Feb 3, 2020
According to a new research report, food Additives Market size is Valued at USD 55 Billion in 2017 and may exceed USD 115 Billion by 2024.
Growing consumer awareness about health consciousness along with supportive government schemes has led to the widespread usage of food additives in the market.
The rapid expansion of technology in the food industry pertaining to consumer’s demand for healthy and organic product options will positively influence market growth.
Food additives have various applications in bakery and confectionary, beverages, dairy and frozen products, sauce and dressings amongst others. The rapid expansion of technology in the industry pertaining to consumer’s demand for healthy and organic product options will positively affect market growth.
Sweeteners Market is projected to surpass over USD 60 billion by 2024. Consumers believe low-calorie sweeteners will be effective for various purposes which includes weight reduction, weight maintenance, management of diabetes and reduction in the risks associated with obesity, thereby driving the industry growth. Asia Pacific natural sweetener Market is likely to witness a significant gain at over 4.5% during the forecast timeframe. Natural sweetener increases the stability of the products and is also used in milk formulations to increase the bioactive calcium.
Food additives Market from bakery & confectionery application is projected to reach over USD 35 billion by 2024. They are widely used in various bakery & confectionery applications which includes cakes, biscuits & cookies, chocolates, sandwiches, and bread. They enhance the volume and texture of baked goods.
The food emulsifiers market may witness a significant gain at over 4% during the forecast timeline. They are widely used in processing and also to maintain freshness & quality. They can prevent the growth of molds which will happen in case the oil and fat separated in low-fat spreads.
Food additives Market from beverage application is projected to reach over USD 50 billion by 2024. They are widely used in various beverage applications including soft drinks, juices, coffee, and wines.
Asia Pacific food & beverage market was valued at over USD 3.0 trillion in 2016 and may witness gains at over 10%. Food additives derived from natural sources are easily available at minimal cost, which is providing a cost advantage to the manufacturers.