LONDON--(BUSINESS WIRE)--Technavio has announced the top 12 leading vendors in their recent food additives market in the US report until 2020. Vendors are identified based on their revenue and market dominance in terms of experience, geographical presence, product portfolio, financials, and R&D.
One of the important trends in the market is the growing consumer shift toward natural food additives from synthetically derived ones, a result of the growing concern about the ill-effects that the latter can cause on human and environmental health.
“A recent study in the US market has shown that the market for natural shelf life stabilizers saw higher growth than the synthetic additives market. Consumers perceive natural food additives as being safer and healthier than synthetic food additives. Though the cost of manufacturing and acquiring natural food additives is much higher compared to synthetic food additives, the increase in the health-conscious population is influencing their adoption rate,” says Arushi Thakur, a food research expert from Technavio.
Competitive vendor landscape
Changing consumer demands and tastes and growing health consciousness have had significant influence on the food additives market in terms of product differentiation, price, quality, innovation, service, and distribution. Economic wellbeing will bring about improved living standards, increased disposable incomes, and altered spending patterns and lifestyles.
The increasing competition may lead to vendors reducing their product prices, which will negatively affect profit margins and market growth. The current market includes companies of varying sizes. Some companies are also more specialized than others with respect to particular commodities and some companies have larger financial resources than others. Intense competition among vendors, coupled with rapid technological changes, constitutes significant risk factors to vendor operations.
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Top 12 food additives market vendors in the US
Chr. Hansen was established in 1874 and is headquartered in Horsholm, Denmark. The company supplies bioscience-based ingredients to the food, health, and animal feed industries. The company produces cultures and dairy enzymes, probiotics, and natural colors.
Givaudan was established in 1768 and is headquartered in Vernier, Switzerland. The company supplies fragrance and flavor products to the food, beverage, consumer goods, and fragrance companies.
Ingredion was incorporated in 1997 and is headquartered in Westchester, Illinois, US. The company manufactures and supplies starch and sweetener ingredients. It caters to the pharmaceutical, packaged food and beverage, brewing, industrial, and personal care sectors.
The company produces and sells sweeteners and starches for diversified industries. The company manages its business on the basis of geography. The company operates through four reportable geographical segments: South America, North America, APAC, and EMEA.
Headquartered in Covington, Kentucky, US, Ashland is engaged in the business of making different food additives for the food and beverage industry.
Bell Flavors and Fragrances
Founded in 1912, Bell Flavors and Fragrances is located in Northbrook, Illinois, US. The company offers flavors, fragrances, botanical extracts, and specialty ingredients. The company makes flavor enhancers; masking agents; bitterness suppressors; salt reducers; replacers and extenders for vanilla, cocoa, and honey; and sweeteners. It offers its flavors in liquid, spray dry, paste, and powder forms.
Cargill was founded in 1865 and is headquartered in Minnesota, US. The company produces agricultural, food, and industrial products. It offers high-quality ingredients, meat and poultry products, and health promoting ingredients and ingredient systems to food and beverage manufacturers, food service companies, and retailers. Its product line includes cocoa and chocolate, fats and oils, edible oils, functional systems, health-promoting ingredients, hydrocolloids, lecithins, malt, protein, and starch and derivatives.
Based in Atlanta, Georgia, US, CP Kelco is a leading producer of specialty hydrocolloids with operations worldwide. Its ingredients are used in a wide variety of industrial applications, consumer and household products, tailored to meet the needs of regional consumers. Its product line includes gellan gum, pectin, cellulose gum, xanthan gum, carrageenan, carboxymethyl cellulose, diutan gum, and microparticulated whey protein concentrate.
Cumberland Packing is headquartered in Brooklyn, New York, US. Its product portfolio emphasizes on diet and in maintaining good health. It provides sweeteners, raw sugar, and raw organic white sugar. It distributes the products through the brands Sugar in the Raw Organic White, Sugar in the Raw, Agave In The Raw, NatraTaste Gold, NatraTaste Blue, Stevia in the Raw, Sweet'N Low, Monk Fruit In The Raw, Nu-Salt, Butter Buds, and Sweet One. It markets its products online and through stores.
D.D. Williamson was founded in 1865 and is headquartered in Kentucky, US. The company produces and sells caramel and natural colorings to the food and beverage industry worldwide. These are derived from agricultural, biological, or mineral sources.
Based in Philadelphia, US, FMC is a diversified chemical company serving the agricultural, consumer, and industrial markets globally with innovative solutions, applications, and market-leading products. It operates through three business segments: FMC agricultural solutions, FMC health and nutrition, and FMC minerals.
Based in New York, US, IFF is a leading flavor and fragrance company. In 2014, the company generated total revenue of USD 3.1 billion, out of which the flavors segment accounted for 47% of revenue, i.e., USD 1.4 billion.
Sensient Technologies was founded in 1882 and is headquartered in Wisconsin, US. The company develops, manufactures, and markets advanced color, flavor, and fragrance systems. It offers customized food and beverage systems; pharmaceutical colors, coatings, and excipients; cosmetic color and ingredient systems; household and industrial product formulations; digital ink; and other specialty chemicals and colors.
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