Future Market Insights, in its recently published study, projects the global food acidulants market to register positive growth during the 2022-2032 forecast period. Growing consumption of instant foods and beverages is likely to sustain this growth, despite the slowdowns experienced due to COVID-19.
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As urbanization expands, demand for ready-to-eat foodstuffs is increasing, attributed to the adoption of hectic lifestyles. Consequently, their supply is increasing rapidly, filling up shelves in supermarkets and departmental stores. This is providing major traction to food acidulants as they help enhance the shelf-life of such products.
Increasing awareness about food acidulants helping regulate pH levels, olfactory properties preservation, acidity levels regulation and overall enhancement of the functional characteristics of food & beverages are increasing their uptake across numerous food products.
- Liquid form food acidulants to find growing adoption, owing to high beverage consumption
- Citric acid to emerge as the most widely used food acidulants, attributed to its flavor enhancing properties
- Food acidulants as preservatives are poised to find immense application across ready-to-eat foodstuffs
- Beverages segment to register extensive usage of food acidulants through 2030
- Asia-Pacific to be the fastest growing region, North America likely to retain market dominance
“Hectic urban lifestyles are stabilizing demand for convenience food & beverage products, paving way for beneficial opportunities to food acidulant manufacturers in the future,” comments the FMI analyst.
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COVID-19 Impact Insights
With the world hurtling towards a major financial meltdown, the market for food acidulants is expected to take a substantial hit in its revenue and growth projections until the latter-half of 2021. The pandemic has compelled governments to impose shutdowns, thus impacting industrial production and profit margins across prominent sectors.
Logistical difficulties in procuring raw materials to manufacture food acidulants is leading to production crunches, generating a demand-supply gap. However, this is likely to be offset due to a sustained demand for instant foods and beverages from consumers.
Since the past two months, lockdown restrictions are being lifted, permitting movement of goods and material from one place to another. Also, production cycles are gradually being restored, causing revenue pools to expand. This is likely to sustain projections for the food acidulants market in the coming future.
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Food Acidulant Market Players
The global food acidulants market is highly fragmented, characterized by the presence of several regional and international players. Some prominent players profiled in the report are Tate & Lyle plc, Archer Daniels Midland Company, Brenntag AG, Cargill Inc., FBC Industries Inc., Hawkins Watts Ltd. and Isegan South Africa (Pty) Ltd.
The aforementioned players have been investing in enhancement of their research and development capabilities so as to incorporate technological advancements in their product portfolios. Techniques such as acid encapsulation to facilitate controlled release of acidulants have proven highly effective in maintaining food quality for an elongated timespan.
Besides, prominent vendors are also concentrating on strategic mergers and acquisitions with the objective of increasing their market footprint in the forthcoming decade.