Food additives and preservatives are necessary for the safe processing of various food items. They are used to improve the taste of certain products or foods. Other additives like sodium benzoate and artificial sweeteners can also be used to improve the taste of popular carbonated beverages or juice. One benefit of food additives is that it can enhance the flavor and appearance of certain foods by changing the molecules within the foodstuff. For instance, when citrus fruit is added to chicken and a sweetener is added to the dish, the flavors will be improved, as it will change the natural taste of the food.
Growing meat consumption is expected to drive growth of the global food additives market. Increasing consumption of meat and related products is expected to drive growth of the global organic beef market during the forecast period. According to the Organisation for Economic Co-operation and Development (OECD), meat consumption in the U.S. reached 50.1 kilograms/capita in 2019, increasing from 25.3 kilograms/capita in 2016. As a matter of fact, a similar trend has been observed in other countries including Argentina, Israel, Brazil, etc. Rising demand for processed meat has led to increased need for food additives, in order to keep the meat fresh and hygienic. Thus, these factors are expected to drive growth of the global food additives market in the near future. Furthermore, growing demand for bakery products is expected to accelerate growth of the global food additives market in the near future.
However, health effects associated with synthetic food additives combined with fluctuating prices of raw materials are expected to hamper the global food additives market in the near future. Besides, the wide functionality of natural additives and changing consumer lifestyles in emerging economies such as India, China, and Indonesia can present lucrative growth opportunities in the global food additives market. Among regions, North America is expected to witness significant growth in the global food additives market. This is owing to increasing demand for confectionery and beverage products across the region. Besides, rising urbanization is expected to boost regional market growth in the near future. Furthermore, Asia Pacific is expected to register a robust growth rate in the near future. This is owing to rising awareness regarding high-nutrition diets and increasing need for ethnic tastes.
Key companies operating in the global food additives market are Ajinomoto Co., Inc., Adani Wilmar Ltd., Archer Daniels Midland Company, Sensient Technologies, BASF SE, Kraft Foods Group, Inc., Bio Springer, Mitsubishi International Food Ingredients, Inc., Cargill Inc., Lonza Group, Eastman Chemical Company, Ingredion Incorporated, and DuPont.
For instance, in May 2019, Lonza Group launched titanium dioxide-free capsule Vcaps Plus White Opal at Vitafoods Europe.
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