Market Overview

Global food additives market was valued at USD 64.04 billion in 2018, and it is expected to reach USD 90.84 billion by 2024, at a CAGR of 6% during the forecast period.

  • Despite its highly developed state, the global food additives market continues to grow in value terms. Demand remains high from the world’s food and drink manufacturers, since additives are used for a wide variety of different purposes examples include taste enhancement (flavours), food safety (preservatives), appearance (colours), texturizing (hydrocolloids) and, increasingly, to impart additional health qualities (antioxidants and functional food ingredients).
    Scope of the Report

    Global Food Additives market is segmented by type of additives such as Preservatives, Sweeteners, Emulsifiers, Anti-Caking Agents, Hydrocolloids, Colorants, Acidulants, Flavors and Enhancers and Enzymes. Each segment is further segmented into popular sub-segments and by the application. Further, the market is segmented by Geography.

    Key Market Trends

    Asia Pacific is the fastest growing market for Flavors and Enhancers

    The major manufacturing hubs in the globe are North America and Asia-Pacific which constitute the majority share in the food flavours and enhancer market. The other three regions are Europe, South America, and Africa. The European market is a mature market and has several regulatory bodies to regulate stringently the use of food flavours and enhancers, thereby taking care of the consumers of the nations. The small firms merging with the large well-established firms have increased the revenues over the years. As the per capita income, of the developing countries are increasing significantly, the demand for food flavours has increased.

    Sweeteners hold a prominent share in the Food Additives market

    The global sweetener market is segmented by type into bulk sweetener and sugar substitute. The bulk sweetener is further segmented into Sucrose, Fructose. Lactose, High Fructose Corn Syrup (HFCS), and others. Bulk sweetener is the largest segment and holds a share of 56.66%.Sucrose dictates more than 13% share in this market. The major constraint in the sugar market is the volatility in prices, leading to market fluctuations. Growing health concerns associated with artificial sweeteners such as aspartame and saccharin are driving consumers’ interest in natural sweeteners. Steviol glycosides mainly drive the growth in the natural high-intensity sweeteners space followed by monk fruit extract mogroside V. Stevia is also seeing a major demand in the natural sweeteners category.

    Competitive Landscape

    The market is dominated by Cargill, Kerry Group, ADM, Tate & Lyle, Danisco, Givaudan, Brenntag, Firmenich, Associated British Foods, and International Flavors & Fragrances. These companies together account for more than 50% of market share. Tate & Lyle major sweetener brand, SPLENDA sucralose, on the expiry of the patent on its production process, made several domestic players to increase their production capacity of sucralose and led Tate to lose its share. Givaudan and International flavours & fragrances are investing in new production facilities of food ingredients in the developing countries, with focus, particularly in the ASEAN markets.

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