Food Additives Market Expected to Grow $ 84,208.8 Million by End of 2027, According to Coherent Market Insights

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SEATTLE, November 29, 2021 / PRNewswire / – According to Coherent Market Insights, the food additives market is estimated at US $ 84 208.8 Mn in value by the end of 2027, witnessing a CAGR of 5.30%.

Food additives are man-made materials added to food to improve taste, appearance, texture or any other physical or chemical sensory quality. Certain additives have actually been used for thousands of years in efforts to improve the taste of foods, such as salt, vinegar, sugar, or smoke, to name a few. The most commonly used food additives include colors, preservatives, flavors, soy sauce, and wheat germ. One of the ingredients used in many snack foods, such as potato chips, is ethoxyquin, a colorless, translucent substance that is added by manufacturers to give their products a rainbow look. Food additives can also be used in packaged foods such as sodas and juices. In addition to adding food additives to a food product, manufacturers of cosmetic products, including hand lotions, face creams and scrubs, often add color, flavor, and pH balance. to their products.

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Market factors:

Functional food additives are gaining popularity in the market due to their higher nutritional value in food products. This should promote the growth of the market. The increase in strict rules and regulations regarding the use of food additives is again promoting the growth of the market. For example, in the European Union, for example, there is legislation governing the labeling of food additives according to a set of predefined “E numbers”.

The rapid growth of the processed food industry is accelerating the growth of the market. According to the India Brand Equity Foundation, the Indian food industry accounts for 32 percent of the country’s total food market, one of the largest industries in the world. India and is ranked fifth in terms of production, consumption, export and expected growth. It contributes around 8.80 and 8.39 percent of gross value added (GVA) in manufacturing and agriculture respectively, 13 percent of india exports and six percent of total industrial investment.

Market opportunities:

The increase in the consumption of ready meals due to the fast-paced lifestyle of consumers is expected to provide lucrative growth opportunities for the market. Another major factor that is expected to drive the growth of the market in the near future is the expansion of the retail industry. According to Trading Economics, US retail sales unexpectedly rose 0.7% month-on-month in September 2021, following a revised upward 0.9% increase in August.

Growing application of food additives market should bring great market opportunities. Thus, the growth in the sales of food additives will promote the growth of the market. According to the Therapeutic Research Center, the food additives market has reached $ 132.8 billion in 2016 and is on track to achieve $ 220.3 billion by 2022. In the United States alone, sales reached $ 42.6 billion in 2018.

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Market trends:

One of the emerging trends in the market is the continuous launch of innovative new products in food additives. For example, in September 2019, DuPont Nutrition & Biosciences (DuPont) announced the launch of its DuPont ™ Danisco® POWERPasta ™ line of enzymes, the latest solution for customers in the growing global pasta industry. POWERPasta ™ helps maintain the eating, cooking and serving qualities and color authenticity of durum wheat pasta from package to plate.

The growing popularity of citric acid as an acidity regulator in the food industry where it is used in confectionery, convenience and dairy products is expected to drive the market growth. Moreover, emulsifiers and stabilizers are gaining ground in the market which again increases the growth of the food additives market.

Competitive landscape:

1. Cargill Incorporated

2. Ajinomoto Co., Inc.

3. Archer Daniels Midland

4. Alpha Ingredients Srl

5. Kerry Group

6. EI du Pont de Nemours et Compagnie

7. Ingredient Incorporated

8. Chr. Hansen Holding A / S

9. BASF SE

ten. Tate & Lyle PLC

11. Novozymes A / S

Market segmentation :

By product type

  • Acidity regulators
  • Dyes
  • Emulsifiers
  • Enzymes
  • Hydrocolloids
  • Flavoring agents
  • Preservatives
  • Sweeteners

By provenance

By application

  • Bakery & Confectionery
  • Dairy products and frozen desserts
  • Snacks and ready meals (processed and frozen)
  • Beverages
  • Meat and poultry products
  • Others (Sauces, soups and baby foods)

By region

  • North America
  • Latin America
  • Europe
  • APAC
  • Middle East & Africa

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