Food additives derived from natural sources are readily available at low cost, giving manufacturers a cost advantage. Furthermore, when compared to artificial sources, these products require less processing and provide nutritional benefits. In APAC, packaged products account for more than 15% of bakery sales and 23% of dairy and confectionery sales. Increasing consumer awareness about the benefits of food additives, particularly in bakery and confectionery, dairy, and meat products, is expected to drive food additives market trends. The rapid advancement of technology in the industry in response to consumer demand for healthy and organic food options will have a positive impact on market growth. In 2016, the Asia Pacific food and beverage market was valued at more than USD 3.0 trillion, and it is expected to grow by more than 10% in 2017.
The growth of naturally produced food additives is expected to be one of the market's growth drivers. Food and beverage authorities in many countries closely monitor the use of food additives, and it must be clearly stated on packaged food products for consumer information. This may limit the growth of the food additives market. Food additives are used to protect food from harmful bacteria and microorganisms and to extend the shelf life of food products. The increased availability of new and innovative products in the market from manufacturers is expected to drive growth in the Food Additives Market. Food additives are also used to preserve fruit beverages and keep them tasting the same throughout their shelf life. The global food additive market is expected to expand rapidly.
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