Food Acidulants Market - Growth, Trends, and Forecast (2020 - 2025)
発行: Mordor Intelligence Pvt Ltd
ページ情報: 英文 110 Pages
Global food acidulants market is projected to grow at a CAGR of 7.4% during the forecast period of (2019-2024).
Global food acidulants market is segmented based on type, application, and geography. By type, food acidulants market is segmented into citric acid, lactic acid, acetic acid, phosphoric acid, malic acid, and others. The application segment involves beverages, dairy & frozen products, bakery, meat industry, confectionery, and others.
Wide Application in Growing Confectionery Market
The advancement in the confectionery industry dedicated to health-oriented consumers with the development of low-calorie, organic products are gaining a large number of consumer base supplementing the growth of additives market including food acidulants. Witnessing the confectionery potential in different parts of the world, many giant manufacturers are introducing region specific acidulants used in the industry. For instance, Corbion N.V. has launched a revolutionary malic acid powder particularly favoring Asian humid environment to enhance flavor along with the shelf life.A report published by the chocolate company Barry Callebaut estimated the growth rates of chocolate consumption of countries by 2015, with India leading other countries by the growth rate of 127% shows a potential market for food acidulants within the country.
Asia-Pacific Expected to Witness the Highest Growth Rate
Abundant availability, lower-cost production, wide application scope, and multi-functional attributes are few factors augmenting the growth of the acidulant market, in the Asia Pacific region. Key players in the food acidulants market are posing a high threat to western players leading in production, export as well as consumption in attributing to high domestic production of organic and inorganic acids. China is the largest producer and exporter of citric acid having 4 out of 5 headquarters of major citric acid manufacturers in the world. Also, being the reserve for phosphates is again leading in the production of phosphoric acid followed by the USA, Morocco, and Russia. Some of the region based key players are Huangshi Xinghua Biochemical Co.Ltd. and COFCO Biochemical.
Globally, the food acidulants market faces high competition, with the presence of both global and local players. Some of the companies operating in this market are Tate & Lyle, Jungbunzlauer Suisse AG, and Corbion N.V. These companies are expanding their facilities and product portfolio, due to the growing demand for the confectionery and beverage segment in the Asian and African region.