Global Food Additives Market Is Expected to Reach USD 41.00 Billion by 2022

Food additives are nonnutritive substances which are intentionally added to food, generally in small quantities, to improve its appearance, flavor, texture or storage properties. Food additive provides multiple advantages such as protection against food spoilage during storage, transportation, distribution or processing. Increases in population coupled along with growing demand for food are expected to be the major drivers for the global food additives market. In addition, consumer demand for better quality food is expected to trigger the growth of food additives market in the coming years.

North America was the largest food additives market in 2016 and is expected to maintain its position in the forecast period. The market is mainly driven by the increasing demand for food additives from the U.S. in this region. North America held more than 30% market share in 2016. The market in this region is mainly driven by high demand for convenience foods, bakery & confectionery, beverage, and sauces in this region. North America is expected to witness considerable growth during the forecast period while Europe is expected to show moderate growth during the forecast period.

While, Asia Pacific is expected to be the fastest-growing region for food additives market owing to growing demand for changing consumer preference and increasing demand for healthy, natural and organic food. Asia Pacific market is mainly driven by increasing demand from India and China.

Latin America is expected to exhibit worthwhile growth in the food additives market owing to growth in the Brazilian market. Brazil is expected to be the leading food additives market in this region during the forecast period owing to its fastest pace in developing food additives industry. The Middle East and Africa is projected to show moderate growth during the forecast period.

Some of the key players operating in the food additives market include International Flavors and Fragrances, Tate & Lyle PLC., CHR. Hansen Holding A/S, Kerry Group Plc, Ajinomoto Co Inc., and BASF SE among others. Companies operating in this market particularly focus on merger and acquisition strategy in order to improve its market position.

Food Additives Market: Type

Flavors

Hydrocolloids

Acidulants

Colors

Emulsifiers

Preservatives

Sweeteners

Food Additives Market: Source

Natural

Artificial

Food Additives Market: Application

Bakery & Confectionery

Beverage

Sauces

Dressings

Spices & Condiments

Convenience Foods

Dairy & Frozen Desserts

Others