Food Additives Market to Reach US$38 Billion by 2010, According to New Report
Global Food Additives industry is poised for healthy growth, and is expected to reach US$38 billion by the year 2010. In a world where globalization is the buzzword, movement of people across borders is resulting in a confluence of wide range of tastes at a common place. Catering to these varied kinds of people and their tastes has become an increasing market for food manufacturers, and food processors, leading to an increase in the demand for food additives.
San Jose, CA (PRWEB) June 29, 2007
Food additives market (http://www. strategyr. com/MCP-2070.asp) cater to the requirements of the food industry as well as health conscious consumers. Additives are added to foods to enhance the taste or flavor, to process food, to preserve food, and to add nutrient value, among others. Flavors/Enhancers market (http://www. strategyr. com/MCP-2070.asp) accounts for the largest share of food additives, followed by Calorie/Fat Reducers market (http://www. strategyr. com/MCP-2070.asp). Colorants/Adjuvants market (http://www. strategyr. com/MCP-2070.asp) is projected to offer the highest growth opportunity. Demand for Premium food additive products is expected to increase significantly, owing to the increasing demand for premium additives. Europe continues to be the largest market for food additives with sales estimated in excess of US $9.6 billion in 2007, followed closely by the United States. Collectively the two markets account for more than 60 percent of the global food additives market. The United States however remains the single largest market for food additives. Asia-Pacific and Latin American, which have sales in excess of US $4.2 billion, are also the fastest growing markets for food additives with CAGR of over 5 percent.
"Food Additives: A Global Strategic Business Report" provides a review of the changing tastes in various parts around the world, and the evolution of food additives market to cater to these tastes. The study provides a comprehensive review of market trends, drivers, challenges, product overviews, players and competition. Emphasis is placed on demographic trends, movement of people around the world and the accompanying migration of ethnic tastes, and health consciousness of consumers, among others. The report also offers detailed company profiles and enumerates recent developments, mergers, acquisitions, and other strategic industry activities. Analysis is presented for established/emerging geographic markets such as the United States, Japan, France, Germany, U. K., Italy, Spain, Asia, the Middle East, and Latin America.
Higher incidence of away-from-home activities has resulted in a drastic reduction in the amount of time spent in the kitchen. Use of food additives and the advent of advanced preservative technologies, has rendered large-scale preparation of wholesome food highly cost effective. However, the industry faces challenges such as competitive pressures, reduced margins and competition from offshore and emerging markets. Food and beverages industry, a significant consumer of food additives has increased its purchasing power resulting in reduced margins. Further, food industry is witnessing increased preference for specialty additive products made for specific applications. Another aspect causing concern to additives industry is the severe competition from low-cost products made in China. These developments have forced the additive industry to invest heavily for developing innovative products and penetrate into the Asian market through acquisitions and joint ventures.
Key industry participants reported include Ajinomoto Group, Aqualon, Archer Daniels Midland Company, Associated British Foods Plc., AVEBE, BASF, Cargill Inc., Chr. Hansen Holding, Corn Products International Inc., CP Kelco, Danisco A/S, DSM NV, Edlong Flavors, Firmenich, FMC Biopolymer, GELITA Group, Givaudan SA, Griffith Laboratories, International Flavors & Fragrances Inc., Jungbunzlaue, Kalsec, Inc., Kraft Food Ingredients Corporation, Land O' Lakes Dairy Proteins, McCormick & Company, Inc., Novozymes A/S, NutraSweet, Nutrinova, Orafti Group, Purac America Inc., Quest International, Red Arrow Products Company LLC, Rudolf Wild GmbH & CO. KG, Sensient Technologies Corporation, Sethness Products Co., Sobel N. V., Symrise GmbH & Co. KG, Takasago, Tate & Lyle, TIC Gums Inc., and other regional players.
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