North America Food Additives Market Size, Share & Industry Trends Analysis Report By Source (Natural and Synthetic), By Product, By Application, By Country and Growth Forecast, 2021 - 2027
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Market Report Description
The North America Food Additives Market would witness market growth of 4.5% CAGR during the forecast period (2021-2027).
In many types of processed beverages, food additives are employed as antioxidants, anti-foaming, gelling, glazing, and bulking agents, emulsifiers, flavor enhancers, stabilizers, thickeners, sweeteners, and humectants. Additionally, they are usually found in bakeries and confectionery, as well as nutritive products, meat, dairy, and frozen desserts, sauces, and dressings. Moreover, some of the key trends of the market are rising packaged eatable demand for products such as ready-to-eat handy foods, ready-to-eat meals, cake mixes, snacks, and frozen dinners as a result of rising disposable income and changing lifestyles.
Food Additives are used in a variety of food products, including bakery and confectionery, drinks, dairy, and frozen desserts, spices, condiments, sauces and dressings, and others, due to their property-enhancing qualities. The demand for Food Additives is expected to be driven by rising population and food requirements, as well as changing lifestyles and preferences for packaged foods. Furthermore, the increased number of working women around the world is another reason driving up packaged food demand.
Demand for confectionery and beverage goods is predicted to rise in North America as a result of a hectic lifestyle, greater urbanization, and a developing retail and hospitality sector. In the United States, consumers' desire for a plant-based diet and their willingness to pay extra for clean-label items have boosted consumption of natural-ingredient foods and beverages. Ventura Foods, LLC, based in the United States, debuted new plant-based and dairy-free salad dressings under Marie's brand in May 2021. In the United States, the product is likely to appeal to vegans. Similarly, the US Food and Drug Administration (FDA) approved plant-based Epogee oil, namely Esterified Propoxy late Glycerol (EPG) fat replacer, for use in a variety of food applications in June 2020. Moreover, consumers' current preference for low-calorie, low-sugar foods and beverages is consequently encouraging market expansion
The US market dominated the North America Food Additives Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $26,981.1 million by 2027. The Canada market is anticipated to grow at a CAGR of 6.9% during (2021 - 2027). Additionally, The Mexico market would showcase a CAGR of 6% during (2021 - 2027).
Based on Source, the market is segmented into Natural and Synthetic. Based on Product, the market is segmented into Sweeteners, Flavors & Enhancers, Emulsifiers & Shelf-life Stabilizers, Enzymes, Fat Replacers, Prebiotics & Probiotics, Dietary Fibers, and Others. Based on Application, the market is segmented into Bakery & confectionery, Beverages, Convenience Foods, Dairy & Frozen Desserts, Spices, Condiments, Sauces & Dressings, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Food Additives Market is Estimated to reach $135.2 Billion by 2027, at a CAGR of 5.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include BASF SE, Kerry Group PLC, Novozymes A/S, Archer Daniels Midland Company, International Flavors & Fragrances, Inc., Ingredion, Incorporated, Tate & Lyle PLC, Ajinomoto Co. Inc., Chr. Hansen holding A/S, and Cargill Corporation.
Scope of the Study
Market Segments Covered in the Report:
- Flavors & Enhancers
- Emulsifiers & Shelf-life Stabilizers
- Fat Replacers
- Prebiotics & Probiotics
- Dietary Fibers
- Bakery & confectionery
- Convenience Foods
- Dairy & Frozen Desserts
- Spices, Condiments, Sauces & Dressings
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- BASF SE
- Kerry Group PLC
- Novozymes A/S
- Archer Daniels Midland Company
- International Flavors & Fragrances, Inc.
- Ingredion, Incorporated
- Tate & Lyle PLC
- Ajinomoto Co. Inc.
- Chr. Hansen holding A/S
- Cargill Corporation
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