December 2024
20 Dec 2022
The global food additive market size was estimated at USD 117.86 billion in 2024 and is expected to surpass around USD 185.99 billion by 2033, poised to grow at a CAGR of 5.20% from 2024 to 2034. The demand for food additive is increasing rapidly due to the rising production of food products.
Food additives are added to processed food and beverages to enhance their appearance and taste. The market for food additive is projected to grow at a significant rate due to the rising consumption of ready-to-use food and beverages worldwide. The tremendous growth of the food and beverage industry is a major factor boosting the demand for food additives. The high demand for packaged and processed foods and drinks in developing and developed nations further drives the market. Major manufacturing companies are focusing on improving their technology to manufacture healthier beverages and food products. The reduction in sugar and fat content will automatically help lower the calories of the products, providing consumers with a healthier alternative. Such determinants will further broaden the scope of this market and maintain the upward trend.
On the basis of product, the sweetness segment dominated the market with the largest revenue share in 2023. The rising awareness of healthy alternatives and increasing health concerns related to cardiovascular and obesity among consumers boost the demand for natural sweetners that contain low calories, thus contributing to segment’s growth.
By source, the natural segment led the market in 2023 due to the growing health concerns among consumers. The demand for natural additives is on the rise as people are becoming more aware of the benefits of natural options over any synthetic additives.
Based on application, the bakery & confectionery segment held the largest share of the market in 2023. This is due to the increasing demand for bakery goods. Food additives help prolong the shelf life of these products.
Rising awareness about the benefits of nutrient-rich foods: There has been a steady rise in consumption of nutrient-rich foods and beverages. People have become conscious of the nutritional value of their food and beverages, leading to a high demand for food additives. This increasing awareness about the benefits of additives plays an important role in driving the market growth. Food additives can enhance the nutritional content and taste of food products.
Increased shelf life: Some food additives reduce the chances of bacteria in food products, improving their shelf life and quality. The importance of food safety and its health repercussions is a growing concern. Ensuring long shelf life through food additives has proved to be a plus for the food additives market's growth.
Demand for healthy food: Growing demand for healthy products and the increased popularity of plant-based products will drive market growth during the forecast period. Growth in the demand for clean labels in various food products and beverages further drive the market growth and provide better opportunities in the future.
Asia Pacific dominated the food additive market with the largest share in 2023. This region has a huge population that is increasingly consuming processed food. Packaged foods, such as snacks, fast food, bakery products, and processed foods, are in high demand in the region. The increasing disposable income in countries like India and China encourages consumers to increase spending on food, thus contributing to regional market expansion.
The market in North America is expected to expand rapidly in the coming years. An increase in incomes and lifestyle changes are driving factors for the prevailing choice of ready-to-cook meals. On the other hand, Europe is likely to witness the fastest growth in the market during the studied period. This is mainly due to the increasing consumption of bakery goods like biscuits or bread.
| Report Attribute | Key Statistics |
| Market Revenue in 2024 | USD 117.86 Billion |
| Market Revenue by 2033 | USD 185.99 Billion |
| CAGR | 5.20% from 2024 to 2033 |
| Quantitative Units | Revenue in USD million/billion, Volume in units |
| Largest Market | North America |
| Base Year | 2023 |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Segments covered in the report
By Product
By Source
By Application
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