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Food Additives Market Share, Size, Key Players, Research and Forecasts to 2024 | Hexa Research
“The global food additives market is anticipated to reach USD 56 billion by 2024. Rapid growth in the food & beverage industry.�
The global food additives market is anticipated to reach USD 56 billion by 2024. Rapid growth in the food & beverage industry in the Middle East and BRICS (Brazil, Russia, India, China, and South Africa) -as a result of growing domestic consumption and rising foreign direct investments-is projected to augment the market growth. Increasing awareness about different types of tastes is also likely to act as an important growth driving factor. In addition, manufacturers are increasing their production capacities due to rising demands for packaged foods including ready-to-eat products, frozen meals etc. which will eventually therefore augment the market growth. The global market is categorized as products and regions. Consumers are now turning away from artificial / synthetic additives towards more na tural additives which have a huge impact on food colors and flavors sector of the industry. Growing consumer demand for foods and drinks which can assist in maintaining the health levels are fulfilled by functional foods that accounts for lower levels of sugar, salt and saturated fat is to drive the demand for the industry. WHO and many other governments are concerned about the rising levels of obesity which have opened up the opportunities for suppliers to develop replacements are expected to increase its importance over the forecast period. Another major driver for these products is rapid urbanization, changing lifestyle and increasing disposable income of middle class which lead to the expansion of convenience and processed industry in emerging
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