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Food additives market to grow at over 12 CAGR by 2020

According to the recently published TechSci Research report, the Indian food additives market to grow at a CAGR over 12 percent during 2015-2020.
Food additives market to grow at over 12 CAGR by 2020

According to the recently published TechSci Research report ’India Food Additives Market Forecast & Opportunities, 2020’, the market for food additives in India is anticipated to witness double digit growth at a CAGR over 12 percent during 2015-2020. Growth in the per capita disposable income and rising urban middle class population are among the key market contributors.

Due to cultural and regional diversities, food consumption pattern varies in the various parts of the country. As a result, western region generates the highest demand for food additives in the country. The region is expected to continue spearheading the market due to the presence of a large number of food and beverage manufacturing companies in the states of Gujarat and Maharashtra.

Firmenich Aromatics India, Zydus Cadila, Danisco and Adani Wilmer are some of the major food additives suppliers operating in India. Global food giants such as Mars, Mondelez, PepsiCo and Kraft Foods have also been supplying their food items and are among the major food additives consumers in India.

"Indian food additives market is dominated by the flavours segment due to their substantial use in beverages, savoury items and cereals. With rising incidences of health problems like diabetes, consumers are also shifting towards all-natural, low calorie sweeteners such as Stevia. As a result, sweeteners are most likely to witness faster growth over the next five years and emerge as the leading segment in Indian food additives market through 2020.", said Karan Chechi, Research Director, TechSci Research, a research based global management consulting firm.

The report has evaluated the future growth potential of food additives market and provides statistics and information on market size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyses the emerging trends along with essential drivers and key challenges prevailing in India Food Additives Market. 

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