Wood-derived Food Additives Market Observational Studies by Top Companies & Forecast by 2027
Market Overview
Wood-derived food additives are
ingredients, which are primarily used to preserve flavor, taste, and other
sensory food qualities. Additionally, these additives help in extending the
product shelf-life. Wood-derived food additives such as fibrillated cellulose,
lignin, xylan, vanillin, and CMC serves an essential role in the manufacturing
of packaged and convenience food.
Market Forecast
The global wood-derived food
additives market is increasing due to increased demand from the foods and
beverages industry. Growing health concerns among the global population
together with the increasing awareness about the benefits of consuming food
additives are the key driving factors for the growth of the market. In addition
to the changing lifestyle, the growing demand for foods, beverages,
confectionery, and other food products is expected to drive the global wood-derived
food additives market.
Moreover, the health-conscious
consumers, nowadays, precisely look for the product labels to know the exact
composition of packaged foods before purchasing, which has a direct impact on
the manufacturers to switch for natural food additives in the packaged foods.
However, product intolerance caused due to excessive consumption of
wood-derived additives used in food products may hinder the market growth over
the forecast period. Nevertheless, all these factors are projected to
contribute to the estimated CAGR of 4.3% of the market during the forecast
period 2017-2023.
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Downstream analysis
The global wood-derived food
additives market is segmented into type, function, and application.
On the basis of the type, it is
segmented into fibrillated cellulose, lignin, xylan, vanillin, carboxymethyl
cellulose, xylitol, and others. Among all, the fibrillated cellulose segment is
dominating the market followed by carboxymethyl cellulose.
On the basis of the function, it is
segmented into thickening agent, gelling agent, emulsifying agent, texture
enhancer, sweetener, and others. Among all, the sweeteners segment holds the
major market share.
On the basis of the application, it
is segmented into bakery & confectionery, beverages, sweet & savory
snacks, dairy & frozen desserts, and others. Among all, the bakery &
confectionery segment is dominating the market.
Competitive analysis
The major players in the wood-derived
food additives market
- BASF
SE (Germany)
- Cargill
Inc. (U.S.)
- Archer-Daniels-Midland
Company (U.S.)
- Kerry
Group Plc. (Ireland)
- I.
du Pont de Nemours and Company (U.S.)
- Evonik
Industries AG (Germany)
- Tate
& Lyle Plc. (U.K)
- Kerry
Group Plc. (Ireland)
- CP
Kelco U.S., Inc. (U.S.)
- Ingredion
Incorporated (U.S.)
Regional Analysis
The global wood-derived food
additives market is segmented into North America, Europe, Asia Pacific, and
rest of the world (RoW). The North American region is dominating the
wood-derived food additives market followed by Europe. In the U.S.,
wood-derived food additives are used in large quantity for preservation, flavor
enhancement & texture of food & beverage products. Additionally, high
demand for natural food additives from the consumers is considered to be a key
driving factor in this region.
Moreover, increasing consumer
awareness and demand for convenience food has uplifted the demand for
wood-derived food additives in the European countries like the U.K, Germany,
and France, which is anticipated to boost the growth of the wood-derived food
additives market during the review period.
Market Segmentation
Wood-derived food additives market is
segmented on the basis of type, function, application, and region.
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