Global Organic Food Additives Market Overview:
The vitamins & minerals, antioxidants, acidulants, food coloring agents, emulsifiers, sweeteners, thickeners, and stabilizers are generally termed as food additives. The food additives help to preserve quality and enhance the taste of processed food. However, synthetic food additives may have few effects on the skin as well as the overall health of people. Thus, the demand for organic or plant or animal-based additives is growing. In order to cater to this demand, the key players are trying to offer products based on organic food additives. This trend is fueling growth of the global organic food additives market. Thanks to this factor, the Organic Food Additives Market Share is projected to grow at a significant rate of 5.9% from 2020 to 2030 to reach a market value of USD 101.22 Billion by the end of 2030.
The increase in the pool of health-conscious people, who prefer organic foods and beverages over traditional additives in baked and processed foods is catalyzing growth of the global organic food additives market. The huge demand for baked products, frozen foods, and confectionery items globally are fueling market growth. Further, the increasing consumer inclination is increasingly for read-to-cook and ready-to-eat foods for saving time in their busy schedules. The trend of gifting confectionaries is augmenting its demand and is likely to boost growth of the global organic food additives market.
Further, several food additives are certified and accepted by the government, and other governmental bodies are fueling growth of the market. These bodies identify safer additives to be used in the food and beverages before certifying it. This factor is driving growth of the global organic food additives market. Moreover, an increase in per capita income, especially in emerging countries, is augmenting demand for baked and processed food, which is further providing traction for the growth of the global organic food additives market.
Competitive Analysis:
Some of the key players in the global organic food additives market include E.I. du Pont de Nemours and Company, Cargill Inc., Archer Daniels Midland Company, Chr. Hansen Holding A/S, BASF SE, Kerry Group Plc, Novozymes A/S, Danisco A/S, Tate & Lyle, Givaudan, Firmenich SA, Brenntag AG, Associated British Foods plc, Foodchem International Corporation, and International Flavors & Fragrances Inc.
Segmentation:
The organic food additives market is segmented based on form, type, application, and region.
By form, the organic food additives market is categorized into dry and liquid.
By application, the organic food additives market is segmented into bakery & confectionery, dairy & frozen dessert, beverages, sweet & savory snacks, sauces & dressings, soups, and others.
By type, the organic food additives market is segmented into acidulants, colorants, vitamins & minerals, hydrocolloids, flavors & sweeteners, enzymes, and others.
Regional Analysis:
Based on the region, the organic food additives market is segmented into Europe, North America, Asia-Pacific and the Rest of the World. Of these, North America is estimated to dominate the global Organic Food Additives Market Trends owing to increasing consumer awareness about the benefits of consuming organic and natural food additives. Additionally, the widening use of organic food additives in bakery and confectionaries is driving growth of the market in the region.
However, Asia Pacific is estimated to expand by exhibiting healthy CAGR in the coming years owing to growing inclination toward the use of organic additives to food and beverages and especially in the bakery products. This trend in the region is estimated to be a key factor fueling growth of the global organic food additives market in the coming future. Further, increasing disposable income in the region is boosting demand for processed food; however, the rising awareness about the consumption of natural additives is augmenting the use of organic food additives and in turn, market growth.
Industry News:
August 2019, Impossible Foods announced its partnership with Burger King to offer plant-based Whoppers. The company cleared a big regulatory hurdle from the U.S. Food and Drugs Administration (FDA) by getting soy leghemoglobin approved as an additive. These newer approvals by the FDA are estimated to widen their application and benefit the growth of the market in the estimated timeframe.
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