Global food acidulants market valued around USD 5.2 Billion in 2018 and is estimated to grow at a CAGR of around 6.95 % between 2019 & 2025.
Food Acidulants Market
The global food acidulants market valued around USD 5.2 Billion in 2018 and is estimated to grow at a CAGR of around 6.95 % between 2019 & 2025.
The report covers forecast and analysis for the global food acidulants market on a global and regional level. The research report presents a comprehensive valuation of the market, competition, opportunities, emerging trends, and industry-validated market figures. The study provides historic data of 2016 to 2018 along with a forecast from 2019 to 2026 based on volume (Million Tons) and revenue (USD Billion).
The global food acidulant market witnessed substantial growth within a few years and is anticipated to grow at a significant rate within the forecast period. There is vast potential in the food acidulants market owing to its variety of applications and growing demand in the market. Food acidulants are extensively utilized in the food and beverage industry due to their several properties. It acts as flavorings agent, preservative, and additive wherein the preservative property increases the shelf life and of the perishable food items/ drinks. Moreover, factors such as enhancement in taste, enhanced flavor, and larger shelf life play a significant role in lifting the demand for the food acidulant market.
The global food acidulants market has been segmented on the basis of product, form, application and end-use industry. Based on the product, the food acidulants market is segmented into citric acid, fumaric acid, lactic acid, phosphoric acid, tartaric acid, malic acid, and acetic acid. The citric acid is extracted from citrus fruits such as lemon, orange, and pomelos which typically used in food products. The lactic acid is utilized to regulate acidity in processed food products where it acts as preservative and antioxidant. The phosphoric acid is usually responsible for the pungent taste of cola drinks. The tartaric acid is found in fruits such as bananas and grapes also acts as an antioxidant and is generally used in sour-tasting sweets. Lastly, malic acid is used as a flavoring agent in sour confectionery which occurs from an unripe fruit. Based on the form, the food acidulants market is segmented into powder, liquid, and granules. Based on the application, the food acidulants market is segmented into bakery & confectionery, food & nutrition, beverages, dairy & frozen desserts, sauces & dressing where the end-use industry is food and beverages. Geographically, North America is expected to witness the maximum growth owing to the rising acceptance of various types of beverages such as aerated drinks and energy drinks. In Europe, the food acidulants market is expected to be pushed by the growing demand for natural flavored and fruit juice drinks. Increasing convenience food product demand is likely to have a noticeable impact on the growth of the food acidulants market in the Asia-Pacific region over the forecast years.
There are various factors that are supporting industry growth. One of the major drivers that is expected to propel the industry growth is the rise in the demand for processed food as well as processed beverages. Factors such as the change in consumption pattern, consumer preference, and increase in disposable income have lifted up the processed food market which has positively impacted the food acidulants market. However, the stringent food safety norms which may lead to huge compliance cost are anticipated to hinder the growth of food acidulants market in the forecast years.
Some of the major players in the global food acidulants market are Tate and Lyle, Batory Nutra, Archer Daniels Midland Company, Northeast Pharmaceutical Group Co., Ltd., Cargill, Inc., FBC Industries, Inc., Isegen South Africa (Pty), Ltd., Weifang Ensign Industry Co., Ltd., The Sumo Food Ingredients (SFI) (Chemelco International B.V. Products), Suntran Industrial Group Ltd., Shepard Bros., Jones Hamilton Co., Bartek Ingredients Inc., Parry Enterprises India Ltd. Hexagon Overseas, Corbion N.V., DairyChem, and others.