Wood-Derived Food Additives Market Growth Opportunity, Size, Share, Competitive Landscape, Forecast to 2023
Wood-derived food additives are substances used to preserve the flavor, maintain the taste as well as other olfactory properties of foods & beverages. They are mostly used for gelling, stabilizing, thickening, coating, and emulsifying purposes. Also, these additives help in extending the shelf-life and enhancing the stability of food and beverage products.
The shifting inclination of consumers towards convenience, packaged, and frozen foods has surged the demand for nutritive ingredients such as wood-derived food additives in the foods & beverages industry. Wood-derived food additives such as fibrillated cellulose, lignin, xylan, vanillin, and CMC have a wide range of product applicability such as dairy and frozen desserts, bakery and confectionary, snacks, beverages, and many others. Additionally, growing demand for natural gelling-agent, thickeners, and stabilizers in the foods and beverages industry is projected to drive the growth of the wood-derived food additives market over the review period.
Furthermore, the increasing consumption of yogurt, meat & poultry, and frozen products are likely to contribute to the growth of global wood-derived food additives market. Also, the growing consumption of fruit and vegetable juices is adding fuel to the growth of the wood-derived food additives market. However, the product intolerance and toxicity caused due to excessive consumption of wood-derived food additives used in the food products may hinder the market growth over the forecast period.
Major Key Players:
Some of the key players profiled in the global wood-derived food additives market: BASF SE (Germany), Cargill Inc. (U.S.), Archer-Daniels-Midland Company (U.S.), Kerry Group Plc. (Ireland), E. 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.), and Ingredion Incorporated (U.S.)
Demand for wood-derived food additives is increasing with the increasing foods and beverages industry
Naturally derived food additives have a massive opportunity in the processed food industry
The global wood-derived food additives market is segmented into type, function, and application.
Based on 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 owing to its higher use in the food & beverage products as a thickening and stabilizing agent.
Based on 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. However, the rising demand for low-fat alternatives in the processed foods and beverages is likely to surge the demand for emulsifying, and thickening agents over the review period.
Based on 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 owing to the high use of wood-derived food additives in the bakery products for product stability and increased shelf-life.
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The global wood-derived food additives market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). North America is dominating the wood-derived food additives market followed by Europe. The U.S. registered for a higher consumption of wood-derived food additives owing to increasing awareness regarding food additives. Additionally, consumption of healthy food & beverage products with enhanced texture & flavor is the key driving factor in this region.
Growing consumer awareness regarding natural food additives and functional food additives and their nutritional functionalities is driving the growth of the wood-derived food additives market in the North American region. Furthermore, increasing demand for wood-derived food additives in convenience food products in the European countries like the U.K, Germany, and France are likely to boost the growth of the wood-derived food additives market during the assessment period.
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