BlueWeaveConsulting
According to a new market report published by BlueWeave Consulting, the Global Food
Additive Market was valued USD 47.68 Billion in 2017 and is expected to expand at over a
CAGR of 4.89% from 2018 to 2025, by value, reaching around USD 69.63 Billion by the end
of the forecast period. According to the report, Europe was the largest contributor in terms
of revenue to global food additive market in 2017.
Growing demand for convenience or ready-to-eat food is driving the Global Food
Additive Market
Food Additives are used to slower the product spoilage caused by air, bacteria, mold, fungi
or yeast. Moreover, in order to maintain the quality of food, they support to control
contamination caused by food-borne diseases. Food Additives has increased rapidly both
technologically and by application in the recent years. These technological advancements
have acted as a breakthrough for improved natural food additives that are beneficial for
health as well.
Sweeteners and Colorants -The Leading Food Additive Product Types
The global market for food additives is segmented by product type, source, application, and
geography. The product type is further segmented into Acidity Regulator, Colorant,
Sweetener, Flavoring Agent, Emulsifier, Food Preservative, Anti-Caking Agent and Others.
The source is further segment into Natural and Artificial Sources. Furthermore, the
application market can be segmented into Bakery & Confectionery, Meat & Meat Product,
Beverage, Dairy Product, and Others.
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Asia Pacific Region – Fastest Growing Region
Geographically, the Global Food Additive market is bifurcated into North America, Asia
Pacific, Europe, Middle East, Africa & Latin America. The European food additive market was
the most prominent market because Food and drink industry is one the major revenue
contributor within the manufacturing industries of Europe, Germany, Spain, France, Italy,
and UK are the major producers of food and beverage products. Asia Pacific is expected to
increase with a CAGR of 6.36%, by value, during the period 2018-2025, owing to increasing
disposable income, coupled with increased standard of lifestyle, in developing countries like
China and India. Thus, there is increasing demand among the customers for convenience
food like processed and packaged food. Thus, there is increasing usage of food additives
used in the production of processed and packaged food. This results in surging demand for
food additives by the major players of food and beverage industry in the region of Asia-
Pacific
Global Food Additive Market: Competitive Dynamics
Major industry players in global food additive market are adopting different strategic
initiatives such as mergers and acquisitions, partnerships, and collaborations for strategic
expansion in the food additive market. For instance, BASF has successfully completed
acquisition of business and assets from Bayer. This will strengthen their agriculture sector
production.
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