Global Food Additives Market for Bakeries & Restaurants – 2018-2027
Food additives are substance added to food to extend its shelf life or enhance their taste, appearance or other qualities. Some food has been in use for centuries for preservation, such as salt, sugar or sulfur dioxide. The global market for food additives for bakeries & restaurants is anticipated to record a CAGR of 5.21% over the forecast period, i.e. 2020-2027. Factors such as rising consumption of food additives by the bakeries and restaurants and rising number of food outlets across the globe are anticipated to promote significantly towards the growth of the global food additives market for bakeries & restaurants.
The market is further anticipated to gain an incremental $ opportunity of USD 7.19 million in the year 2027 as compared to the year 2025. Additionally, several other factors, such as growing number of consumers who prefer visiting a restaurant for the consumption of convenience and packaged foods, growing number of tourists worldwide and growing number of individuals with the preference for low calorie foods along with the growing number of food stores around the world are some of the factors anticipated that are driving the growth of the global food additives market for bakeries & restaurants. According to the statistics stated by the National Restaurant Association, 9 in 10 consumers prefer to go to restaurant, and that two-third of the consumers believe that restaurant provided flavors which they can’t easily duplicate at home.
The global food additives market for bakeries & restaurants consists of various segments that are segmented by end user and by region. The end user segment is sub-divided into bakeries and restaurants, out of which, restaurant segment, which was valued at USD 30.70 million is anticipated to hold the largest market share and attain an absolute $ opportunity of USD 16.01 million by growing at 1.52x during the assessment period.
Based on region, the global food additives market for bakeries & restaurant is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The market in North America, which held a market share of 24.14% in the year 2018 is anticipated to grow at a CAGR of 5.25% over the forecast period.
Some of the key industry leaders in the global food additives market for bakeries & restaurant are Cargill, Incorporated, DuPont de Nemours, Inc., Archer Daniels Midland Company, BASF SE, Tate & Lyle and Ajinomoto Co., Inc.