Global Food Additives Market - Growth, Trends, and Forecast (2022 - 2030)
Market Insights
The South America food additive market is anticipated to register a CAGR of 5.8%, during the forecast period (2018-2023).
Market Dynamics
A rapidly rising population and greater levels of urbanization have boosted demand for processed food products in the region, thus driving the demand for food additive in South America. Food ingredient manufacturers are looking at developing markets of the region as a new market space and introducing products the consumers are not aware of. Currently, basic infrastructure facilities, such as food processing infrastructure, transportation, cold chain, and unreliable power supplies are growing, which are boosting the food processing and additives market. However, the several complexities are restricting the growth of food additives market in South America.
Market Segmentation
By type, the acidulants segment is still emerging in the region and is expected to register a CAGR of 7.9%, during the forecast period. The anti-caking agent segment was valued USD 178.7 million in 2015, and can be further segmented into calcium compounds, sodium compounds, and silicon dioxide.
In the emulsifier segment, the South American food additive market is dominated by Brazil, and Argentina while countries, like Chile, Uruguay, Peru, and Colombia lag behind in development. Brazil accounted for a share of 53% of the overall market revenues and Argentina occupied another 33%, in 2016.
By application in the preservatives segment, beverages segment led the market in the region, followed by meat, poultry & sea food products, and bakery.
Regional Analysis
Brazil and Argentina together accounted for major share in the South American food additive market, owing to improved economic stability and thus, increasing demand for processed food products. However, the other South American countries, such as Chile, Peru, Colombia, and Uruguay are also perceived to have better prospects in food additives market. The Brazil food additive market is expected to register a CAGR of 5.2% during the forecast period.
Key Developments
• February 2018 - Sensient Technologies announced its strategic acquisition of Peru based GlobeNatural Company owned natural color business. The step is perceived as an important component of “seed to shelf” strategy in food colors.
Major players - ARCHER DANIELS MIDLAND, CARGILL INC., CORBION PURAC, CP KELCO, DD WILLIAMSON & CO INC., DSM, DUPONT- DANISCO, FIRMENICH, GIVAUDAN, HERMES SWEETENERS LTD., HUBER ENGINEERED MATERIALS, INTERNATIONAL FLAVORS AND FRAGRANCE, KAO CORP, KERRY GROUP, NOVOZYMES, PALSGAARD, RIKEN VITAMIN, ROQUETTE, SENSIENT TECHNOLOGIES, STEVIA FIRST CORPORATION, TATE & LYLE PLC., among others.
Reasons to Purchase this Report
• Analyzing outlook of the market with the recent trends and Porters five forces analysis
• Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
• Market segmentation analysis, including qualitative & quantitative research incorporating the impact of economic & non-economic aspects
• Regional and Country level analysis integrating the demand and supply forces that are influencing the growth of the market
• Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet (in excel)
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs.
The South America food additive market is anticipated to register a CAGR of 5.8%, during the forecast period (2018-2023).
Market Dynamics
A rapidly rising population and greater levels of urbanization have boosted demand for processed food products in the region, thus driving the demand for food additive in South America. Food ingredient manufacturers are looking at developing markets of the region as a new market space and introducing products the consumers are not aware of. Currently, basic infrastructure facilities, such as food processing infrastructure, transportation, cold chain, and unreliable power supplies are growing, which are boosting the food processing and additives market. However, the several complexities are restricting the growth of food additives market in South America.
Market Segmentation
By type, the acidulants segment is still emerging in the region and is expected to register a CAGR of 7.9%, during the forecast period. The anti-caking agent segment was valued USD 178.7 million in 2015, and can be further segmented into calcium compounds, sodium compounds, and silicon dioxide.
In the emulsifier segment, the South American food additive market is dominated by Brazil, and Argentina while countries, like Chile, Uruguay, Peru, and Colombia lag behind in development. Brazil accounted for a share of 53% of the overall market revenues and Argentina occupied another 33%, in 2016.
By application in the preservatives segment, beverages segment led the market in the region, followed by meat, poultry & sea food products, and bakery.
Regional Analysis
Brazil and Argentina together accounted for major share in the South American food additive market, owing to improved economic stability and thus, increasing demand for processed food products. However, the other South American countries, such as Chile, Peru, Colombia, and Uruguay are also perceived to have better prospects in food additives market. The Brazil food additive market is expected to register a CAGR of 5.2% during the forecast period.
Key Developments
• February 2018 - Sensient Technologies announced its strategic acquisition of Peru based GlobeNatural Company owned natural color business. The step is perceived as an important component of “seed to shelf” strategy in food colors.
Major players - ARCHER DANIELS MIDLAND, CARGILL INC., CORBION PURAC, CP KELCO, DD WILLIAMSON & CO INC., DSM, DUPONT- DANISCO, FIRMENICH, GIVAUDAN, HERMES SWEETENERS LTD., HUBER ENGINEERED MATERIALS, INTERNATIONAL FLAVORS AND FRAGRANCE, KAO CORP, KERRY GROUP, NOVOZYMES, PALSGAARD, RIKEN VITAMIN, ROQUETTE, SENSIENT TECHNOLOGIES, STEVIA FIRST CORPORATION, TATE & LYLE PLC., among others.
Reasons to Purchase this Report
• Analyzing outlook of the market with the recent trends and Porters five forces analysis
• Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
• Market segmentation analysis, including qualitative & quantitative research incorporating the impact of economic & non-economic aspects
• Regional and Country level analysis integrating the demand and supply forces that are influencing the growth of the market
• Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet (in excel)
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs.
Frequently Asked Questions
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