Food additives market in India growing at CAGR of 12 pc: Report

The market for food additives in India is expected to witness double digit growth at a CAGR of over 12 per cent during 2015-2020, says a recent report titled “India Food Additives Market Forecast & Opportunities, 2020” published by TechSci Research.
The report evaluates the future growth potential of food additives market and provides statistics and information on market size, share and future growth. The findings are 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.
Growth in per capita disposable income and rising urban middle class population are among the key market contributors for the growth ion food additives. Due to cultural and regional diversities, food consumption patterns differ in various parts of the country; the western region has the highest demand for food additives in the country, the report states. The region is expected to continue to lead the market due to the presence of a large number of food and beverage manufacturing companies in the states of Gujarat and Maharashtra.
“Indian food additives market is dominated by the flavours segment due to their substantial use in beverages, savory 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 India food additives market through 2020,” said Karan Chechi, Research Director withTechSci Research.
The report lists Firmenich Aromatics India Private Limited, Zydus Cadila, Danisco and Adani Wilmer Limited as some of the major food additives suppliers operating in India and Mars, Mondelez, PepsiCo, Inc. and Kraft Foods as among the major food additives consumers in India.
TechSci Research is a global market research and consulting company, which is based in Canada, UK and India with more than 100 client engagements with fortune 500 clients. The company provides market research based consulting solutions to customers worldwide spanning a range of verticals.