Food Additives Market Driven due to Increasing Expansion of Food and Beverage Industry

Food additives are substances added to various food products for enhancing their appearance and taste or for preserving their flavor. A variety of food additives have been utilized by man, such as vinegar for the preservation of food by pickling, sulfur dioxide for wines, salting as in the case of bacon, etc. Food additives can be of both artificial and natural origin. For the regulation of these additives and in order to keep customers informed, each food additive has been assigned a unique number called as ‘E number’ in European countries. The Food and Drug Administration (FDA) in the U.S. categorizes food additives as ‘generally recognized as safe’ (GRAS).

The increasing prevalence of obesity, cancer, cardiovascular disorders, and other health issues have strongly created a demand for functional foods that benefits for the prevention, management, or the treatment of chronic diseases. This has spurred a growth in the demand for functional food additives. Increasing cases of obesity among teenagers have fueled the demand for additives such as hydrocolloids, emulsifiers, vitamins, and minerals. Apart from this, the growing population worldwide has led to a growth in the food and beverage industry, which in turn is driving the demand for food additives.

By product, the flavors and enhancers segment led the market in 2014 and will continue to retain its leading position in the coming years, states a TMR analyst. By source, the artificial segment led the market in 2014 and will continue to do so by the end of 2021. By geography, the global food additives market was led by Europe in 2014. However, Asia Pacific is expected to take over the leading position by 2021.

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According to the report, the global market opportunity in food additives will rise from US$31.43 bn in 2014 to US$39.85 bn by 2021 expanding at a 3.4% CAGR from 2015 to 2021.

On the basis of source, the report segments the market into artificial food additives and natural food additives. Amongst these, artificial food additives led the market in 2014. On the other hand, the segment of natural food additives is poised to be the most swiftly growing segment in the forecast horizon.

In terms of geography, the report segments the market into Europe, North America, Asia Pacific, and Rest of the World (RoW). Amongst these, Europe led the market in 2014 and held a share of 30.1% in the market. This region was trailed by Asia Pacific, which stood as the second largest market for food additives and held a share of 27.2% in the same year. This region is predicted to surpass Europe and lead the market by 2021.

As stated in the report, the key players dominant in the market are Cargill, BASF SE, Associated British Foods, and Ajinomoto, among others.

The market has been segmented as follows:

Global Food Additives Market by Product Type:

• Flavors and Enhancers
• Sweeteners
• Enzymes
• Colorants
• Emulsifiers
• Food Preservatives
• Fat Replacers

Global Food Additives Market by Source:

• Natural
• Artificial