021, Conagen Inc., a biotechnology company involved in bio-production of ingredients for pharmaceutical, food and renewable materials industries, launched a p-Coumaric Acid (PCA), which is a natural and clean-label preservative. It has an extended shelf life and does not contain artificial ingredients. It is launched as an alternative to synthetic PCA preservatives.
