Sellbyville, DE -- (SBWire) -- 05/09/2019 --Global Market Insights, Inc. has announced the launch of Food Additives Market, a comprehensive study enumerating the latest price trends and pivotal drivers rendering a positive impact on the industry landscape. Further, the report is inclusive of the competitive terrain of this vertical in addition to the market share analysis and the contribution of the prominent contenders toward the overall industry.
Growing consumer awareness about health consciousness along with supportive government schemes has led to widespread usage of food additives in market. Technology innovation in food industry pertaining to consumer's demand for healthy and organic product options will positively affect market growth.
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Food additives have various applications in bakery and confectionary, beverages, dairy and frozen products, sauce and dressings amongst others. Global frozen desserts market size accounted over USD 10 Billion in 2017 and is predicted to register substantial gain in future period owing to rising trend of outside dining and inclination of young population towards tasty flavors.
Food additives are used to improve the safety and quality along with lengthening the shelf life, keeping it fresh and suitable to consume for longer periods. They help in preventing the growth of fungi, bacteria, and yeasts due to the presence of water in excess quantities leading to product spoilage.
U.S. food additives market demand may exceed USD 23 billion by the end of 2024 owing to favorable government mandates regarding the approval of various substances.
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Artificial flavours and enhancers are likely to register significant gains over 5% by the end of forecast timeframe. Artificial flavors are additives designed to mimic the taste of natural ingredients.
Bakery and confectionery application of food additive market is expected to surpass over USD 35 billion by the end of 2024. They are used in bakery applications including biscuits and cakes, cookies, sandwiches, breads and chocolates, thereby stimulating the market size.
Stevia market demand may exceed USD 610 million by the end of 2024. It develops most of its sweetness from glycosides called stevioside and rebaudioside. Stevia can lower human high blood pressure by 6% to 14%.
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Food additives market from dairy application is expected to gain over 4.5% over forecast period. These products are used in the application of dairy and frozen desserts which includes cheese and milk.
BASF, ADM, Ajinomoto, DuPont and Cargill are the prominent industry participants in food additives market. Strong R&D spending by manufacturers in order to comply with various environmental regulations may improve and expand product portfolio thereby stimulating industry growth.
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Food Additives Market Outlook, Industry Trends, Competitive Analysis, Growth Forecast by 2024
Food Additives Market growth is driven by rising consumer awareness regarding health consciousness along with favourable government initiatives.