Food Additives Market Highlights the Impact of COVID-19 2020–2024 | Rising Demand for Processed Food to boost Market Growth | Technavio
Technavio has been monitoring the food additives market and it is poised to grow by USD 8.86 billion during 2020–2024, progressing at a CAGR of 4% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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- Which is the leading segment based on application in the market?
- The bakery and confectionery segment is expected to be the leading segment based on application in the global market during the forecast period.
- What is the major trend for market?
- Increasing adoption of organic and natural ingredients is a major growth factor for the market.
- At what rate is the market projected to grow?
- Growing at a CAGR of almost 4%, the incremental growth of the market is anticipated to be USD 8.86 billion.
- Who are the top players in the market?
- Ajinomoto Co. Inc., Archer Daniels Midland Co., BASF SE, Cargill Inc., Chr. Hansen Holding A/S, Givaudan SA, Ingredion Inc., Kerry Group Plc, Koninklijke DSM NV, and Univar Solutions Inc. are some of the major market participants.
- What are the key market drivers and challenges?
- Rising demand for processed food and increasing adoption of organic and natural ingredients are the major factors driving the market. However, stringent regulatory environment will restrain market growth.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Ajinomoto Co. Inc., Archer Daniels Midland Co., BASF SE, Cargill Inc., Chr. Hansen Holding A/S, Givaudan SA, Ingredion Inc., Kerry Group Plc, Koninklijke DSM NV, and Univar Solutions Inc. are some of the major market participants. The rising demand for processed food will offer immense growth opportunities. To make the most of the opportunities, market vendors should focus more on the growth prospects in fast-growing segments, while maintaining their position in the slow-growing segments.
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Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Food Additives Market 2020–2024: Segmentation
Food Additives Market is segmented as below:
- Application
- Bakery and Confectionery
- Beverages
- Convenience Food
- Snacks
- Others
- Product
- Flavors And Enhancers
- Acidulants
- Colorants
- Sweeteners
- Others
- Geography
- North America
- APAC
- Europe
- South America
- MEA
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR43408
Food Additives Market 2020–2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The food additives market report covers the following areas:
- Food Additives Market Size
- Food Additives Market Trends
- Food Additives Market Analysis
This study identifies increasing adoption of organic and natural ingredients as one of the prime reasons driving the food additives market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
