United States Food Additives Market is forecasted to grow at a CAGR of 3.76% during the forecast period (2020-2025).
Key Highlights
- The mature markets of North American economies constitute nearly 30% of processed food market. US accounts for more than 65% share in the North American market. With the rising ageing population and health consciousness of consumer, the American consumer id demanding healthier options.
- The market is driven by the extensive use of additives in food & beverage sector for different functioning, such as preservative, flavor enhancer, emulsifier, sweetener, colorant, and many other functions. Also, the rising demand for convenience and packaged foods where additives are used in a higher quantity is further fueling the market growth.
Key Market Trends
Growing Demand for Retail Food
Food retail is a highly competitive industry, in developed countries. Increased number of retailers, retail channels and formats are increasing consumer access to process and convenience foods, further increasing demand for food additives by the food & beverage industry in United States. While providing consumers with competitive price, quality and services, organized retail sector exposes consumer to label information, and quality comparison with both private labels and branded products is boosting the retail food market in United States.
Growing Demand for Sugar Substitutes
Sugar substitutes are food additives that are used to duplicate the effect of sugar in taste, usually with less food energy. The majority of sugar substitutes approved for food use are artificially-synthesized compounds. However, some bulk natural sugar substitutes are known, including sorbitol and xylitol, which are found in berries, fruit, vegetables, and mushrooms. Sugar substitutes like stevia, aspartame, sucralose, neotame, acesulfame potassium, and saccharin. are approved by USDA and are categorized under GRAS in the North American region.
Competitive Landscape
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. Some of the major market players in the united states food additives market are Cargill, Incorporated, Kerry Inc., Corbion NV, Tate & Lyle, Archer Daniels Midland Company among others.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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