NEW YORK, July 21, 2015 /PRNewswire/ -- The global population is growing at a rate of 1.14% and 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. In the processed and packaged foods, ensuring food safety and quality; from transportation to storage throughout farm to fork value chain is a major concern. To meet this demand, food additives are used. Food additives which are used to enhance the taste, color, texture of food, same time maintaining the freshness and nutritional content, are expected to cross more than US$ 13 billion by 2020 by value in North America, with an estimated CAGR of 5.2%.
The mature markets of North American economies constitute nearly 30% of processed food market. This, in spite of population growth rate not exceeding the growth rates of developing countries. The North American retail and food service market which grossed sales of US $1 billion in 2013 is a major driver for the food additives market driven majorly by increased consumer's exposure to packaged food and beverages. Another 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. A key restrain in the market is rising awareness on the ill effects of synthetic additives and the complex US regulatory structure. Several of food additives banned outside North America are approved by US FDA.
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). The largest segment is Flavors and flavor enhancers market followed by Hydrocolloids which function as texturizer, thickening, stabilizing and gelling agents. The fastest growing segment is the Sweetener type which is seen as an alternative to sugar used in food and beverages. Growing consumer demand for low fat options and low wastage costs is expected to drive the demand for Fat replacers. Food Additives find major applications in Bakery & Confectionary, Dairy & Frozen products, Oils & Fats, Savory snacks, Meat poultry & Sea food products, Beverages and others.
The world is recovering from recession and this is expected to increase the consumer demand for packaged food; which in-turn furthers the food additives industry. The US market is seeing demand for candies, gums and other confectionary products, apart from its 'matured' demand for baked foods, further increasing the market for emulsifiers, colorants and sweeteners in the US region. Growing consumer awareness on the natural additives and functional food additives due to their nutritional functionalities is also driving the market.
The major players in the market are Cargill, Tate & Lyle, Palsgaard, DuPont, DSM, Givaudan, Brenntag, 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. Another major opportunity is in the functional food additives and natural additives market with demand for Omega 3, vitamins, fiber and antioxidants enriched foods. In US, natural color additives are reducing the share of synthetic colors. In the sweetener market the Stevia extracts are used as natural additives. Companies need to undertake 'clean label' solutions to meet the safety standards to cater to the changing preferences of Americans. The FAO/WHO committee along with CODEX determines the acceptable standards of food additives to be used. However, General standard for Food Additives (GSFA) chaired by China needs a wider acceptance for improved International Trade.
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 North America 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 North America 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.
Why should you buy this report?
1 For getting a comprehensive overview of the North America Food Additives Market.
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