China Food Additives Market - Growth, Trends and Forecasts (2018 - 2023)
The rising population of China & the increasing per capita calorie intake is leading to substantial increase in the Chinese food production. Growing urbanization and changing lifestyles are driving demand for convenience and packaged foods. The packaged food industry recorded USD 2.46 trillion in retail sales for the year 2016.
In the processed and packaged foods, ensuring food safety and quality starting from transportation to farm to fork and storage facilities is a major concern. To meet this demand, food additives are used. Food additives are used to enhance the taste, color, texture of food, same time maintaining the freshness and nutritional content. China food additive market is expected to grow at a 5.2% CAGR during the forecasted period of 2018 -2023.
Growing demand for processed food
As economies rise and emerge, food demand will continue to shift towards China in the near future. The increasing disposable incomes of the burgeoning middle class is driving the shift towards convenience and processed foods, thus escalating the need for food, thereby need for food additives. Increasing exposure to packaged food and beverages majorly drives consumers. Growing urbanization of the rural population and rising organized market in rural segments of developing economies of China support this.
One more major driver in the Chinese food additives market is the growing supply chain complexities/inefficiencies in the food and beverage industry. Companies’ attempts in reducing logistics and storage costs as a part of expansion strategies is increasing the importance of value supply chain. This emphasized on the use of food additives to reduce the spoilage and wastage costs. However, the restraint is in the slow urbanization rates in spite of an uptick in demand. Also, the need of approval from the standard regulatory bodies is making the process complex to register to new additives by companies.
In addition, food additives are allowed to be used in China only if they are within the list of allowable food additives announced by the Ministry of Health (MOH) and within the scope of allowed applications and dosage levels; these regulations are restricting the new players from entering the market.
Fruits and Vegetables Have Major Application
China food additives market is segmented by type viz. Preservatives, Food flavors and Flavor enhancers, Antioxidants, Sweeteners, Emulsifiers, Anti Caking agents, Enzymes, Fat replacers, Acidulants and others (texturizer, shelf life stabilizers, etc). Food Additives find major applications in Fruits & vegetables, Bakery & Confectionary, Dairy & Frozen products, Oils & Fats, Savory snacks, Meat poultry & Seafood products.
Acceptance of convenience and package foods in China is seeing demand, for food and beverage additives, thus making China the fastest growing food additives market. The strategies being adopted in the Chinese food additives industry is in the innovation category under the development of natural food additives and functional food ingredients to meet the customer demand.
Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
Market dynamics which essentially consider the factors which are impelling the present market scenario along with growth opportunities of the market in the years to come
Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
Competitive landscape involving the market share of major players along with the key strategies adopted for development in the past five years
Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis and strategies employed by the major market players
3 months analyst support along with the Market Estimate sheet (in excel).
Value chain analysis
Consumer behavior analysis in country level
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