Wood-Derived Food Additives Market: Grow at a CAGR of 4.3% by Forecast to 2023

Market Overview:

Wood-derived Food Additives are ingredients, which are primarily used to preserve flavor, taste, and other sensory food qualities. Additionally, these additives help in extending the product shelf-life. Wood-derived food additives such as fibrillated CELLULOSE, Lignin, xylan, vanillin, and CMC serves an essential role in the manufacturing of packaged and convenience food.

The global wood-derived food additives market is increasing due to increased demand from the foods and beverages industry. Growing health concerns among the global population together with the increasing awareness about the benefits of consuming food additives are the key driving factors for the growth of the wood-derived food additives market. In addition to the changing lifestyle, the growing demand for foods, beverages, confectionery, and other food products is expected to drive the global wood-derived food additives market.

Moreover, the health-conscious consumers, nowadays, precisely look for the product labels to know the exact composition of packaged foods before purchasing, which has a direct impact on the manufacturers to switch for natural food additives in the packaged foods. However, product intolerance caused due to excessive consumption of wood-derived additives used in food products may hinder the market growth over the forecast period. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 4.3% of the wood-derived food additives market during the forecast period 2017-2023.

Competitive Analysis:

The major players in the wood-derived food additives market

BASF SE (Germany)

Cargill Inc. (U.S.)

Archer-Daniels-Midland Company (U.S.)

Kerry Group Plc. (Ireland)

E. I. du Pont de Nemours and Company (U.S.)

Evonik Industries AG (Germany)

Tate & Lyle Plc. (U.K)

Kerry Group Plc. (Ireland)

CP Kelco U.S., Inc. (U.S.)

Ingredion Incorporated (U.S.)

Downstream Analysis:

The global wood-derived food additives market is segmented into type, function, and application.

On the basis of the type, it is segmented into fibrillated cellulose, lignin, xylan, vanillin, carboxymethyl cellulose, xylitol, and others. Among all, the fibrillated cellulose segment is dominating the market followed by carboxymethyl cellulose.

On the basis of the function, it is segmented into thickening agent, gelling agent, emulsifying agent, texture enhancer, sweetener, and others. Among all, the sweeteners segment holds the major market share.

On the basis of the application, it is segmented into bakery & confectionery, beverages, sweet & savory snacks, dairy & frozen desserts, and others. Among all, the bakery & confectionery segment is dominating the market.

Regional Analysis:

The global wood-derived food additives market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). The North American region is dominating the wood-derived food additives market followed by Europe. In the U.S., wood-derived food additives are used in large quantity for preservation, flavor enhancement & texture of food & beverage products. Additionally, high demand for natural food additives from the consumers is considered to be a key driving factor in this region.

Moreover, increasing consumer awareness and demand for convenience food has uplifted the demand for wood-derived food additives in the European countries like the U.K, Germany, and France, which is anticipated to boost the growth of the wood-derived food additives market during the review period.

Wood-Derived Food Additives Market: Grow at a CAGR of 4.3% by Forecast to 2023