The global food-additives market is expected to reach $29 billion by 2010, according to "Food Additives: A Global Strategic Business Report" from Global Industry Analysts, Inc., San Jose, CA.
Increased globalization, growing health consciousness among consumers, and a higher incidence of away-from-home activities are a boon for food manufacturers, as these factors have led to a demand for a wider range of food products and, by extension, a growing need for food additives.
According to the report, the global food additives market is dominated by Europe, accounting for a share of over 34% of the total market in 2007. Further, the report notes: The 2007 flavors/enhancers market in the United States was $1.6 billion; the U.S. calorie/fat reducers market is expected to grow at a compound annual rate of over 5.5%; the colorants/adjuvants market in Europe is expected to reach $1.25 billion by 2010; and demand for premium food-additive products is expected to increase significantly. Asia-Pacific represents the fastest growing market for food additives, registering a compound annual growth rate of over 5.25% over the period from 2001 to 2010 (projected).
On the flip side, the report foresees challenges for the food industry, including competitive pressures, reduced margins and competition from offshore and emerging markets.
The study provides a comprehensive review of market trends, drivers, challenges, product overviews, players and competition. The report also offers detailed company profiles and enumerates recent developments, mergers, acquisitions and other strategic industry activities. Analysis is presented for established/emerging geographic markets such as the United States, Japan, France, Germany, United Kingdom, Italy, Spain, Asia, the Middle East and Latin America.
