Indian food additives market to grow 12 percent CAGR

Posted on 28th Mar 2015 10:28 am by mohit kumar

Kolkata, March 27 (IANS) The growing demand for ready-to-eat food products coupled with rising preference for natural or organic food ingredients will grow at a compounded rate of 12 percent and drive the food additives market in India over the next five years, a research firm said on Friday.

According to a report from TechSci Research, the growth in per capita disposable income and rising urban middle class population are among the key market contributors which will drive the growth.

"India has been witnessing significant rise in food consumption level, prevalence of processed and packaged food, convenience food, alcoholic and non-alcoholic beverages, bakery items, ready-to-eat food products and cereals. These trends are expected to drive remarkable growth in the demand for food additives in the country over the coming years," the report said.

According to the report, due to cultural and regional diversities, the pattern of food consumption is not uniform in India resulting in the western region generating the highest demand for food additives.

"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," it said.

"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 research director at the firm Karan Chechi.

Other news

World Cup 2023: Afghanistan made a big upset and there was a huge change in the points table, England and Australia are in danger! know

The excitement of World Cup 2023 has now started reaching the fans' heads. Afghanistan defeated d

Effect of Russo-Ukraine war: Crude oil continues to boil, the price reaches $ 117, the concern of Indians increases

The eight-day war between Russia and Ukraine has intensified. Most of it seems to be falling on c

Manufacturing PMI: The growth of the manufacturing sector is stable amid rising inflation in the country, PMI stood at 54.6

India's manufacturing sector growth remained stagnant in May. The S&P's monthly report on the

Twitter handle of Ministry of Jal Shakti hacked: Agencies engaged in an investigation; Second major cyber attack in 9 days

The Twitter handle of the Union Ministry of Jal Shakti was hacked on Thursday morning. Since then

Salaar Teaser Out: Prabhas is ready to hit the screen again after Adipurush, the teaser of Salaar came out

Salaar Teaser Out: Prabhas has been in discussion about his film 'Adipurush' for some time now. I

Maha Kumbh: A huge gathering of faith, a wonderful view of Amrit Snan; Naga Sadhus of this Akhara took the first dip.

The first Amrit Snan (Royal Bath) is going on today in the Maha Kumbh 2025, which started on Paus

Adipurush: Such dialogues of Hanuman were deliberately written in 'Adipurush': Writer Manoj Muntashir's big statement on the controversy

The much-awaited film 'Adipurush' starring superstar Prabhas, actress Kriti Sanon and Saif Ali Kh

Petrol Diesel Price: Oil companies have released the prices of petrol and diesel, know how much are the prices in your city

Oil companies have released the prices of petrol and diesel for today. Today companies have not m

Sunny Deol: 'Bollywood did not do justice to you', Sunny Deol's eyes became moist at this statement of Rajkumar Santoshi

Bollywood superstar Sunny Deol gave blockbuster films like 'Gadar 2'. These days the actor is enj

SRH vs CSK: Not Ruturaj Gaikwad, this player will change the luck! You can bet on these eleven players

Sunrisers Hyderabad (SRH) and Chennai Super Kings (CSK) will be eyeing a winning comeback when th