Market Size of India Food Additives Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 6.50 % |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
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India Food Additives Market Analysis
India's food additives market is anticipated to register a CAGR of 6.5% during the forecast period.
- The multifunctionality of additives such as starches and hydrocolloids is driving the demand for food additives in the market. These additives are used in various segments of the food manufacturing process, from structuring food and beverage to enhancing nutrition profile and flavor, which makes them highly desirable for food companies.
- Food additives play a crucial role in improving the taste and aroma of food, preserving it, increasing its shelf life, and coloring it. Synthetic or natural food additives are added to food to enhance its taste, texture, or appearance. The demand for convenience and processed food is also a significant driver of market demand.
- Food color is an essential factor as it affects how food is perceived and tasted. Colorants are added to food and beverages to create an attractive appearance. They can also enhance the color of foods that may have deteriorated due to food processing, making them more desirable to consumers.
- To establish common safety standards, various organizations such as the Food and Drug Administration (FDA) and the World Health Organization (WHO) have introduced General Standard for Food Additives (GSFA), thus increasing the popularity of food additives in the country.
- India is the largest milk producer in the world, and the demand for flavored milk, recombined milk made from milk powder, and chocolate milk drive the demand for additives such as food flavors in the dairy industry. Additionally, additives such as emulsifiers, especially E4701, which is a derivative of a mono diglyceride, are used in the ice cream industry to provide functional properties such as viscosity, stability, and fat reduction.