Albany, New York, Nov. 08, 2017 (GLOBE NEWSWIRE) -- The global food additives market is fragmented with large number of players such as Archer Daniels Midland Company (U.S.), E.I. DuPont (U.S.), Cargill, Incorporated (U.S.), Kerry Group Plc (Ireland), CHR. Hansen Holding A/S (Denmark), and BASF SE (Germany). Players are increasingly focusing on developing food additives which suit the demand of food and beverage manufacturers who require very specific characteristics in their product. Players are also focusing on collaborating and acquiring other companies so as to expand their product portfolio and carry out joint ventures for the research and introduction of new products, states a new research report on food additives market by Transparency Market Research (TMR).
According to Transparency Market Research, the global food additives market will rise to US$39.8 bn by 2021. On the basis of product, the global food additives market is estimated to be led by the flavor enhancer segment. The fat replacers segment is predicted to take up the second position in the food additives market. By source, the market is estimated to be led by the artificial food additives segment. However, it is the natural food additive segment which will witness fastest growth in the period from 2015 to 2021, stated a TMR analyst.
Asia Pacific to Outnumber Europe and Emerge Most Lucrative Regional Segment
On the basis of geography, the market was led by Europe in the past with Asia Pacific in the second position. However in the years to come it is expected that Asia Pacific will overtake Europe in terms of leading regional segment and continue to do so throughout the forecast period. The growing population in Asia Pacific and high demand for food and beverage by this population will create a heightened demand for food additives. Busy lifestyle and the growing trend of working women will fuel the sales of convenience foods which in turn will propel the growth of the food additives market. The processed foods sector in countries such as India will also drive the demand for food additives market in the region.
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Europe will continue to account for high contribution to the revenue of the food additives market as the demand for novel flavors and taste will continue to drive the processed food sector in the region. Europe is anticipated to witness a burgeoning demand for natural food additives on account of the growing incidences of diabetes and obesity and increasing awareness among people about the benefits of everything natural.
Growing Demand for Functional Additives due to Increasing Health Concerns to Drive Growth
One of the key factors driving the growth of the food additives market is the increasing demand for functional food additives on account of the rising health concerns among consumers across the globe. There are several growth opportunities for synthetic additives in developing nations despite natural additives becoming increasingly popular among other nations due to the trend of using and consuming everything natural.
Need To Increase Shelf Life to Drive Demand from Food and Beverage Manufacturers
Food and beverage manufacturers are increasingly incorporating additives such as emulsifiers, enhancers, and enzymes to increase the shelf life and maintain emulsification and freezing characteristics of their product offerings. This is boosting the demand for food additives. Food additives are also added in various food products to enhance their taste, appearance, and for preserving the flavor. Food additives such as vinegar, sulphur dioxide, and salt are being used at homes, driving the growth of the global food additives market.
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This review is based on Transparency Market Research’s report, titled “Food Additives Market By Type (Flavors and Enhancers, Sweeteners, Enzymes, Colorants, Emulsifiers, Food Preservatives, Fat Replacers) and By Source (Natural and Artificial) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 – 2021.”
The market has been segmented as follows:
Global Food Additives Market by Product Type:
- Flavors and Enhancers
- Sweeteners
- Enzymes
- Colorants
- Emulsifiers
- Food Preservatives
- Fat Replacers
Global Food Additives Market by Source:
- Natural
- Artificial
Global Food Additives Market by Geography/ Country
- North America
- U.S.
- Canada
- Others
- Europe
- Germany
- U.K.
- France
- Others
- Asia Pacific
- China
- India
- Japan
- Others
- RoW
- Middle East
- Latin America
- Africa
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