Food additives are the substances added to food for enhancing the particular characteristics like shelf life, color texture, taste, consistency and aroma. There are main types of food additives present in the market are indirect and direct food additives. Indirect additives are adding the purpose of handling, packaging and storing the food whereas direct additives are used for changing the property of food like the taste. Factors like growth in the consumption of packaged foods, enlargement of food and beverage market and growing demand for healthy food is fueling the global food additives market growth in the coming years.
Lately, the inclination of nature-based additives on the basis of chemical additives are generating the opportunity for new manufacturers in producing food additives naturally in the food additives market globally. Factors restricting the market growth are strict rules of environment and difficulties occurring because of additives like allergies.
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In the year 2017, the size of the global food additives market accounted at USD 44.61 Bn with a CAGR of 5.5 % during the forecast period. Increasing the food industry related to the growth in the consumer expenditure is anticipated to boost the growth of the food additives market globally in the coming years. Increasing customer awareness related to the health consciousness with the promising government initiatives is leading to the wide usage of food additives in the market.
Transforming lifestyle and the tendency of the customer in shifting the packaged, convenient and processed products are increasing the market size. Food additives are added in very small quantities in several products for maintaining and improving the freshness on improving its appearance, texture, aroma, taste and flavor. A rise in the women workforce and change in the patterns of the lifestyle of customers has introduced the ingestion of processed products on controlling the global food additives market.
The global food additives market growth is mostly reliant on the increase in the food & beverage industry across the globe. A continuous increase in the population and better levels of urbanization across the globe are driving the demand for processed food products boosting the demand for the ingredients of the food. Manufacturers of food additives are observing the growing demand for the food manufacturers in preserving the texture, appearance, taste, safety and freshness of processed foods. Increase in the e-commerce industry in the segment of food & groceries is the main channel for retailers and compound food supply chain is boosting food manufacturers in using the efficient level of food additives. Therefore, various complexities are limiting the growth of the global food additives market.
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Strict rules for enduring the food quality, high inflation, altering food habits and factors related to health may reduce the predictions of food additives market globally. In addition, expensive food additives are compared to synthetic food is the significant factor affecting the uptake. Whereas the natural additives are anticipating the high growth in the foreseeable future, are supposed as the premium products. Manufacturers of food additives are having constant pressure having a distinct government directives in various regions. On the other hand, increasing preference of end users towards natural food additives is showing the exciting opportunities in the food additives market.
Food additives market of North America had around 25% of the food additives market share globally in the year 2017. Increase in the consumption of food ingredient and food safety in the food & beverage industry in Canada and the US is projected to surge the consumption of food additives during the forecast period.
What does the report include?
- The report focuses on food additives market, by products
- The study on the global food additives market includes qualitative factors such as drivers, and restraints
- The study covers qualitative and quantitative analysis of the market segmented on the basis of product. Moreover, the study provides similar information for the key geographies
- Actual market sizes and forecasts have been provided for all the above-mentioned segments
- The study includes the profiles of key players in the market with a significant global and/or regional presence
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