Market Trends of Asia-Pacific Food Additives Industry
This section covers the major market trends shaping the APAC Food Additives Market according to our research experts:
Bakery Holds a Great Potential
The population of Asia-Pacific represents diversified tastes and preferences; thus, manufacturers are constantly innovating and widening their product portfolio to meet the dynamic consumer demands. Hectic lifestyles, associated with most urban regions of APAC, present a suitable opportunity for on-the-go breakfast and convenient baked goods. In the booming markets of Asia, indulgence is leading the growth in baked goods and pastries, in particular. Asia-Pacific boasts the highest pastry sales globally and accounts for the majority of global growth within the pastry segment.
China Dominates the Regional Market
Owing to the large population base with a potential consumer market, China remains a lucrative market for food additives in the region. Moreover, the country is experiencing significant development in terms of new product launches and innovations. Major companies are strategizing business expansion in order to increase market penetration and are investing to supplement the production facility in the country. For instance, key players such as Givaudan, Chr Hansen, and Palsgaard own manufacturing units in China.
