The Food Additives Market is projected to register a CAGR of 55% during the forecast period 2022-2027. ‘Clean labeling’ is no longer a trend but has become a high-rated consumer demand that the global food industry responds to by putting additional emphasis on these aspects while processing a food product. Natural, functional, and convenient products that can deliver nutritional benefits without sacrificing taste continue to tap into major trends driving the healthy beverage market. This rise in demand for clean labels has shifted the focus of manufacturers from synthetic food additives to natural ones. The food additive manufacturers have also adapted the production of clean-label additives that can be helpful while developing clean-label products. Thus, food and beverage manufacturers are also increasingly reformulating their products to meet the changing consumer demand for natural ingredients. For instance, one of the most popular associations promoting the market includes the Natural Food Colors Association. In November 2022, ADM completed its acquisition of South Africa-based flavor distributor, Comhan. This acquisition will strengthen ADM’s reach in the regional market.
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The United States Holds a Major Share of the Food Additives Market
Consumers in the United States are leaning toward healthy food ingredients. The prevalence of obesity and diabetes in the country is forcing consumers to focus on an improved lifestyle. The demand for functional food products due to their fortified, enriched, or enhanced food qualities is increasing in the United States market. Rising demand from various end-user industries in the country, such as processed food, nutraceutical, and consumer goods, is a major factor that is expected to boost the US specialty food ingredient market over the forecast period. In addition, the growing demand for retail foods due to the increasing retail chains in the country may drive the market’s growth in the future. Functional food ingredients are the dominant specialty ingredients used in many applications and are growing rapidly in the US market. In February 2021, International Flavors & Fragrances merged with DuPont’s Nutrition and Biosciences Business. The combined company will continue to operate under the name IFF. The merger solidifies IFF’s place as one of the largest players in the ingredients space.
Recent Innovations in Food Additives Market That Are Definitely for the Better
In June 2022, BASF Aroma Ingredients launched the Virtual Aroma Assistants, a new digital platform, at the World Perfumery Congress 2022 in Miami to simplify the navigation of BASF’s Aroma Ingredients portfolio for customers from the Flavor & Fragrance industry. The Virtual Aroma Assistants are accessible on virtual-aroma-assistants.basf.com. In April 2022, Cargill salt announced that it could invest up to USD 68 billion in expanding ST. Clair Plant. This expansion of the plant can increase the area of the plant up to 50,000 sq. ft and is used for the processing of the salt. In March 2022, Brenntag SE partnered with BASF for the distribution of Baxxodur® amine-based curing agents in North America., a well-established firm in the food additive segment. In February 2022, The Archer Daniels Midland Company completed its acquisition of Comhan, a leading South African flavor distributor.
This report was contributed by knowledge partner:
