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(MoneyNewsWire.Net, October 26, 2017 ) The North America Food Additives market has been estimated at USD 13.37 Billion in 2016 and is projected to reach USD 17.30 Billion by 2021, at a CAGR of 5.30% during the forecast period from 2016 to 2021. Food additive is incorporated in a finished product to improve protection against harmful bacteria and other kinds of microbes to prolong shelf life. It also imparts characteristics such as flavor, color, and taste in foodstuff and increase its nutritional content.
The market for Food additives in North America is mainly driven due to growing demand for packaged products including ready-to-eat meals, appetizers and frozen meals, which is resulting in manufacturers increasing their production capacity. But, the market growth is regulated due to U.S. regulatory providing stringent laws to determine the safe additives, and also on the amount of consumption and quality on the food grade used in the additives.
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North America market for Food Additives is segmented based on type, source and application. By type, the market is further sub-segmented into Acidulants, Anti-caking agents, Colors, Emulsifiers, Enzymes, Flavors, Hydrocolloids, Preservatives, Sweeteners. By Source, the market is further sub-segmented into Natural and Synthetic. By Application, the market is further sub-segmented into Bakery & confectionery, Beverages, Convenience foods, Dairy & frozen desserts, Spices & condiments, sauces & dressings. The flavors segment accounts for the largest market share followed by the sweeteners segment in the market by type. The demand for food additives in beverages accounted for the largest share, while the sauces, dressings, spices, condiments segment is projected to be the fastest-growing segments.
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Geographically, North America market for Food Additives is segmented into U.S. and Canada. North America is the biggest market in terms of market share across the globe. North America has increased distribution and transportation of food products which requires high usage of food additives, thus, furthering the increase of trade for food additives.
E.I. DuPont , Archer Daniels Midland Company, Cargill, Incorporated, CHR. Hansen Holding A/S, Kerry Group Plc, and BASF SE are the major players of North America Food Additives market.
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