According to a new report, published by KBV research, The Global Food Additives Market size is expected to reach $135.2 billion by 2027, rising at a market growth of 5.2% CAGR during the forecast period.
The Synthetic segment has a growth rate of 8% during (2021 - 2027). Synthetic additives have a lower production cost than natural additions. In addition, synthetic additives reduce the need for high-priced natural raw materials, as well as the costly and time-consuming extraction methods that go with them. As a result, synthetic additives' production methods and cost advantages are projected to promote the growth of this segment in the upcoming years
The Sweeteners segment acquired maximum revenue share in the Global Food Additives Market by Product 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $66.6 billion by 2027, Consumption of fatty meals and foods containing high fructose corn syrup (HFCS) and sucrose, both of which are known as high sweeteners, is predicted to decline as public awareness of obesity and cardiovascular disease grows. This aspect is expected to boost the growth of high-intensity sweeteners like stevia and aspartame, as well as fat substitutes like whey protein and starch. Food and beverage makers are predicted to increase demand for high-intensity sweeteners, flavors, and enhancers, as well as fat replacers, to improve taste without adding salt or sugar. Low-calorie sweeteners are believed to be useful for a variety of purposes, including weight loss, weight maintenance, diabetes management, and the reduction of obesity-related hazards, which is increasing industry demand.
The Convenience Foods segment is showcasing a CAGR of 5.5% during (2021 - 2027). This is because Consumer preferences are projected to change toward convenience foods that save time in food preparation and cleanup as a result of factors such as longer working hours and consequently less time for cooking. Moreover, Ready-to-eat meals, savory snacks, quick noodles, infant formula, and soups are examples of convenience foods.
The Asia Pacific market dominated the Global Food Additives Market by Region 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $49.0 billion by 2027, growing at a CAGR of 5.6 % during the forecast period. The Europe market is expected to witness a CAGR of 4.8% during (2021 - 2027). Additionally, The North America market is expected to witness a CAGR of 4.5% during (2021 - 2027).
Full Report: https://www.kbvresearch.com/food-additives-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of BASF SE, Kerry Group PLC, Novozymes A/S, Archer Daniels Midland Company, International Flavors & Fragrances, Inc., Ingredion, Incorporated, Tate & Lyle PLC, Ajinomoto Co. Inc., Chr. Hansen holding A/S, and Cargill Corporation.
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