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Food and Beverage Additives Market - Forecast(2023 - 2028)
Overview
Food and Beverage Additive Market Size in 2019 is $105 billion and is growing at a CAGR of 3.70% during the forecast period 2020-2025. Food additives are specialty products incorporated into food to preserve or improve food quality, freshness, taste, texture or appearance. Some food additives provide various effects on food and have been used for preservation. Some such additives are salt (in meats such as bacon and dried fish), sugar (in marmalade), or sulfur dioxide (in wine). Sorbitan monostearate is used as a food additive that works as an emulsifier to keep water and oil mixed. Sodium alginate is a food and beverage additive added to juices for thickening and emulsifying purposes. An increase in health consciousness and rising demand for convenience and packaged foods are the major factors driving the growth of the market.
Report Coverage
The report: “Food and Beverage Additive– Forecast (2020-2025)”, by Industry ARC, covers an in-depth analysis of the following segments of the Food And Beverage Additive Market.
By Form
- Solids
- Liquids
- Pastes
- Others
By Types
- Texture Stabilizer
- Emulsifiers
- Thickeners
- Stabilizers
- Gelling Agents
- Acidity Regulators
- Bleaching Agents
- Enzymes
- Colorants
- Flavorants
- Preservatives
- Artificial Sweeteners
- Improvers
- Fillers
- Others
By Application
- Food
- Fruits and Vegetables
- Diary Products
- Meat and Poultry
- Seafood
- Pasta and Noodles
- Others
Beverages
- Alcoholic Beverages
- Non-alcoholic Beverages
By Geography
- North America
- Europe
- APAC
- RoW
Key Takeaways
- North America dominates the Food and Beverage additive Market owing to well-established food & beverage industry facilities, increasing awareness about health and government initiatives focusing on food safety.
- Increasing health concerns and rising demand for packaged food is likely to aid in the market growth of food and beverage additive.
- Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the Food and Beverage Additive Market report.
Form - Segment Analysis
Based on the forms, the food and beverage additive market is segmented into solids, liquids, pastes, and others. The liquid additive is estimated to hold the largest share in the food and beverage additive market. This is mainly owing to protection from microbial bacteria, increasing consumer food safety and extend the shelf life of such liquid additive products. Also, it is used to increase the food’s nutritive value, making the food last longer which will further contribute to the growth of this segment in the food and beverage additive market.
Application - Segment Analysis
Based on the application, the food and beverage additive market is segmented into food and beverages. The beverages segment is forecast to have the fastest growth with a CAGR of 3%. This is mainly owing to the rising consumption of water and awareness on its benefits for digestion, circulation, temperature regulation and more. Along with this, an increase in the consumption of wine/beer is also further contributing to the segment growth.
Geography - Segment Analysis
North America dominates by region and accounts for 32% of the Food and Beverage Additives Market share. The Mexican government regulation regulates and restricts the use of additives in food, beverages and food supplements. It also enforced good manufacturing practices and also domestic practices according to international standards and norms that modified the list of permitted additives. Increasing consumer exposure to packaged food in North America is the driver for the Food and Beverage Additives Market. Several food additives banned in other countries are being used in America. However, stringent regulations like that of the FDA on the use of antimicrobial additives in processed foods and food-contact substances are expected to restrict the growth of this market. The Asia-Pacific market for additive food and beverage is anticipated to be the fastest-growing region over the forecast period. This is mainly owing to factors such as increasing health concern, rising population and rising demand for packaged food.
Drivers – Food and Beverage Additives Market
- Increase in food safety and health consciousness
According to European Food and Safety Authority, food additives are substances added intentionally to foodstuffs to perform certain technological functions. WHO, in cooperation with the Food and Agriculture Organization of the United Nations is responsible for assessing the risk to human health from food additives. Rising awareness among the consumer for a healthy lifestyle through various commercial advertisement is expected for the growth of food and beverage additive.
- Rising Demand for packaged foods
Rising demand for convenience and packaged foods coupled is expected to contribute to the growth of Food and Beverage Additives Market. Also, rising disposable income and shift of consumer preference towards enhanced food products that offer flavor and taste are anticipated to drive the growth of the Food and Beverage Additives Market.
Challenges – Food and Beverage Additives Market
The strict regulations by food administration agencies and increasing health hazards are the major factors that restrain the growth of the Food and Beverage Additives Market. Also, increasing the use of alternatives like organic food is also expected to hamper the growth of the food and beverage additives market.
Food and Beverage Additive Industry Outlook
Product launches, Merger & Acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Food and Beverage Additives Market. Food and Beverage Additives top 10 companies are Kerry Group, E.I. DuPont, Symrise, Archer Daniels Midland, Sensient Technologies, Cargill, Royal DSM NV, CHR. Hansen Holding, Tale & Lyle, Firmenich SA, Givaudan SA, and BASF among others.
Developments
Kerry Group acquired Ariake USA, of Ariake Japan Co. to enhance their foundational technology portfolio, and strengthen the foodservice.
DSM launched a new generation sweetener AVANSYA Reb M at IFT, enabling advanced sugar reduction in a range of food and beverages.