With Market Size Valued at $59 Billion by 2026, it`s a Healthy Outlook for the Global Food Additives Market

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Mar 28, 2022, 04:20 ET

San Francisco, March 28, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Food Additives - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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With Market Size Valued at $59 Billion by 2026, it`s a Healthy Outlook for the Global Food Additives Market

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Edition: 21; Released: February 2022
Executive Pool: 21814
Companies: 237 - Players covered include Ajinomoto Co., Inc.; Archer Daniels Midland Company; Ashland Global Holdings Inc.; Associated British Foods Plc; BASF SE; Cargill Inc.; Chr. Hansen Holding A/S; Corbion NV; DuPont de Nemours Inc.; Firmenich SA; FMC Health and Nutrition; GELITA AG; Givaudan SA; Ingredion Inc.; International Flavors & Fragrances Inc.; Jungbunzlauer Suisse AG; McCormick & Company Inc.; Novozymes A/S; Royal DSM N.V.; Sensient Technologies Corporation; Symrise AG; Takasago International Corporation; Tate & Lyle PLC and Others.
Coverage: All major geographies and key segments
Segments: Segment (Acidulants, Sweeteners, Vitamins & Minerals, Colorants, Flavors/Flavor Enhancers, Hydrocolloids, Emulsifiers, Preservatives, Enzymes, and Other Segments)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

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ABSTRACT-

Global Food Additives Market to Reach $59 Billion by 2026
Food additives are ingredients or substances that are added to foods and beverages with the aim to improve taste, texture, color and flavor of products. The use of food additives is an age-old approach to preserving and protecting foods against spoilage. While direct food additives are added to foods for specific purposes, example being salt, use of indirect food additives is aimed at improving storage, handling and packaging of food products. Food additives thus play a critical role in improving food palatability, maintaining quality, increasing shelf-life of foods, and protecting food against spoilage, all of which are integral to the commercial success of packaged and processed foods industry. Rising demand for processed, packaged and convenience foods, specifically in developing economies, constitutes a major driving factor for the global food additives market. Changing and diversifying consumer tastes and escalating demand for foods and beverages with higher nutritional value, without compromising visual appearance, are also making it essential for food companies to use food additives. With hectic lifestyles of people and growing workforce population, particularly expanding female workforce, changing consumer lifestyles and urbanization trend contributing to increased sales of packaged foods such as frozen meals, ready-to-eat meals and appetizers, food companies are increasing production capacity of such products, thus fueling demand for food additives. With food manufacturing companies looking for ways to prolong shelf-life of products without affecting the flavor or appearance, maintaining consistent quality and ensuring food safety, additives are being widely used to ensure the same during transportation to storage facilities.

Amid the COVID-19 crisis, the global market for Food Additives estimated at US$49.4 Billion in the year 2022, is projected to reach a revised size of US$59 Billion by 2026, growing at a CAGR of 4.4% over the analysis period. Acidulants, one of the segments analyzed in the report, is projected to grow at a 5% CAGR to reach US$4.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Sweeteners segment is readjusted to a revised 3.4% CAGR for the next 7-year period. This segment currently accounts for a 10.8% share of the global Food Additives market. Global market for acidulants is projected to post strong growth, driven by the rising demand from food processing industry. Rising health consciousness among consumers and increasing demand for convenience products and packaged foods is expected to expand application of acidity regulators (acidulants) in food products. Acidulants are also being used increasingly as preservative in foods and beverages, thus emerging as alternatives to cold supply chain.

The U.S. Market is Estimated at $13.1 Billion in 2022, While China is Forecast to Reach $11.7 Billion by 2026
The Food Additives market in the U.S. is estimated at US$13.1 Billion in the year 2022. The country currently accounts for a 27.02% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$11.7 Billion in the year 2026 trailing a CAGR of 7% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.5% and 3.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.1% CAGR while Rest of European market (as defined in the study) will reach US$12.6 Billion by the end of the analysis period. Developed economies represent the largest markets for food additives, due to the high demand for packaged and convenience foods and the growing awareness about healthy foods among people. Growing awareness about foodborne illnesses and rising health consciousness of consumers in North America and Europe are fueling use of food additives. On the other hand, food additives demand in emerging economies is being fueled by the increasing consumer preference for food products with enhanced taste and flavors. The United States represents the largest market for Food Additives. The well-established food processing industries and the presence of numerous large-scale food companies in the US remain a major driving force for the foods additive market. China constitutes the fastest growing market for Food Additives, driven by the rapidly growing food and beverage industry in the region. The strong economic growth, expanding middle class population and their increasing disposable incomes, rapid pace of urbanization and industrialization and the subsequent increase in demand for high-quality foods products is favoring growth in the food additives market.

Vitamins & Minerals Segment to Reach $2.7 Billion by 2026
In the global Vitamins & Minerals segment, USA, Canada, Japan, China and Europe will drive the 3.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.7 Billion will reach a projected size of US$2.2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$365.1 Million by the year 2026, while Latin America will expand at a 3.9% CAGR through the analysis period. More

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