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Food Additives Market Analysis

Report ID: GMI155
Published Date: Mar 2023
Report Format: PDF

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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.

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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.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of food additives reached USD 100 billion in 2022 and is poised to grow at 7% CAGR from 2023 to 2032.

The sweeteners segment is expected to witness over 8.8% CAGR through 2032, due to the health benefits of low-calorie sweeteners in weight management.

The market size for food additives in Asia Pacific is likely to reach USD 75 billion by 2032, owing to the increasing production of agriculture and processed food products in India.

BASF SE, Bio Springer, Cargill Inc., Novozymes, DuPont, Corbion, Givaudan S.A., Kerry Group, Lonza Group, Palsgaard A/S, and Tate & Lyle PLC are some of the major manufacturers of food additives.