Food Additives Market size to cross $200 Bn by 2032

Food Additives Market size is poised to surpass USD 200 billion by 2032, according to a new research report by Global Market Insights Inc.
 

Surging consumption of packaged foods in developing economies such as India and China will proliferate the demand for food additives. Due to a dynamic rise in the population growth rate across APAC countries, several governments are ramping up investments in the food processing sector to meet the burgeoning demand for food and beverages and counter concerns associated with food insecurity. For instance, in March 2021, the Indian Government unveiled a production-linked incentive (PLI) scheme for the infusion of more than USD 1.3 billion in the food processing sector over the forthcoming period till 2026-27. Similar public efforts toward strengthening food security and boosting production output will spur the market demand.
 

However, potential side effects associated with the consumption of synthetic food additives may hamper the food additives market outlook. Consumption of certain food additives is linked with health problems such as asthma, heart disease, obesity, attention deficit hyperactivity disorder (ADHD), and even cancer. Some artificial preservatives are known to have an impact on overall growth and development owing to their ability to interfere with hormones.

Rising innovation in natural food colorants to drive industry expansion

Food additives market from the food colorants is expected to expand at over 3.5% CAGR from 2023 to 2032. The rising demand for food colorants among F&B manufacturers can be attributed to their ability to add flavor and color to a wide variety of foods and beverages. An array of natural as well as synthetic food colorants are available for manufacturing companies.  For instance, in March 2022, ADM revealed the new PearlEdge™ proprietary white color solutions offering exceptionally stable and uniform white coloring for bakery icings, soups, dairy & dairy alternatives, powdered drink mixes & beverages, and meat products.  

Browse key industry insights spread across 1200 pages with 4070 market data tables and 76 figures & charts from the report, “Food Additives Market Size By Product (Flavors & Enhancers, Sweeteners {Natural [Stevia, Thaumatin], High Intensity Sweeteners, Bulk Sweeteners, Sugar Substitutes [Sucralose, Xylitol, Saccharine, Aspartame]}, Food Emulsifiers, Acidulants, Shelf-Life Stabilizers, Food Colorants, Enzymes, Hydrocolloids}, Preservatives {Natural, Artificial}), By Application & Forecast, 2023 – 2032” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/food-additives-market-size
 

Increasing consumption of confectioneries to propel North America food additives industry

North America food additives market share is slated to hold USD 45 billion by 2032, due to the high consumption of processed foods. Hectic lifestyles and rapid urbanization have led to substantial consumption of ready-to-eat products and confectionery items. As per the U.S. Department of Agriculture (USDA), Economic Research Service chocolate imports along with edible cocoa products in the U.S. reached USD 2.8 billion per year between 2017 and 2021. Additionally, rising disposable income has accelerated consumer spending on food and food products across retail stores. For instance, in 2021, U.S. businesses, consumers, and government bodies spend more than USD 2.1 trillion on food and beverages, away-from-home snacks, and meals.
 

Mergers & acquisitions to boost food additives industry growth

Some of the leading companies involved in the food additives market include Sensient Technologies, Ajinomoto Co., Inc., BASF SE, Archer Daniels Midland Company, Bio Springer, Chr. Hansen A/S, Cargill Inc., Novozymes, Corbion, DuPont, Eastman Chemical Company, Givaudan S.A., Kerry Group, Ingredion Incorporated, Koninklijke DSM N.V., Mitsubishi International Food Ingredients, Inc., Lonza Group, Palsgaard A/S, Kraft Foods Group, Inc., Tate & Lyle PLC. These industry players are focusing on mergers and acquisitions to grow their business. For instance, in November 2021, Novozymes announced the acquisition of a majority stake in Synergia Life Sciences, a leading producer of vitamin K2-7, and spore probiotics to accelerate its bio-health and functional foods portfolio.