Transparency
Market Research report states that the global
food additives market stood at US$31.4 bn in 2014 and is
predicted to reach US$39.8 bn by 2021, expanding at a CAGR of 3.40%
from 2015 to 2021. The title of the report is “Food Additives
Market - Global Industry Analysis, Size, Share, Growth, Trends, and
Forecast 2015 - 2021.”
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).
As
per the report, the increasing expansion of the food and beverage
industry and the rising preference for natural additives in place of
synthetic additives are amongst the prominent factors fuelling the
growth of the market for food additives. However, growth
opportunities for synthetic additives are still seen within
developing nations, thus fuelling the overall market’s growth. In
addition, the increasing health concerns have resulted in the rising
demand for functional food additives, hence boosting the market’s
growth. On the other hand, the strict guidelines and regulations
involved with the usage of food additives may restrain the growth of
the market in the coming years.
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In
terms of product type, the market for food additives is segmented
into sweeteners, flavors and enhancers, colorants, enzymes, food
preservatives, emulsifiers, and fat replacers. Amongst these, the
segment of flavors and enhancers led the market in 2014 and is
predicted to maintain its superiority throughout the forecast
horizon. This segment was trailed by the segment of fat replacers,
which is predicted to take the second largest share in the market in
the forecast period.
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
Global
Food Additives Market by Geography/ Country
North
America
- U.S.
- Canada
- Others
Europe
- Germany
- UK
- France
- Others
Asia
Pacific
- China
- India
- Japan
- Others
RoW
- Middle East
- Latin America
- Africa
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