Food Additive Market is Estimated to Reach USD 551.4 Billion by 2034, Driven by Growing Demand for Processed and Convenient Food Products | Future Market Insights, Inc.
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Usage of food additives is expected to remain high in the beverage sector during the forecast period. As per the latest report, the target segment is anticipated to account for a market share of 34.0% in 2024.
The market size is increasing as a result of the promotion of healthy food additives by several food and beverage firms. Leading corporations are promoting probiotics, dietary fibers, and prebiotics as healthful foods to gain market share.
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The Factors Increasing the Demand for Food Additives are as follows:
Food additives play a vital part in the food and beverage industry. They are used for various purposes, from preserving freshness to improving color and texture.
The growing usage of food additives to improve the taste, quality, and texture of different food products is expected to boost the market. Similarly, the ability of food additives like preservatives to extend the shelf life of food products will boost their sales through 2034.
The market for food additives is influenced significantly by consumer preferences and changing lifestyles. There is a rise in demand for processed and packaged food products as consumers seek convenience and a broader range of food variety. This will likely fuel food additive demand.
Food additives make processed food products attractive and safe. They prevent spoilage, maintain nutritional content, and enhance the overall sensory experience of the food. Hence, increasing production and consumption of processed and packaged food products is set to bolster sales of food additives.
Common food additives include flavor enhancers, sweeteners, colors, and stabilizers. They play a critical role in enhancing appearance, extending shelf life, and improving processed food products' taste, texture, and palatability.
Preservatives help extend the lifespan of goods, thereby reducing food waste. Flavor enhancers and sweeteners enhance the taste of foods and beverages, catering to evolving consumer preferences for exciting and healthier options.
The market is also witnessing a shift toward natural food additives. Growing concerns over several synthetic food additives' safety and health effects drive this trend.
Key Takeaways from the Food Additives Market Report:
"The food additive industry is poised to expand rapidly, driven by growing consumer demand for diverse and convenient food options. To gain maximum profits, key players will look to develop new safe and natural food additives", says Nandini Roy Choudhury, Client Partner at Future Market Insights.
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Who is Winning?
Chr. Hansen Holding A/S, BASF SE, Royal DSM N.V., Sensient Technologies Corporation, Dow Chemical Company, Nutra Food Ingredients, LLC, Bell Flavors & Fragrances Incorporated, and Ajinomoto Food Ingredients are the key food additive manufacturers listed in the report.
Top companies are expanding product portfolios by introducing new food additives like natural flavors and low-calorie sweeteners. They also employ strategies like advertising, partnerships, acquisitions, agreements, and mergers to gain a competitive edge in the market.
Key Players Listed in the Food Additives Global Market Report
For instance,
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Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global food additive industry, presenting historical demand data (2019 to 2023) and forecast statistics for the period from 2024 to 2034.
The study incorporates compelling insights on the food additive market based on product type (dairy ingredients, sweeteners, fibers, and fine ingredients) and end-use application (dairy industry, confectionery, bakery, snacks, sauces & soups, pasta & noodles, meat products, baby food, pharmaceuticals, beverages, dietary supplement and personal care) across various regions.
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Food Additive Market by Category
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About the Food & Beverage Division at Future Market Insights (FMI)
Future Market Insights (FMI) food & beverage team offers comprehensive business intelligence services, with a vast array of reports and data points analyzed across 50+ countries over a decade. The team provides consulting services and end-to-end research, offering expert analysis, actionable insights, and strategic recommendations to clients worldwide. Contact them to explore how they can assist with your unique business intelligence needs.
Authored by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor's Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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