Market Size of Australia Food Additives Industry
| 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
*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.
