Global Food Additives Market to Develop Moderately at 3.4% CAGR between 2015 and 2021
Market Research Reports Search Engine (MRRSE) has recently published a market study on the global food additives market, titled “ Food Additives Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 – 2021”. The report states that the overall value of this market in 2014 stood at US$31.43 billion.
The analysts of the report project the global market for food additives to expand at a CAGR of 3.4% during the period from 2015 to 2021, reaching a value of US$3.85 billion by the end of the forecast period.
According to the report, the increase in the demand for food additives (both natural and functional) is the key factor driving the global food additives market. Apart from this, the rise in awareness pertaining to healthcare among consumers is also stimulating the food additives market across the world.
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On the other hand, stringent regulations and policies associated with food additives composition are likely to limit the growth of the global food additives market over the forecast period. However, analysts expect this market to benefit from the strong development of synthetic additives in emerging economies, as stated in the study.
The report classifies the global food additives market on the basis of products, source, and its regional distribution. The main components of the global food additives products market are flavors and enhancers, sweeteners, food preservatives, colorants, emulsifiers, enzymes, and fat replacers. Among these, the flavor and enhancers market dominated the global food additive products market in 2014 and is expected to continue to lead the market segment during the forecast period, as per the report.
Based on source, natural food additives and artificial food additives are the key components of the global market for food additives. In 2014, the artificial food additives market reported a lead over the natural food additives market. Analysts project this market segment to maintain its dominance over the forecast period. However, they also expect the natural food additives market to register the fastest growth during the same period.
Europe, among all the regional markets, dominated the global food additive market in 2014. The European food additive market held 30.1% of the global market in the year and was followed by the Asia Pacific market with a 27.2% market share. However, analysts at MRRSE estimate the Asia Pacific food additives market to acquire the leading position during the forecast period.
The report also profiles the companies operating in the global food additives market in order to present the competitive landscape of this market. AVEBE, Cargill, Ajinomoto, and Archer Daniels Midland are some of the major companies in this market.