Albany, NY -- (SBWIRE) -- 09/22/2014 -- In its latest research report, Transparency Market Research states, the global food additives market is likely to grow by CAGR of 3.6% from 2013 to 2019. The global food additives market was valued at 28.2 billion in 2011, and is expected to grow USD 36.1 billion in 2018. The report titled, “Food Additives Market (Flavors, Sweeteners, Enzymes, Colorants, Emulsifiers, Shelf-Life Stabilizers and Fat Replacers) - Global Industry Analysis, Size, Share, Trends, Growth and Forecast, 2013 – 2019”, is available for sale on the company’s website.
Browse the full Report at
This sector adds up to be a multibillion dollar industry in the global economy, and will witness a steady growth in the coming five years. The major growth drivers for this industry are, their crucial applications in the fast food items, packaged food, beverages, baked items, and canned food. The natural and nutraceutical food additives is also a growing sector due to increased consumer awareness about food safety, its self-life, and need for food with better and higher nutritional value. The expected growth in the food and beverages industry and the rise in demand for functional food additives is also likely to drive up the market for food additives.
According to 2011 statistics, Europe held the major market share in terms of high demand for food additives at 32%. However, food additives market is all set to grow at CAGR 5% from 2012 to 2018, due to increasing demand from the Asia Pacific markets such as India, China, and South Korea. These figures for North America are likely to go well beyond USD 9.1 billion by 2018. The reasons contributing to this demand will be, need for convenient food items, growing economy, rise in disposable incomes, improving trade scenarios, and emergence of foreign-local joint ventures.
The subsectors for this industry such as flavor enhancers, which specifically cater to the ethnic tastes, traditional aroma of food items, and encourage indulgence, will prove to be a huge market reaching a figure of USD 12 billion by 2018. According to the research report, there is definitely a huge scope for sectors such as fat replacers, enzymes, and shelf life stabilizers to prove their mettle as the industry progresses.
The companies mentioned and studied in absolute detail in the report are Danisco, Givaudan, BASF, and Archer Daniels Midland (ADM). These are some of the key market players who will make a significant contribution to the industry in the coming years.