[Online Quarterly Update] Food Additives demand stood at 1.36 Million Tonnes in 2020 and is forecast to reach 2.45 Million Tonnes by 2030, growing at a healthy CAGR of 5.75% until 2030. Food Additives are chemicals that are added to food items to impart specific properties to the food product. Food Additives can enhance several properties of food, including shelf life, lowering contamination, appearance, and appeal, and overall food safety. Food Additives are of various types including acidulants, emulsifiers, colors, flavors, hydrocolloids, preservatives, and sweeteners.
Due to their property-enhancing capabilities, Food Additives find application in various types of food products, including bakery and confectionary, beverages, dairy, and frozen desserts, spices, condiments, sauces and dressings, and others. Growing population and food requirements coupled with changing lifestyles and preferences for packaged food are expected to drive the demand for Food Additives for the forecast period. Moreover, the increasing number of working women worldwide is also another factor propelling demand growth of packaged food, thus growing the demand for Food Additives.
In 2020, the spread of COVID-19 in major global economies caused nationwide lockdowns, which had an impact on several industries. The food industry was among the least affected industries during the pandemic. In fact, during the pandemic, there was a surge in the demand for packaged food, which impacted the demand for Food Additives for the first half of 2020. The demand for Food Additives grew during the coronavirus pandemic. Along with the online delivery systems, many businesses expanded over the online platform, and with the ease of access and surety of all the health checks done and confirmed, consumers were inclined to purchase the packaged food from the online platforms that influenced the production of the snack items and other products in abundance and thereby aided to the growth of the global Food Additives market in the upcoming ten years.
Region-wise, the Asia Pacific region holds the major share of global demand for Food Additives due to increasing population and food security requirements in emerging economies like India and China. Moreover, increasing preference towards packaged food coupled with a growing number of food industries using Food Additives is another factor influencing demand growth in the Asia Pacific region.
Major players for Food Additives globally include BASF, DuPont, Cargill, Archer Daniels, Adani Wilmer, Midland Company, Ajinomoto, Hansen Holding A/S, Kerry Group Plc, Kerry Group, Evonik Industries AG, Tate & Lyle PLC, Novozymes A/S, etc.
Years considered for this report:
Historical Period: 2015-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022–2030
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Objective of the Study:
• To assess the demand-supply scenario of Food Additives which covers production, demand and supply of Food Additives market globally.
• To analyse and forecast the market size of Food Additives.
• To classify and forecast global Food Additives market based on technology, end-use, and regional distribution.
• To identify drivers and challenges for the global Food Additives market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the global Food Additives market.
• To identify and analyse the profile of leading players involved in the manufacturing of Food Additives.
To extract data for the global Food Additives market, primary research surveys were conducted with Food Additives manufacturers, suppliers, distributors, wholesalers and end-users. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end-user segments and projected a positive outlook for the Global Food Additives market over the coming years.
ChemAnalyst calculated Food Additives demand globally by analyzing the historical data and demand forecast, which was carried out considering imported Food Additives, prices, materials used for the production of Food Additives. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Food Additives manufacturers and other stakeholders
• Organizations, forums and alliances related to Food Additives distribution
• Government bodies such as regulating authorities and policymakers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Food Additives manufacturers, customers and policymakers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in making investment decisions and facilitating their expansion.
Report Scope:
In this report, global Food Additives market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
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Which are the major application areas of food additives?
Ans:
bakery and confectionary, beverages, dairy and frozen desserts, spices, condiments, sauces and dressings are the major application areas of food additives.
Q2.
Which region holds the maximum demand share in the Global food additives market as of 2020?
Ans:
Asia Pacific holds the major demand share of food additives due increasing population and changing preference for packaged food.
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