Food Additives Market Size By Product (Flavors & Enhancers, Sweeteners, Acidulants, Shelf-Life Stabilizers, Enzymes, Hydrocolloids, Preservatives), By Application (Bakery & Confectionery, Food & Nutrition, Beverages, Dairy & Frozen Desserts, Sauces & Dressings), 2023 - 2032
Report ID: GMI155
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Published Date: March 2023
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Report Format: PDF
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Base Year: 2022
Companies covered: 20
Tables & Figures: 4097
Countries covered: 23
Pages: 1200
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Food Additives Market
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Food Additives Market Size
Food Additives Market size valued at USD 100 billion in 2022 and is projected to register 7% CAGR from 2023 to 2032.
Increasing consumer inclination towards clean labeled products will have a positive impact on the industry size. Rising disposable incomes and the rapid penetration of clean food trends across developed and developing economies, particularly across Europe are driving the demand for novel food additives. Moreover, the recent technological breakthroughs and innovations in plant-based food ingredients will complement the industry outlook. The significant rise in the number of clean labeled food manufacturers is offering lucrative scope for new product developments. For instance, in March 2023, InnovoPro, a global leader in chickpea protein, unveiled Cacio e Pepe Plant-Based Cheese Crisps made from its clean-label ingredient, CP-Pro 70® chickpea protein concentrate.
Growing preference for additive-free alternatives may impede product demand
Increasing consumption of additive-free and organic food products could hamper the food additives market growth. With the growing consumer awareness regarding harmful preservatives and synthetic additives, the demand for natural and organic foods has increased substantially in the recent past. The rising adoption of healthier lifestyle choices for the overall fitness and well-being of consumers is further driving the demand for additive-free and preservative-free packaged foods, limiting the use of food additives. However, recent advancements in plant-based ingredients, enzymes, and nutrients will spur the industry demand.
Food Additives Market Analysis
Based on product, the food additives market share from sweeteners segment is estimated to record 8.8% CAGR between 2023 and 2032. Sweeteners are widely used in food, beverages, bakery items, confectioneries, and low-calorie synthetic products. In the recent past, low-calorie sweeteners have gained significant traction among health-conscious consumers due to their physiological and psychological benefits. They have a myriad of health advantages, including reduced dental caries, weight management, limited risks associated with obesity, and management of diabetes. The rising incidence rate of chronic illnesses, such as diabetes and obesity will propel the demand for low-calorie and natural sweeteners.
Other food additives products used by food and beverage manufacturers include food enzymes, acidulants, flavors, emulsifiers, colorants, preservatives, and shelf-life stabilizers. The food additive market from the enzymes product segment will gain traction through 2032. Enzymes are emerging as popular food additives that enhance the taste, texture, and appearance of food products. In addition to the physical and chemical characteristics of foods and beverages, enzymes are also considered to have a positive impact on consumer health.
Asia Pacific food additives market size is poised to exceed USD 75 billion by 2032, as the region is expected to emerge as a prominent hub for food additive manufacturers on account of the expanding food processing sector. The constantly escalating population in countries, such as India and China have led to increasing disposable incomes, and rapid urbanization, Thus, the consumption of packaged foods has increased significantly over the past few decades, further proliferating the demand for food additives. For instance, India reported record-high exports of agriculture and processed foods in FY 2022, reaching over USD 25.5 billion.
Food Additives Market Share
Some of the leading companies in the food additives market include:
These firms are foraying into strategic partnerships and collaborations to boost innovations and product developments. For instance, in March 2023, Cargill announced partnership with food tech company, CUBIQ FOODS to ramp up the commercialization of the latter’s innovative fat technologies for enabling new launches in plant-based food products.
Impact of the COVID-19 pandemic
The COVID-19 crisis had a positive impact on the food additives industry. During the initial phase of the outbreak, consumers stocked up on packaged foods due to the imposition of strict lockdowns, driving the demand for food additives. Moreover, the growing consumer need for non-perishable food products with longer shelf life spurred the usage of food additives in food processing. Despite short-term challenges associated with transportation, restocking, and shortage of food products at retail, the pandemic provided significant boost to the food additives industry. The International Food Additives Council along with several other food and health agencies assured optimum safety and quality of the global food supply chain with of the help of food additives in providing shelf-stable products, adding to the market demand.
This food additives market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Million Tons and revenue in USD Billion from 2018 to 2032 for the following segments:
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Market, By Product
Market, By Application
The above information has been provided for the following regions and countries: