Global Food
Additives Market is
expected to reach USD 55.53 billion by 2022, according to a new study by Grand
View Research, Inc. Food & beverage industry growth in BRICS and Middle
East on account of rising domestic consumption and increasing foreign direct
investments is expected to augment market growth. Asia Pacific is expected to
be one of the most promising markets on account of growing domestic consumption
in China and India owing to population growth and new product launches by food
& beverage manufacturers. Availability of raw materials such as sorbitol
and lactic acid in China, Indonesia, and Malaysia in light of abundant farmland
for oilseeds and soy is expected to be a favorable factor for market growth in
the near future.
Flavorants & enhancers were
the largest application segments, accounting for over 30% of global food
additives market revenue in 2014. Increasing consumer awareness towards
consumption of low salt and sugar free products is expected to enhance the
importance of flavors and enhancers over the forecast period.
Germany food additives market
by product, 2012 - 2022 (USD Million)
Browse full research report on
Food
Additives Market
Further key findings from
the report suggest:
- Enzymes are
anticipated to remain the fastest growing segment, growing at a CAGR of
over 5% from 2015 to 2022. Increasing use of enzymes in food &
beverage industry in light of low cost as compared to others synthetic
chemicals and regulatory inclination to restrict green house gas (GHG)
emissions is expected to be a favorable factor for food additives market
growth over the forecast period.
- Increasing
consumption of emulsifiers in salad dressings, peanut butter, chocolate,
margarine and frozen desserts is anticipated to propel market growth for
food additives over the next seven years.
- Food &
beverage companies such as Coca Cola, Nestle and Mondelez International
have increased their market presence in high demand regions such as Brazil
and India through product innovations and strategic partnerships with
brand partners. As a result, food additives market players are expected to
utilize this opportunity for establishing their production bases in the
emerging economies.
- Global market
for food additives is highly fragmented with a presence of large number of
chemical and functional ingredients manufacturers such as DuPont, BASF,
Cargill and Eastman. The market is characterized by significant
consolidation by companies entering in to strategic alliances with members
within the value chain. In September 2012, DuPont and AvidBiotics Corp.
formed a partnership aimed at improving food safety by giving exclusive
rights to DuPont to use AviBiotics antibacterial protein technology.
For
more information: http://www.grandviewresearch.com
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