Food Additives Market

Market Leaders: Cargill, Incorporated (US), BASF SE (Germany), ADM (US), IFF (US), Kerry Group PLC (Ireland), and Ingredion Incorporated (US) are Increasing Their Respective Market Shares Steadily Through Expansion and New Product Launches in Food Additives Market

The global food additives market size is estimated to be valued at USD 73.4 billion in 2023 and is projected to reach USD 96.3 billion by 2028, recording a CAGR of 5.6% in terms of value. The demand for food additives is on the rise due to surge in demand for food additives propelled by evolving consumer preferences, increased consumption of processed foods, and the desire for extended shelf life. As the food industry innovates to meet diverse needs, the use of additives becomes integral to enhancing flavors, textures, and overall product quality.

Key players operating in this market include Cargill, Incorporated (US), BASF SE (Germany), ADM (US), IFF (US), Kerry Group plc (Ireland), Ingredion Incorporated (US), Tate & Lyle (UK), Givaudan (Switzerland), Darling Ingredients Inc. (US), Chr. Hansen Holding A/S (Denmark), Novozymes (Denmark), Ashland (US), Cp Kelco (US), Glanbia PLC (Ireland), and Sensient Technologies Corporation (US).

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The food additives market portrays a dynamic environment characterized by the swift emergence of start-ups and a concerted effort among major industry players to augment their market shares. This competitiveness is intensified by substantial investments and funding, predominantly emanating from regional entities. Notably, this trend is particularly pronounced in the burgeoning Asian markets, where a spectrum of both established and nascent enterprises significantly contributes to the overall vibrancy of the sector.

Cargill Incorporated is a key player in the food additives market, operating through its Food Ingredients & Applications segment. This sector delivers a range of specialty ingredients, including acidulants, sweeteners, starches, and proteins, influencing taste, appearance, and stability in various industries. With a global presence in approximately 70 countries and additional sales coverage in nearly 125 countries across diverse regions, Cargill addresses the needs of food service operators and producers worldwide.

A recent noteworthy development is Cargill's March 2023 partnership with Barcelona-based food tech company Cubiq Foods. Focused on co-developing plant-based fat ingredients, this collaboration accelerates the commercialization of novel fat technologies. The strategic venture aims to enhance flavor, reduce total fat, and meet consumer expectations in the burgeoning plant-based meat and alternative dairy sectors. This initiative exemplifies Cargill's commitment to innovation and its strategic role in shaping the trajectory of the food additives market.

BASF SE, a global chemical industry leader since 1865, extends its influence into the Food Additives market through its Nutrition and care segment. Specializing in creating ingredients for consumer applications in nutrition, home, and personal care, this segment focuses on manufacturing and marketing food additives. These additives play a crucial role in enhancing the quality, safety, and functionality of a variety of food products.

Operating across six core business segments, including Nutrition & Care, BASF's global reach spans over 90 countries, with significant presence in Europe, North America, and Asia Pacific. In the context of the Food Additives market, BASF's commitment to technological leadership and operational excellence underscores its competitiveness. In FY 2022, Europe constituted 40.2% of the company's revenue, followed by North America (27.9%), Asia Pacific (26.3%), and South America, Africa, and the Middle East (5.6%). BASF's extensive presence positions it as a major player in the Food Additives market, influencing and contributing to the sector's growth globally.

Ingredion Incorporated, a pivotal player in the food additives market, operates globally, providing a diverse range of food additives to industries worldwide. With a substantial history and a presence in North America, South America, Asia Pacific, and EMEA, Ingredion serves over 60 industries in 120+ countries. Categorized into various product segments, including flavors, colors, and stabilizers, Ingredion's offerings significantly contribute to the food additives market, enhancing the quality and functionality of food and beverage products. With 47 manufacturing facilities worldwide, Ingredion generates over half of its revenue from the food industry, emphasizing its substantial impact. The company's commitment to innovation and quality solidifies its position as a major player in the dynamic food additives landscape.

In March 2023, Ingredion introduced FIBERTEX CF 502 and CF 102, innovative citrus fiber texturizers. Derived from citrus peels, these products address the demand for clean-label solutions, enhancing textures sustainably. FIBERTEX aligns with Ingredion's commitment to clean-label solutions, meeting consumer preferences for natural, recognizable ingredients in diverse food applications.

Related Reports:

Food Additives Market by Type (Emulsifiers, Hydrocolloids, Preservatives, Dietary Fibers, Enzymes, Sweeteners, Flavors), Source (Natural, Synthetic), Form, Application (Food, Beverages), Functionality and Region - Global Forecast to 2028

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Food Additives Market Size,  Share & Growth Report
Report Code
FB 1269
RI Published ON
12/19/2023
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