NEW YORK, July 22, 2015 /PRNewswire/ -- The rising population of China & the increasing calorie intake per capita is leading to substantial increase in the global food production. Growing urbanization and changing lifestyles are driving demand for convenience and packaged foods. The packaged food industry recorded US $2.4 trillion in retail sales for the year 2014. In the processed and packaged foods, ensuring food safety and quality starting from transportation to farm to fork and storage facilities is a major concern. To meet this demand, food additives are used. Food additives are used to enhance the taste, color, texture of food, same time maintaining the freshness and nutritional content. China's CAGR is expected to grow at a XX% during the forecasted period of 2015-2020.
As economies rise and emerge, food demand will continue to shift towards China in the near future. The increasing disposable incomes of the burgeoning middle class is driving the shift towards convenience and processed foods, thus escalating the need for food, thereby need for food additives. Increasing exposure to packaged food and beverages majorly drives consumers. Growing urbanization of the rural population and rising organized market in rural segments of developing economies of China support this. One more major driver in the food additives market is the growing supply chain complexities/inefficiencies in the food and beverage industry - transportation costs, last mile reach for food products, storage facilities, as a part of companies' expansion strategies are growing, which is increasing the complexities in the farm to fork value chain. This emphasized on the use of food additives to reduce the spoilage and wastage costs. However, the restrain is in the slow urbanization rates in spite of an uptick in demand. Also, as many countries follow the standard regulatory approved additives, thus making the process complex to register to new additives by companies.
In addition, food additives are allowed to be used in China only if they are within the list of allowable food additives announced by the Ministry of Health (MOH); and within the scope of allowed applications and dosage levels; these regulations are restricting the new players from entering the market.
The food additives market is segmented by type viz. Preservatives, Food flavors and Flavor enhancers, Antioxidants, Sweeteners, Emulsifiers, Anti Caking agents, Enzymes, Fat replacers, Acidulants and others (texturizer, shelf life stabilizers, etc). Food Additives find major applications in Fruits & vegetables, Bakery & Confectionary, Dairy & Frozen products, Oils & Fats, Savory snacks, Meat poultry & Seafood products.
Acceptance of convenience and package foods in China is seeing demand, for food and beverage additives. Thus, making China the fastest growing food additives market. The major players in the market are Cargill Inc., Tate & Lyle, Kalsec, Palsgaard, Riken Vitamin, Novozymes, International Flavors and Fragrances, etc. The strategies being adopted in the Food additives industry is in the Innovation category under the development of natural food additives and functional food ingredients to meet the customer demand.
In this report we offer,
1. Market Definition for the specified topic along with identification of key drivers and restraints for the market.
2. Market analysis for the China Food Additives Market, with region specific assessments and competition analysis on a global and regional scale.
3. Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale.
4. Extensively researched competitive landscape section with profiles of major companies along with their share of markets.
5. Identification and analysis of the Macro and Micro factors that affect the China Food Additives Market on both global and regional scale.
6. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
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