Northbrook, IL 60062 -- (SBWIRE) -- 12/21/2023 -- According to a recent research report titled "Food Additives Market by Type (Emulsifiers, Hydrocolloids, Preservatives, Dietary Fibers, Enzymes, Sweeteners, Flavors), Source (Natural, Synthetic), Form, Application (Food, Beverages), Functionality and Region - Global Forecast to 2028" by MarketsandMarkets, the food additives market is anticipated to reach USD 96.3 billion by 2028, exhibiting a CAGR of 5.6% from USD 73.4 billion in 2023. This growth is attributed to increasing consumer demand for natural and clean-label products, the expansion of the food and beverage industry, and advancements in food processing technology.

Download PDF Brochure

Key Findings and Market Dynamics:

Consumer Preferences Driving Growth:

The market is expanding due to growing consumer preference for natural, healthy, and transparent products. Plant-based and natural ingredients are gaining traction, aligning with the rise in eco-conscious consumer choices.

Focus on Health and Functionality:

A shift towards functional and health-focused foods is fostering demand for additives designed to impart nutritional benefits. Consumers seek products that balance taste and well-being, driving innovation in additives for nutritional fortification.

Clean-Label Trend:

The popularity of clean-label products is leading to increased demand for additives that maintain transparency while enhancing overall product quality. Technological advancements, especially in encapsulation solutions, contribute to improved stability for sensitive ingredients.

Regional Growth in Asia Pacific:

The Asia Pacific food additives market is experiencing significant growth, driven by surging demand for clean-label and natural additives. The region's dynamic shift towards processed and convenience foods, especially in countries like China and India, contributes to the demand for advanced and sustainable food additives.

Sugar Substitutes Dominance:

The surge in sugar substitutes is fueled by health-conscious consumers and industry innovation. As consumers prioritize healthier lifestyles, the demand for sugar substitutes rises, aligning with the clean-label product trend.

Make an Inquiry

North America's Dominance:

North America dominates the food additives market, with key players strategically responding to trends such as the demand for clean-label and plant-based products. The region sees a proactive adoption of natural additives and alternatives, reflecting a consumer shift towards healthier options.

Key Players:

Major players in the food additives market include Cargill, Incorporated (US), BASF SE (Germany), ADM (US), IFF (US), Kerry Group PLC (Ireland), Ingredion Incorporated (US), Tate & Lyle (UK), Givaudan (Switzerland), Darling Ingredients Inc. (US), Chr. Hansen Holding A/S (Denmark), Novozymes (Denmark), Ashland (US), Cp Kelco (US), Glanbia PLC (US), and Sensient Technologies Corporation (US).

In summary, the global food additives market is characterized by a dynamic landscape shaped by evolving consumer priorities, technological innovations, and a growing emphasis on health and sustainability.

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441