North America Food Additives Market

North America Food Additives Market Growth and Forecast (2023 - 2028):

North America Food Additives Market has been estimated at USD 14.95 Billion in 2022 and is projected to reach USD 19.36 Billion by 2028, at a CAGR of 5.30% during the forecast period from 2023 to 2028.

Market Overview:

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.

Drivers and Restraints:

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.

North America Food Additives Market Segmentation Analysis:

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.

Region Analysis:

Geographically the North America Food Additives Market is segmented into US, Canada and Rest of North America. 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.

Key Players in the Market:

Major Key Players in the North America Food Additives Market are

• E.I. DuPont
• Archer Daniels Midland Company
• Cargill, Incorporated
• CHR. Hansen Holding A/S
• Kerry Group Plc
• BASF SE