Food Additives Market Trends and Forecasts, 2016 to 2024

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Food Additives Market Analysis, Size, Share, Growth, Industry
Trends and Forecast to 2024 - Hexa Research
The global food additives market is anticipated to reach USD 56 billion by 2024. Rapid growth
in the food & beverage industry in the Middle East and BRICS (Brazil, Russia, India, China, and
South Africa)-as a result of growing domestic consumption and rising foreign direct
investments-is projected to augment the market growth. Increasing awareness about different
types of tastes is also likely to act as an important growth driving factor. In addition,
manufacturers are increasing their production capacities due to rising demands for packaged
foods including ready-to-eat products, frozen meals etc. which will eventually therefore
augment the market growth. The global market is categorized as products and regions.
The product sector comprises flavors & enhancers (natural, artificial), enzymes, sweeteners
(high intensity, HFCS), emulsifiers (mono, lecithin, di-glycerides, sorbitan esters, stearoyl
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lactylates), fat replacers (protein, starch), and shelf-life stabilizers. The enzymes sector is
estimated to remain the fastest-growing sector, with a CAGR of over 6 % from 2016 to 2024.
Flavors & enhancers dominated the application sector in 2016 accounting for 30 % of the total
market revenue. The natural flavors sector is likely to grow at a healthy CAGR of over 6 % from
2016 to 2024.
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Sweeteners are mainly used in formulating F&B products. Moreover, growing health concerns
such as tooth decay, diabetes, etc. and rising importance of low-cal food products are
anticipated to augment the demands for sugar substitutes such as High Fructose Corn Syrup
(HFCS) and High-Intensity Sugars (HIS). The sector is projected to grow at a CAGR of over 5 %
during the estimated years.
The Europe food additives market held over 30 % of the overall share in 2016 due to growing
significance of functional ingredients to integrate properties such as flavor, shelf life-extension,
and emulsification. The Asia-Pacific region accounted for 27 % in 2015 and is anticipated to
experience considerable gains over the next few years. The Indian market is likely to grow at a
decent CAGR of over 5 % during the forecast period. The Middle East is said to be the highpotential market on account of rising domestic consumption along with the favorable support
to attract fresh investments.
The major companies in the food additives market include BASF SE; E. I. du Pont de Nemours
and Company; Eastman Chemical Company; and Cargill Inc.
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Food Additives market is projected to grow at a CAGR of approximately 5% over the forecast period. The consumer’s demand for safer and more nutritious food in form of nutritious additives such as vitamins is expected to fuel the growth of the industry.