According to Market Research Future (MRFR), The global food acidulants market is projected to be valued at USD 6,570.0 million with a 4.25% CAGR from 2019 to 2024 (forecast period).
Food acidulants are used as an additive in the food and beverage production process as they give a sharp or tart taste to food products and beverages. Food acidulants are also used as preservatives to extend the shelf life of the food. Food acidulants are used to measure the pH level and to help regulate the proper proportion of the flavor and color of food and beverage.
The global market for food acidulants is predicted to be powered by many factors. Food acidulants are primarily used in the production process of many carbonated drinks. Rising customer demand for different beverages and soft drinks is expected to fuel the global market growth for food acidulants during the forecast period. Mainly lactic acid is used in processed meat products to increase the shelf life of the products and to enhance the water-binding capacity of meat products.
Moreover, the market for food acidulants has a huge potential due to its range of applications and increasing consumer demand. Food acidulants are commonly used in the food and beverage industry due to their different properties. This serves as a flavoring agent, a preservative, and an additive where the preservative properties improve the shelf life and perishable food items/drinks. In addition, factors such as improved taste, enhanced taste, and longer shelf life play a significant role in increasing demand for the food acidulant market.
The global market for food acidulants has been segmented based on product type and application.
Based on product type, the global market for food acidulants has been segmented into citric acid, lactic acid, malic acid, sorbic acid, acetic acid, and others.
Based on application, the global market for food acidulants has been segmented into bakery & confectionery, sauces & dressings, dairy & frozen desserts, beverages, soups, sweet & savory snacks, and others.
Region-wise, the global market for food acidulants has been segmented into North America, Europe, Asia Pacific, and the rest of the world.
It is estimated that Europe will remain dominant throughout the forecast period 2019-2024, both in terms of value and volume. The growth of the food acidulants market in European countries is expected to be driven by several factors. Increased consumption of bakery products by consumers in European countries is one of the main factors in the increasing growth of food acidulants. Due to increasingly busy lifestyles, consumers are more likely to processed foods, which, in effect, will boost the growth of the food acidulants market during the forecast period. Germany and Italy are the leading manufacturers of bakery & confectionery products in the European region. The market share of these countries is also extremely high in these nations.
The Asia Pacific is expected to have a maximum growth rate during the forecast period. In the Asia Pacific, China is estimated to remain dominant throughout the forecast period 2019-2024. The production of food acidulants is high in China, and the market for food acidulants is highly fragmented in China due to the presence of several local and unorganized players.
Some of the leading participants in the global food acidulants market are FBC Industries, Inc. (US), Batory Foods, Inc. (US), Tate & Lyle PLC (UK), Fuerst Day Lawson (UK), Suntran (China), Archer Daniels Midland Company (US), Cargill Incorporated (US), Corbion Purac N.V.(Netherlands), RP International Limited (China), Nanjing Xiangshengtai Industry Co., Ltd (China), Global Specialty Ingredients (Malaysia), Hawkins Watts (New Zealand), Univar Solutions (US).
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
Market Research Future (part of Wantstats Research and Media Private Limited), 99 Hudson Street,5Th Floor, New York, New York 10013, United States of America