At a phenomenal CAGR of 5.8%, the food and beverages additives market is expected to strike US$ 52.2 billion by 2020. The food and beverage additives market is being driven by the global growth of the food and beverage sector. Sales of food and beverage additives are increasing over the world owing to shifting population eating trends in packaged food and beverage consumption.
The food and beverages additives market is experiencing remarkable growth as consumers seek innovative, healthier, and more convenient options. With increasing demand for natural additives, clean label products, and sustainable solutions, manufacturers are investing in research and development to meet evolving preferences. This dynamic market promises exciting opportunities for industry players to cater to changing consumer needs, driving further expansion.
The market for food and beverage additives is broken down into sectors based on the kind of product, including those for sweeteners, flavours and flavour enhancers, preservatives, enzymes, fat replacers, colourants, emulsifiers, and others (texturizers and shelf life stabilisers). It is projected that among all of these segments, the tastes & flavour enhancers segment will account for the largest share of the pie. This growth is a result of increased customer demand for processed meals with better flavour and taste.
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As a substitute for sugar, sweeteners are another market area that is anticipated to increase significantly. Therefore, it is anticipated that throughout the projection period, demand for sweetener would increase due to the rise in demand for low-calorie products caused by an increase in diabetic problems around the world. In terms of revenue, the fat replacers market is also anticipated to play a significant role. This expansion is anticipated to be caused by an increase in the demand for low-fat foods as a result of rising rates of obesity and heart disease. Food enzymes are predicted to increase rapidly in the years to come, followed by the market for food emulsifiers.
On the basis of application the food and beverages additives market segmentation includes food products and beverages products. Food products segment is further sub segmented as processed and frozen food, bakery and confectionery products, snack food products, dairy products, meat and poultry products and others (baby food products). Among all these segments processed and frozen food products is expected to account for major market share. Increasing disposable income especially in developing regions has led the consumers inclination towards packaged or convenience food products which is simultaneously expected to support the growth of the market.
Beverages is further sub segmented as soft drinks and fruit juices, energy/sport drinks, alcoholic beverages and bottled water. Among all these sub segments soft drinks and fruit juices is expected to account for the major market share followed by energy/sport drinks. Increasing awareness among the people for healthy diet has raised the demand for packaged soft drinks and fruit juices which is further expected to contribute to the market. Also, the demand of energy/sport drinks is rising which is expected to support a substantial growth to the food and beverages additives market.
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Food and Beverages Additives Market Drivers
Rising demand for convenience and packaged foods coupled with increasing health consciousness among the people in developed economies is expected to support the growth of food and beverages additives market during the forecast period. In emerging economies, rising disposable income and shifting of consumer preference towards enhanced food products with flavors and taste is expected to fuel the growth of food and beverages additives market during the forecast period.
Food and Beverages Additives Market: Key Players
Some of the major players operating in food and beverages additives market includes Symrise AG, Sensient Technologies Corporation, Royal DSM NV, Tate & Lyle plc, Kerry Group plc, Givaudan SA and Firmenich SA among others.
Regional analysis for Food and Beverages Additives Market includes
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- EU5
- Nordics
- Benelux
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- India
- ASEAN
- Rest of Asia Pacific
- Japan
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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