Precision Business Insights published a research report on ” Food Additives Market: By Source (Natural, Synthetic), By Type Of Additive (Enzymes, Sweeteners, Emulsifiers, Shelf life Stabilizers, Flavors and Enhancers, Others), By Application (Bakery & Confectionary Additives, Dietary & Milk Additives, Beverage Additives, Diary & Milk Additives, Others), and Geography – Global/Region/Country Forecast to 2027″, The Food Additives Market was valued at USD 35 Billion in 2020 and is anticipated to grow at USD 53.3 Billion till 2027 recording a CAGR of 6.2% during the forecast period 2021-2027.
Glance our 200 slides market research and competitive intelligence research report, 25 Tables and 65 Figures and other qualitative sections with an in-depth TOC on ” Food Additives Market: By Source (Natural, Synthetic), By Type Of Additive (Enzymes, Sweeteners, Emulsifiers, Shelf life Stabilizers, Flavors and Enhancers, Others), By Application (Bakery & Confectionary Additives, Dietary & Milk Additives, Beverage Additives, Diary & Milk Additives, Others), and Geography – Global/Region/Country Forecast to 2027″,
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Huge Preference towards Packaged Food Items will Accelerate the Food Additives Market:
Food additives work as great substances to serve several purposes like enhancing the flavor, appearance, taste and preserve the food. A few of the food additives are being utilized from several years such as vinegar and salt. There is growing awareness among people about food additives due to the introduction of processed food. Some of the food additives hugely used, which include thickening agents, flavoring agents, food preservatives, coloring agents and stabilizers. Food additives market changes as per the preference and taste of the consumer. This market is dynamic in nature. Key players of the market are giving more focus on the bringing novel food additives to the market to expand their business and reach maximum customers. Furthermore, they also aim at collaborating in manufacturing of the products.
Growing demand for packaged food products, which require using food additives to preserve food items for a long period of time, is one of the crucial driving factors to drive the market growth. There are numerous other factors that are projected to foster the growth of the food additives market such as lifestyle changes in the developing countries, increasing inclination towards packaged food and rising population. Moreover, huge demand for food additives from food industry for the preservation of meat for long period of time is anticipated to propel the market growth. Increasing health consciousness amid people is another market driving factor. On the other hand, high cost of natural additives, increasing health related problems cause due to the synthetic food additives consumption and growing inclination towards organic food consumption can hinder the market growth over the forecast years.
Impact of COVID-19 on Food Additives Market:
In addition, the report discusses the implications of COVID-19, including the industry’s initial response and strategies for ensuring business continuity in the coming years.
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North America and Europe will record huge revenue share in food additives market during forecast period:
North America and Europe are anticipated to experience larger revenue share in upcoming years owing to increasing preference for natural additives and well-established beverages and food market. Developing economies of Asia Pacific region such as China and India are anticipated to grow at considerable rate due to the factors like growing organized retail industries provide best quality package food products and changing eating habits.
Competitive Analysis:
Major players of the food additives market are Cargill Incorporated (U.S.), BASF SE (Germany), Kerry Group Plc (Ireland), CHR. Hansen Holding A/S (Denmark), Brenntag AG (Germany), Givaudan (Switzerland), International Flavors & Fragrances, Inc. (U.S.), E.I. DuPont (U.S.) and Novozymes (Denmark)
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