According to the report “Middle-East and Africa Food Additives Market”, published by Market Data Forecast, the MENA Food Additives market has been estimated at $3.24 Billion in 2016 and is projected to reach $4.25 Billion by 2021, at a CAGR of 5.57% during the forecast period from 2016 to 2021. Food additives are ingredients which are added to the end food products to enhance the taste and appearance. They used for imparting specific desired properties to food products, enhancing food palatability in terms of food appearance & appeal.
Food additive is incorporated in a finished product to improve protection against harmful bacteria and other kinds of harmful microbes to prolong shelf life. It also increases its nutritional content and imparts characteristics such as flavor, color, and taste in foodstuff.
The market for food additives is mainly driven due to rising population, growing demand for food, need for food preservation, growing concerns towards food safety due to contamination,
rising health concerns, consumer demand for better quality, and increasing consumption of premium food products. But, the market growth can be constrained due to stringent regulations by the food administration bodies regarding the amount of usage and safety of the contents.
MENA 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.
The Food Additives market in the MENA region is projected to grow at the highest CAGR, which is greatly influenced by consumer preferences for healthy eating, trend towards natural & organic foods in the emerging economies. This is leading to high penetration of global key market players to enter into the region as they see a great potential for profits and opportunities in this region.
The key players in this market are E.I. DuPont, Kerry Group Plc, BASF SE, Cargill, Incorporated, CHR. Hansen Holding A/S, and Archer Daniels Midland Company