Global beverage additives market is projected to display significant growth by 2023

June 18, 2019 - According to a report available on Radiant Insights, Inc.; the global beverage additives market is projected to display significant growth by 2023. Growing demand for packed beverages due to increasing mindfulness among the individuals for healthy diet can drive the market over the forecast period (2018 to 2023).  Demand for products such as energy/sport drinks, packed juices, and soft drinks are high among the consumers.  Additives such as flavors, enzymes, preservatives, fat replacers, emulsifiers, enhancers, and other play a crucial role in convenience and packed food industry. These additives can be used to maintain certain quality of products in terms of taste and texture. High demand for food flavors and taste enhancers can have positive impact on the market growth. for instance, Apothic, a wine company has recently developed a wine infused with cold brew coffee labeled Apothic Brew. This wine is made-up of coffee grounds and is relatively smoother than its warmer counterparts. Its smooth textures and supple flavors come from the brew’s temperature. This wine can be served at room temperature or a little chilled.

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Increasing demand for a soft drink with reduced sugar has also led replacement of sugar with natural and artificial sweeteners. Demand for natural additives is high among health-conscious consumers instead of artificial additives. This is also expected to create more opportunities in the market. Growing rate of obese population and heart diseases have also boosted the demand for fat replacers. In addition, rising prevalence of diabetes has increased the demand for low calorie product. This is expected to augment demand for natural sweetener in the coming years. For instance, Coca-Cola recently launches Coca-Cola Stevia No Sugar in New Zealand. This product will replace Coca-Cola Life products in the country. The no-sugar beverage reported to have 1.3 kilojoules (0.3 calories) per 100ml.

Worldwide beverage additives market can be segmented on the basis of type, application, and region. Based on type, the market can be categorized into preservatives, flavoring agents, colorants, and others. As per application, the market can be bifurcated into alcoholic beverages and non-alcoholic beverages. Geographically, the market can be divided into North America, Europe, Asia-Pacific, South America, and Middle East and Africa. North America and Europe are projected to grow on account of rising consciousness among the consumers about healthy lifestyle. Asia Pacific is likely to display notable growth in the coming years. Factors such as increasing disposable income, increasing demand for convenience and packed products, and realization of healthy lifestyle are likely to drive the regional growth.

Some of the leading companies operating in the beverage additives market include California Custom Fruits & Flavors Inc.; Sensient Technologies Corp.; International Flavors & Fragrances Inc.; American Tartaric Products Inc.; and Archer Daniels Midland Company. Players are competing each other based on quality, price, distribution, and service. Companies are also making high investments in advanced technologies to developed product with better quality. To develop unique taste and flavor, the beverage manufacturers have increased their demand for customized flavors and enhancers from additives providers.  In recent developments, Perrier Carbonated Mineral Water recently launches a new range of Perrier & Juice drink, in the U.S. The new product line consists of the Perrier mineral water blend with real fruit juices and sugar. These beverages are available in three flavors such as Pineapple & Mango, Peach & Cherry, and Strawberry & Kiwi.

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