Overview and Scope
Food additives are edible substances that are added to foods to improve their color, appearance, texture, and shelf-life. Food additives can be produced artificially or derived from natural sources such as plants, animals, and minerals.
Sizing and Forecast
The food additives market size has grown strongly in recent years. It will grow from $48.14 billion in 2023 to $51.07 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to consumer demand for convenience foods, government regulations & safety standards, increased urbanization, health and wellness trends, consumer preferences for texture & taste.
The food additives market size is expected to see strong growth in the next few years. It will grow to $64.81 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to clean-label and natural additives, health concerns & obesity management, focus on food safety, global population growth, advances in biotechnology. Major trends in the forecast period include ethnic flavor demand, regenerative agriculture impact, focus on functional beverages, personalized nutrition, transparency & traceability.
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Segmentation & Regional Insights
The food additives market covered in this report is segmented –
1) By Product: Preservatives, Bulk Sweeteners, Sugar Substitutes, Emulsifiers, Anti-Caking Agents, Enzymes, Food Flavors, Food Colorants, Acidulants
2) By Source: Synthetic, Natural
3) By Application: Beverages, Bakery, Confectionery, Sauces And Dressings, Dairy, Other Applications
Asia-Pacific was the largest region in the food additives market share in 2023. The regions covered in the food additives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Increasing consumption of ready-to-eat food is expected to propel the growth of the food additives market going forward. Food that is in a form that may be eaten without cleaning, cooking, or additional preparation on the part of the eatery or the consumer is referred to as ready-to-eat food. Ready-to-eat foods use a variety of natural and artificial preservatives to reduce the likelihood of spoilage due to microbial reactions and to improve food quality. For instance, in August 2023, according to a survey conducted by Itochu Corporation , a Japan-based trading company, about 45% of 9,461 respondents said that they consume bento boxes — also known as ready-to-eat (RTE) lunch boxes — sold at convenience stores. Results showed that more than 10% of people who buy bento boxes eat them more than once a week, with the ratio being high among men and young consumers. Therefore, increasing consumption of ready-to-eat food is expected to propel the growth of the food additives market going forward.
Key Industry Players
Major companies operating in the food additives market report are Ajinomoto Co Inc., Archer Daniels Midland Company, Badische Anilin und Soda Fabrik, Cargill Incorporated, Chr. Hansen Holding A/S, Givuadan SA, Ingredion Incorporated, Kerry Group Plc., Tate & Lyle Plc., Novozymes A/S, Koninklijke DSM N.V., E. I. Du Pont de Nemours and Company, Evonik Industries AG, Lonza Group AG, Corbion N.V., DuPont de Nemours Inc., AGRANA Beteiligungs AG, Koninklijke DSM NV, International Flavors & Fragrances Inc., Biospringer, Ingredaco, Economy Polymers & Chemicals, Pharm-RX Chemical Corporation, Covia Corporation, Palmer Holland Inc., TRInternational Inc., Eastman Chemical Company, Palsgaard, DSM NV, Royal DSM
The food additives market report table of contents includes:
1. Executive Summary
2. Food Additives Market Characteristics
3. Food Additives Market Trends And Strategies
4. Food Additives Market – Macro Economic Scenario
5. Global Food Additives Market Size and Growth
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26. South America Food Additives Market
27. Brazil Food Additives Market
28. Middle East Food Additives Market
29. Africa Food Additives Market
30. Food Additives Market Competitive Landscape And Company Profiles
Top Major Players:
- Ajinomoto Co Inc
- Archer Daniels Midland Company
- Badische Anilin und Soda Fabrik
- Cargill Incorporated
- Chr. Hansen Holding A/S
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