Food Additives Market Likely To Augment And Reach USD 41.00 Billion By 2022 – ZMR Blog
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Food Additives Market Likely To Augment And Reach USD 41.00 Billion By 2022

Some of the major players active in the food additives market comprise Tate & Lyle PLC., International Flavors and Fragrances, Kerry Group Plc, CHR Hansen Holding A/S, BASF SE, and Ajinomoto Co Inc. among others. Players operating in food additives market mainly aim on merger and acquirement strategy so as to enhance its market status.

As per analysts at Zion Market Research, the global food additives market was capitalized at almost USD 33.50 Billion in 2016. The food additives market is likely to cross almost USD 41.00 Billion in 2022, developing at a CAGR of almost 3.5% from 2017 to 2022.

Various Efforts By Market Players To Strengthen Their Position Set To Develop The Food Additives Market

As per analysts at Zion Market Research, various efforts by market players to strengthen their position is set to be the major reason for the development of the food additives market. For example, in September 2016, Tate & Lyle started an oat ingredients plant and branched out a KRYSTAR Crystalline Fructose manufacturing at the plant in the United States at Indiana. This launch of the new plant was a major turning point for the development of food additives market. In addition to this, various product launches by the major market players are claimed to be one of the driving factors of the food additives market. For example, in August 2017, Tate & Lyle rolled out CLARIA functional clean instant label starches with 2 new starch products dubbed as CLARIA® Instant 360 and CLARIA® Instant 340. The company claims to have not compromised with texture, taste, and color. These product launches acted as a catalyst for the food additives market.

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High Requirement For Bakery & Confectionery To Suffice The Growth Of Food Additives Market In North America

North America was the biggest area for food additives market in 2016 and is likely to sustain its position in the years to come. The food additives market is majorly boosted by the rising demand from the U.S. for food additives. North America grabbed over 30% share of the global food additives market in 2016. The food additives market in this area is majorly bolstered by high requirement for bakery & confectionery, convenience foods, sauces, and beverage in this area. North America is likely to see a substantial development in the food additives market in the coming years while Europe is likely to exhibit reasonable development in the near future. On the other hand, Asia Pacific is likely to be the quickest developing area for food additives market due to rising demand for natural, healthy, and organic food as well as increasing requirement for altering user preference. Food additives market in Asia Pacific is mainly boosted by rising demand from China and India.

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