Australia Food Additives Market Size

Statistics for the 2023 & 2024 Australia Food Additives market size, created by Mordor Intelligence™ Industry Reports. Australia Food Additives size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Australia Food Additives Industry

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Australia Food Additives Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 2.90 %
Market Concentration Low

Major Players

Australia Food Additives Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Australia Food Additives Market Analysis

The Australian food additives market is valued at USD 2.4 billion and is projected to register a CAGR of 2.9% during the forecast period.

  • The food additives market is primarily driven by the expanding processed food market and the increasing penetration of the organized retail sector. Growing disposable incomes, working population, and busy lives move consumers toward convenience food. However, increasing consumer awareness of chemical additives' adverse impacts is pressuring the food and beverage industry to introduce the natural additives category. The complex regulatory environment is another major restraint in the market.
  • Moreover, the high rate of diabetic patients in the country has led to the growth of alternative sweeteners such as sucralose due to their beneficial factors. As per the Australia Institute of Health and Welfare data, in 2021, an estimated 1 in 20 around 1.3 million Australians were living with diabetes. Various studies have depicted that sucralose has limited to no effect on factors like carbohydrate metabolism and insulin secretion. Moreover, the exceptional stability of sucralose helps food manufacturers and consumers use it virtually anywhere sugar is used, including cooking and baking processes. The sucralose market is expected to grow with the drastic price reduction due to excessive supply from international players. Granulated sucralose sweeteners are used as a spoon for spoon replacement for sugar.

Australia Food Additives Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)