Research Nester has released a report titled “Food Additives Market for Bakeries & Restaurants – Global Demand Analysis & Opportunity Outlook 2027″ which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
The National Restaurant Association in one of its statistics stated that almost 9 in 10 consumers prefer to go to restaurant and that two-third of the consumers believe that restaurant provided flavors which they can’t easily duplicate at home.
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The statistics portray the growing number of consumers who prefer visiting a restaurant owing to several factors, which includes hectic lifestyles of the population, growing number of tourists and increasing preferences for packaged and convenient foods among others. Restaurant owners are increasingly using food additives to enhance the flavor, appearance, texture and aroma of foods. Moreover, numerous people are travelling around the world and are trying out new experiences which include trying food in restaurants which are being offered in different flavors and tastes. Additionally, growing number of individuals with the preference for low calorie foods is also raising the demand amongst food manufacturers to use more amount of food additives in the processing of the foods. Such factors are anticipated to drive the growth of the global food additives market for bakeries & restaurants.
The global market for food additives for bakeries & restaurants is anticipated to grow at a CAGR of 5.21% during the forecast period, i.e. 2020-2028. The market is thriving on the back of the rising consumption of food additives by the bakeries and restaurants and rising number of food outlets across the globe. The market for food additives in bakeries & restaurants was valued at USD 43.94 million in the year 2018 and is anticipated to reach USD 68.45 million by the end of 2027. The market is segmented by end user into bakeries and restaurants. Among these segments, restaurants segment is anticipated to hold the largest market share and reach a market value of USD 46.71 million by the end of 2027 by registering a CAGR of 4.93% over the forecast period. The bakeries segment, on the other hand, is anticipated to grow with the highest CAGR of 5.84% over the forecast period.
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Geographically, the global food additives market for bakeries & restaurants is segmented by five major regions into North America, Europe, Middle East & Africa, Asia-Pacific and Latin America region, out of which, Asia Pacific, which held a market share of 34.30% in the year 2018 is anticipated to hold the largest market share and grow by 1.71x during the assessment period, on the back of rising number of consumers opting for convenient foods, increasing sales of bakery products, rapid growth of fast service food industries and presence of numerous food processing players are some of the factors anticipated to drive the growth of the market in Asia Pacific region in the upcoming years.
However, concerns for the dynamic change in food regulation norms by the governmental regulatory bodies around the globe along with stringent norms for food additives and the concern for allergy reactions occurred due to the consumption of foods prepared with food additives are some of the factors estimated to act as a barrier to the growth of the global food additives market for bakeries & restaurants.
This report also studies existing competitive scenario of some of the key players of the global food additives market for bakeries & restaurants, which includes profiling of Cargill, Incorporated, DuPont de Nemours, Inc., Archer Daniels Midland Company (NYSE: ADM), BASF SE (OTCMKTS: BASFY), Tate & Lyle (OTCMKTS: TATYY) and Ajinomoto Co., Inc. (OTCMKTS: AJINY).
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The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Food Additives Market for Bakeries & Restaurants – Global Demand Analysis & Opportunity Outlook 2027”, analyses the overall food additives industry for bakeries & restaurants to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global food additives market for bakeries & restaurants in the near future.
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