Rising awareness regarding nutritious diet along with growing need to impart traditional taste in cuisines are anticipated to accelerate Asia Pacific food additive market size. Widespread urbanization and increasing disposable income in the region are projected to boost food additives market growth by 2024. Changing lifestyles along with growing packaged products consumption accompanied by increasing number of women workforces, which has expanded convenience products market, thus driving food additives demand.
South Korea hydrocolloids industry size is projected to witness gains of over 3% by 2024. These products are added in preparations to control functional properties including gelling and thickening. These are also used as thickening agent and find application in sauces, gravies, salad, soups and dressings, which is projected to fuel food additives demand in forecast timeframe.
Indian processed food industry is projected to surpass USD 130 billion by 2024. Food processing extensively use food additives to give appearance, aroma, flavor, taste and texture, which may boost industry size by 2024.
Asia pacific sweetener market size from is estimated to surpass USD 20 billion at the end of 2024. Major food manufacturers in India and China are increasing usage of the product in frozen desserts, baked products and confectionaries, which is likely to foster food additives industry growth.
Australia preservatives market from meat, poultry and sea edibles application may witness gains of over 2.5% by 2024 owing to extensive usage of these products in frozen meat. These preservatives remove harmful bacteria in meat products including salami, ham and other cured & processed meats and keep them fresh for longer duration. These factors are likely to stimulate food additives demand in the region.
Asia Pacific food additives market share is moderately consolidated with major players operating in the market includes BASF SE, Kerry Group, Archer Daniels Midland Company and Chr Hansen and DuPont
Manufacturers are focused on escalating their business in the regions and developing tactics to increase production competence. Global companies are involved in partnerships and acquisition of regional & local players to open fresh market opportunities.
Segments We Cover:
Food Additives Market statistics, By Product
Food Additives Market Trends, By Application
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