Crucial Insights into the Food Acidulants Global Market - Size, Growth, and Key Industry Players Projected till 2024
Food Acidulants Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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What Is The Size And Growth Rate For Food Acidulants Market In 2024?
The food acidulants market size has witnessed robust growth in recent years. The market is expected to surge from $5.92 billion in 2023 to $6.42 billion in 2024, at a compound annual growth rate CAGR of 8.5%. The growth in the historic period is credited to the increased consumer demand for processed and convenience foods, growth in awareness of food preservation and shelf-life extension, and the global expansion of the food and beverage industry. Other contributing factors include the need for flavor enhancement and taste modification in foods, regulatory approval, and safe usage of acidulants in food applications, and demand for acidulants in bakery, confectionery, and beverage industries.
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What Is The Food Acidulants Market Growth Forecast?
Foreseeing a strong growth in the next few years, the food acidulants market is predicted to reach $8.87 billion by 2028 at a compound annual growth rate CAGR of 8.4%. The prediction for elevated growth is due to the adoption of acidulants in clean label and natural food formulations emphasis on pH regulation and acidification in food processing, research and development in acidulant blends for specific applications, need for acidulants in low-sugar and reduced-calorie food products, and expansion of acidulant applications in dairy and dairy alternative products. Moreover, the market is stimulated by the growing demand for acidulants in meat and seafood processing.
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What Is Driving The Food Acidulant Market Growth?
A significant driver feeding the growth of the food acidulants market is the increased consumption of processed meat. Processed meat includes any meat that has been modified to enhance its flavor or prolong its shelf life. Food acidulants play a crucial role in increasing the shelf life of processed meat, poultry, and fish products. It inhibits the growth of disease-causing bacteria, improving flavor, and enhances binding and retention capacity. As per the Organization for Economic Co-operation and Development - Food and Agriculture Organization OECD-FAO, the global meat consumption is projected to rise by 12% from 2020 to 2029. Additionally, by 2050 global meat consumption is expected to reach 570 million tons. Hence, the increasing consumption of processed meat is catalyzing the growth of the food acidulants market.
Who Are The Key Industry Players In The Food Acidulants Market?
Prominent companies operating in the food acidulants market include ADM Archer Daniels Midland Company, Bartek Ingredients Inc., Caremoli Group, Cargill Incorporated, Hawkins Watts Limited, Corbion, FBC Industries, Dairy Chem, Jungbunzlauer Suisse AG, Parry Enterprises India Limited, Purac biochem BV, Suntran Industrial Group Ltd., Weifang Ensign Industry Co.Ltd., Jones-Hamilton, Aditya Birla Chemicals, Celrich Products, Fuerst Day Lawson, Parry Enterprises India Limited, Atlas Filtri, Merko, Jones-Hamilton Co., Prinova Group LLC, FBC Industries, KIC Chemicals Inc., Galactic S.A., Henan Jindan Lactic Acid Technology Co. Ltd., Foodchem International Corporation, Gulshan Polyols Limited, Musashino Chemical Laboratory Ltd.
What Are The Emerging Trends In The Food Acidulants Market?
Major market players are exploring innovative technologies such as Sugar Reduction Technology to enhance their profitability in the market. By enabling the use of less sugar in a recipe while retaining the same taste, producers can satisfy customers' demands for healthier, lower-sugar goods without compromising on flavor or quality. For instance, in July 2023, Nestle S.A., a Swiss-based food company, introduced Sugar Reduction Technology in food acidulants.
What Is The Market Segmentation In The Food Acidulants Market?
The food acidulants market segmented with respect to the following categories –
1 By Type: Citric Acid, Lactic Acid, Acetic Acid, Phosphoric Acid, Malic Acid, Other Types.
2 By Form: Solid, Liquid.
3 By Application: Beverages, Dairy And Frozen products, Bakery, Meat Industry, Confectionery, Other Applications.
Shining Light on Regional Insights of the Food Acidulants Market
The Asia-Pacific region held the largest share in the food acidulants market in 2023, closely followed by North America. The report covers comprehensive regional insights into Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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