Increased consumption of processed foods due to change
Seoul, South Korea, Aug. 15, 2022 (GLOBE NEWSWIRE) — According to Fact.MR, a market research and competitive intelligence provider, the global sensory additives market is estimated to reach US$23.4 billion in 2022 and is expected to grow at a CAGR of 4.4% over the forecast period from 2022 to 2032.
Due to the pandemic, consumers’ relationship with food has changed a lot. With fewer dining options, social networking sites have emerged as a safe alternative to satisfy their food cravings. Cooking shows, food influencers, and food bloggers have started an impressive trend in food presentation. As a major ingredient in enhancing the appearance and flavor of food, sensory additives have made significant gains in the global market.
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The ultra-processed food or processed food sector makes heavy use of sensory additives to enhance the flavor and appearance of the product. Nowadays, people are experimenting with different cuisines and food products as they become familiar with various products available in the world, which adds a positive impact on the sensory additives market. Also, their wide range of applications in the food industry to meet growing consumer demands is a major driver for market growth.
Additionally, the use of natural flavors and colors has grown significantly with the use of convenience foods such as baked goods, convenience foods, etc. Millennials are more fond of sweets and snacks, and thus, the market for natural flavors and colors is expected to grow significantly over the next few years.
How can market growth be hindered to some extent?
“Emerging Safety and Health Risks of Processed Foods”
Sensory additives do not add any nutritional value to food products. They are commonly used to enhance the natural properties of the chemical found in food. Rising awareness across the globe about the safety and health risks associated with the use of sensory additives in processed foods might hamper the market growth to some extent.
Sensory additives containing artificial flavors are thought to cause lung disease. Sensory additives must pass several toxicity tests at regional regulatory bodies before being approved for use.
Currently, nine dyes are in common use in the United States which have been shown to be harmful in one way or another, either by producing carcinogenicity, genotoxicity, or hypersensitivity. This acts as a potential threat to the growth of the sensory additives market; however, the major players are offering robust solutions to overcome these constraints and seize the available opportunities.
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Key segments covered by the Sensory additives Industry survey
- By product type:
- Flavors (excluding sweeteners)
- By nature :
- By solubility:
- water soluble
- oil soluble
- By end-use industry:
- Food industry
- Food industry
- Pastry shop
- Seasonings, sauces and condiments industry
- The beverage industry
- Animal feed industry
- Livestock feed industry
- pet food industry
- Food industry
With the growing awareness of the harmful effects of the use of artificial and synthetic ingredients in all industries, including sensory additives, the demand for natural sensory additives is expected to grow steadily over the next few years. This creates a huge opportunity for players in the food, feed and beverage industry to gain a strong foothold in the market by incorporating more natural and sustainable sensory additive products into their portfolios.
However, in addition to consumer health awareness leading to increased sales of natural products across all sectors, including sensory additives, increased demand for clean label products such as artificial coloring, made from real or natural ingredients, etc. ., is also boosting the market for natural sensory additives.
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The key players in the Sensory additives Market
- CHR Hansen Holding A/S
- Sensient Technologies Corporation
- Archer Daniels Midland Company
Main takeaways from Sensory additives Market research
- The global sensory additives market is expected to grow at a CAGR of 4.4% and be valued at US$36 billion by 2032.
- The market grew at a CAGR of 3.7% from 2017 to 2021.
- By product type, texturizers dominate the market and are currently valued at US$11.8 billion.
- Europe led the global market with 28.1% share in 2021.
- Depending on the region, the demand for sensory additives is expected to grow at CAGRs of 28.1% and 24.6% in Europe and North America, respectively.
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