The global food and beverage additive market is flourishing due to a combination of factors. The rising popularity of packaged and processed food, along with the demand for extended shelf life and enhanced taste, drives the market growth. Additionally, consumers' growing interest in health-conscious options is propelling the demand for natural and functional additives. Among all regions, Asia Pacific leads the pack, driven by a surge in disposable income and a burgeoning population in countries like China and India.
NEWARK, Del., June 3, 2024 /PRNewswire/ -- Future Market Insight's new survey estimates that the food and beverage additive market is anticipated to be valued at US$ 65.20 billion in 2024 and is projected to reach US$ 104.79 billion by 2034, witnessing a CAGR of 5.80% from 2024 to 2034.
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The consumption of food additives in the beverage sector is anticipated to remain elevated through 2034 due to the emergent use of artificial and natural sweeteners in various industries.
Food additives are essential for improving the freshness, flavor, texture, and shelf life of food products. The growth of the food and beverage sector is driving the food and beverage additive market, influenced by shifting population eating trends towards packaged food and beverage consumption.
Manufacturers offer additives from various sources, such as plants, animals, or minerals, to meet consumers' evolving needs. New natural preservatives are being developed to preserve the nutritional quality of food.
Packaged food and beverages and the demand for edible products with health benefits are predicted to support the demand for food and beverage additives and sales in food and beverage products during the forthcoming decade.
Consumers demand sensory ingredients and functional ingredients, with sensory ingredients enhancing taste, smell, flavor, and texture, and functional ingredients adding nutritional qualities. The high disposable incomes of people in the United States have increased the production of food and beverage products, leading to the growing consumption of additives.
"The demand for specialty food ingredients is increasing due to their ability to enhance taste, shelf life, texture, and health benefits. The emulsifiers and enzymes industry are predicted to see a steady increase in demand for fat substitutes and food and beverage additives due to rising obesity and heart disease risks. The demand for flavor enhancers and sweeteners is also increasing due to superior taste, increased consumer awareness of low-calorie products, and potential future growth." saysNandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.).
Key Takeaways from the Food and Beverage Additive Market Report
- The F&B additive industry in the United Kingdom is projected to experience a CAGR of 2.2% through 2034.
- Germany's food and beverage additive market is estimated to demonstrate a CAGR of 2.7% through 2034.
- The food and beverage additive industry in the United States is anticipated to see a CAGR of 3.2% from 2024 to 2034.
- China's food and beverage additive sector is projected to showcase a CAGR of 4.3% through 2034.
- The food and beverage additive market in India is anticipated to display a CAGR of 5.3% through 2034.
Competitive Landscape of the Food and Beverage Additive Market
The market is anticipated to develop, especially for fat substitutes, as people become more aware of the risks of obesity and heart disease. Emulsifiers and enzymes are also envisioned to see an increase in demand. The competition in this market is diverse and dynamic, with leading food supplement manufacturers innovating to develop new solutions and stay ahead of the game. They focus on quality, innovation, and meeting customer preferences. Many top food and beverage companies are working to obtain regulatory approval for their products and are using strategies such as acquisitions, partnerships, collaborations, distribution agreements, and mergers to extend their global reach.
Recent Developments in the Food and Beverage Additive Market
- Together with bringing back prior year's Grinch-themed creamers, International Delight and Dr. Seuss Enterprises unveiled a new Grinch-themed product called Peppermint Mocha Zero Sugar Creamer, ready-to-drink Iced Coffee, and on-the-go creamer singles in October 2023.
- Nixie debuted Black Cherry Lime in May 2023 as a new flavor in their USDA organic sparkling waters range. It combines tangy citrus with sweet cherry and lacks calories, sugar, salt, and artificial solvents.
Purchase now and gain full access to the Food and Beverage Additive Industry report, featuring comprehensive Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives.
About The Author:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results. Another feather to her cap manifests in the form of process automation. She is vocal about bringing automation to the fore to bring a 360-degrees-round revolution in manufacturing sector.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor's Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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