Market Overview
Food additives are substances used to preserve the flavor, maintain the taste, as well as other qualities. Organic food additives are the natural additives which serve as a better alternative to food additives as it offers extra nutrients such as minerals, vitamins, phytonutrients, and others. These preservatives also help in reducing the spoilage from air, bacteria, fungi, and yeast. Changing lifestyle and consumer’s preference towards ready to eat food, packaged foods and frozen foods are key drivers for the market. These additives are observing a high demand because of its nutritional as well as extra micro nutritional attributes. Growing health concerns among a sizeable global population, together with increasing awareness about the benefits of consuming organic foods are most likely to foster the demand for organic food additives. Health-conscious consumers nowadays, precisely check product labels to know the exact composition of packaged foods before purchasing. Organic food labelling is currently an increasing trend among manufacturers.
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Market Forecast
The global organic food additives market is increasing due to food and beverages industry. With the growing consumer awareness and their increasing interest in healthy lifestyle, the demand for organic food additives has increased recently. In addition to the changing lifestyle, the growing demand for natural and dietary food, beverages, confectionery, and others is expected to drive the organic food additives market. The global organic food additives market is projected to be propelled by the increasing awareness regarding available health benefits from the organic food additives. Increased awareness about the organic food additives has raised the bar for quality, which, in turn, increase the market share of organic food additives globally. Mass market penetration is leading to the introduction of new products based out of organic food additives and their retail across various regions. The market players are responding to these new opportunities by expanding their service offerings/product lines, which has fueled up the share of organic food additives in the global market. High nutritional benefits obtained from organic food additives are also supporting the sale of organic food additives globally. Additionally, the enhancement of the product development coupled with technological advancements is considered to be one of the significant reasons for the increasing growth of the organic food additives market during the forecast period 2017-2023.
Downstream Market Analysis
Globalization and urbanization are major driving factors of this market. Furthermore, the popularity of organic food additives and involvement of nutritional attributes as well as extra micronutrients are also encouraging the growth of the organic food additives market. Rising demand for organic products is expected to play a significant role in the growth of the global organic food additives market during the forecast period. Additionally, the enhancement of the product development coupled with the technological advancements is considered to be one of the significant reasons that will increase the growth of the organic food additives market over the review period of 2017-2023.
Competitive Analysis
Some of the Key Players in the Global Organic Food Additives Market are
DuPont (U.S)
Archer Daniels Midland Company (U.S.)
Cargill (U.S.)
Hansen Holding A/S (Denmark)
Kerry Group Plc (Ireland)
BASF SE (Germany)
Novozymes (Denmark)
The Demand for Organic Food Additives has pushed manufacturers to innovate and develop the new product lines, which provide better taste and offers various health benefits.
Regional Analysis
The Global Organic Food Additives Market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). Among these, the North American region accounts for major market share followed by Europe and Asia Pacific. Growing demand for organic food additives in Asia Pacific will drive the growth of the market in this region in the forecasting period. Changing consumer preferences for natural, dietary, and healthy products will support the sale of organic food additives in various regions over the forecast period. North America dominates this market and is likely to witness a downward trend for Organic Food Additives Market. However, Asia Pacific region is estimated to witness a maximum growth in the Global Organic Food Additives Market over the forecast period 2017-2023.
Market Segmentation
The Global Organic Food Additives Market is segmented by product type, nutrients, packaging, application, and region.
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