The Global Food Additives Market was valued at US$ 45.05 billion in 2016, according to a new report published by Coherent Market Insights. Food additives are substance added in food that help enhance its taste, quality, appearance, and also preserve the food from bacterial effects. Food additives are broadly categorized as acidulents, acidity regulators, antioxidants, antifoaming & foaming agents, emulsifiers, flavor enhancers, color retention agents, stabilizers, and sweeteners. Increasing disposable income and growing demand for convenience food across the globe, is expected to fuel growth of the market for food additives. Moreover, burgeoning population growth and rampant economic growth, especially in emerging economies such as India and China in Asia Pacific is expected to fuel growth in demand for convenience food and in turn drive growth of the food additives market. Food additives not only help enhance the various properties of food but also extend its shelf life.
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The flavors and enhancers segment accounted for the largest share in food additives market, which was valued at US$ 13.33 billion in 2016, followed by fat replacers. Increasing demand for low fats and calories food is propelling demand for antioxidants and fat replacers, as fat replacers maintain a reduced fat dietary regimen, without affecting the taste of the food. Furthermore, high prevalence of diabetes is propelling demand for sugar-free food products, which in turn is driving market growth. According to the United Nation (UN), the global population is projected to reach 9.7 billion by 2025, which would significantly increase demand for food and subsequently fuel growth of the global food additives market. Flavor plays an especially important role in increasing the appeal of sugar-free food products and thus, growing demand for such product would augment growth of the global food additives market. Preservatives are majorly used for avoiding food spoilage due to microbial degradation in applications such as bakery, dairy, meat, vegetables, and fruits.
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