Global food additives market is poised for healthy growth, and is expected to reach US $29 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) March 12, 2008 -- Food additives cater to the requirements of 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. Global food additives market is dominated by Europe, accounting for a share of over 34%, of the total market, estimated for 2007, as stated in a recent report published by Global Industry Analysts, Inc. Flavors/Enhancers market in the United States is estimated at US $1.6 billion for 2007. Calorie/fat reducers market in the United States is expected to grow at a compounded annual rate of over 5.5%. Colorants/adjuvants market in Europe is expected to reach US$1.25 billion by 2010. Demand for Premium food additive products is expected to increase significantly, owing to the increasing demand for premium additives. Asia-Pacific represents the fastest growing market for food additives, registering a CAGR of over 5.25% over the period 2001-2010.
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., 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 and TIC Gums Inc.
"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.
For more details about this research program, please visit
http://www.strategyr.com/Food_Additives_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs more than 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of more than 60,000 smaller research products including company reports, market trend reports and industry reports encompassing all major industries worldwide.
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