Latest News- Food Additives Market: Bakery and confectionery is expected to lead the Application segment during 2024-2028

The Food Additives Market is being driven by Rising demand for processed food

The Food Additives Market is expected to grow at a CAGR of 4.84% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 14327.5 million. In the dynamic food industry, wastage of perishable products results in significant financial losses for retailers and manufacturers. To mitigate this issue, food packaging vendors have innovatively introduced active packaging solutions. These advanced packaging systems maintain product quality for extended periods, thereby ensuring an enhanced shelf life for food items. The preservation of flavor and freshness is crucial for consumer satisfaction, particularly in international markets where the demand for extended product durability is high. However, in Europe, consumer preferences lean towards fresh, minimally processed foods with no artificial additives. Consequently, the global food additives market is witnessing a trend towards the adoption of active packaging technologies to cater to both the demand for extended shelf life and the preference for natural food products. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Bakery and confectionery
  • Beverages
  • Convenience food
  • Snacks
  • Others
• Product
  • Flavors and enhancers
  • Acidulants
  • Colorants
  • Sweeteners
  • Others
• Function
  • Emulsifying
  • Stabilizing
  • Thickening
  • Binding
  • Preserving
  • Coloring
  • Sweetening
  • Flavor Enhancing
• Source
  • Natural
  • Synthetic
• Form
  • Dry
  • Liquid
• Geography
  • North America
    • US
    • Canada
  • APAC
    • China
    • India
    • Japan
  • Europe
    • France
    • Germany
    • Italy
    • UK
  • South America
    • Argentina
    • Brazil
  • Middle East and Africa
    • Egypt
    • KSA
    • Oman
    • UAE

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rising demand for processed food
• Increasing complexities in food supply chain
• Growing demand for home food preservation

However, the market also witnesses some limitations, which are as follows:

• Growing demand for fresh foods
• Side effects of food additives
• Stringent regulatory environment

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Market Scope in Food Additives Market Research Report

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Research Analysis Overview

The Food Additives Market is experiencing significant growth due to the increasing demand for clean labeling, healthy food options, and consumer preference for natural and functional ingredients. Food companies are focusing on using additives that provide color delivery, multifunctionality, and improved sensory attributes, such as flavor, texture, and visual attributes. Micro-encapsulation techniques are being widely used to enhance the functionality of additives like antioxidants, vitamins, acidulates, and fat replacers. The Food Administrative Organization plays a crucial role in regulating the use of food additives to ensure their safety and labeling compliance. The consumption of food additives is on the rise in various sectors, including breweries, bakeries, and E-retail. Disposable incomes and changing demographics are creating new business opportunities in the market. Functional ingredients, such as specialty food ingredients, are gaining popularity due to their health benefits. The market for food additives is diverse, with applications ranging from bakery and confectionery to beverages and savory foods. The demand for additives that improve taste, texture, and shelf life is driving the market growth. Consumers are increasingly seeking natural and clean labeling options, creating opportunities for food companies to innovate and differentiate their products.

Market Research Overview

The global specialty chemicals market encompasses businesses specializing in high-value-add chemicals used in the production of various industries' high-performance products, including fine chemicals, additives, advanced polymers, adhesives, sealants, specialty paints, pigments, and coatings. According to Technavio's market analysis, the specialty chemicals market size is determined by the consolidated revenue generated by manufacturers focusing on high-value-added chemicals. Key growth drivers for this market include the increasing preference for specialty adhesives and sealants, with expanding demand in various end-use sectors.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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