Food additives are ingredients that are included within food to enhance its specific characteristics like consistency, aroma, color texture, taste, shelf life, and so on. The growth of the global food additives market is primarily fueled by the wide-ranging usage of additives within food & beverage industry for diverse functioning, like flavor enhancer, colorant, preservative, sweetener, emulsifier, and others. In addition, the increasing need for packaged and convenience foods wherein additives are utilized in a greater amount is expected to propel the market growth during the coming years. Also, the need for natural beverages and food items is seeing rise around the world, which further boosts the need for natural food additives. Nevertheless, strict government norms are projected to hamper the global growth to some extent during the years to come.
The global food additives market can be segregated on the basis of product type, technology, application, and region. The market, based on product type, is divided into antioxidants, flavors & enhancers, emulsifiers, anticaking agents, fat replacers(bulking agents), sweeteners, acids, humectants, stabilizers, shelf- life stabilizers(preservatives), colorants, and others(color retention agents, glazing agents, antifoaming agents, and so on). Based on product type, the market is diversified into chemical based and nature based. The market, on the basis of application, is categorized into hotels, beverages, confectionary, snacks, homes, dairy & frozen products, bakery, poultry & seafood products, meat, and others.
Geographically, in 2018, the highest share in the global the food additives market was held by North America. The rising preference for processed food products among the customers is projected to surge the need for hydrocolloids and preservatives among the producers. In addition, the need for natural food additives is also boosting at a swift rate among the food & beverage companies due to the elevated need for naturally derived drinks and food items. Further, Asia Pacific region is anticipated to witness substantial expansion during the forecast period. This regional expansion can be credited to the growing intake of ready-to-eat food products, rising per capita disposable income among people, and a huge population base.
The key players actively participating within the global food additives market consist of Cargil, BASF, Archer Daniels Midland Company, DuPont, Ajinomoto, and Adani Wilmer, among others. Several strategies such as M&As, partnership, agreements, collaborations, product launches, and others are been implemented by market players to reinforce their market hold. To cite, in 2014, the Halal Certification company was acquired by Nippon Shokubai. This acquisition assisted Nippon Shokubai to include organic acids within their product portfolio.