ESOMAR-certified Future Market Insights (FMI) infers that the global beverage stabilizers market is expected to reach impressive heights, given the high incidence of health boosting and non-alcoholic beverage consumption, according to a recently published report.
According to W.H.O., over 3 million fatalities (~6%) in 2012 were attributed to excessive alcohol consumption. Thus, governments worldwide have promoted various awareness campaigns to reduce alcohol intake. As a result, sales of non-alcoholic functional and non-functional beverages has soared.
Since COVID-19’s outbreak, there is a general tilt towards consuming health-boosting beverages, which has opened up new revenue generation frontiers for beverage stabilizer manufacturers. A study revealed that nearly 6 out of 10 consumers intended to reduce unhealthy beverage intake and switch to a healthier lifestyle to avoid complications.
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Key Takeaways
- Global beverage stabilizers to expand at a positive CAGR through 2030
- Xanthan gum derived stabilizers to retain lucrativeness, gum Arabic gaining significant ground
- India & China to emerge as promising growth hotspots, owing to rapid urbanization and surging income levels
- Soft drinks to remain primary application area across the forecast period
“Manufacturers are looking to invest in emerging economies across the Asia-Pacific region, primarily due to increasing beverage consumption in the wake of rising per capita incomes and standard of living,” remarks the FMI analyst.
COVID-19 Impact Analysis
As the COVID-19 pandemic intensifies, prominent food & beverage manufacturers are augmenting production capabilities to offset further recessionary impacts anticipated during the second wave of infections. This is likely to sustain demand for beverage stabilizers.
Online food & beverage delivery chains have greatly assisted in retaining the demand for beverage stabilizers across commercial and residential sectors. For instance, in the U.S., nearly 3 out of 5 e-commerce sales account for food & beverage products. Consequently, the regional demand for beverage stabilizers is likely to prevail.
However, the return to a pre-COVID-19 status quo is highly unlikely, given the considerable time required by the economy to revert to complete normalcy. Hence, a certain degree of sluggishness is also on the cards.
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Competitive Landscape
The global beverage stabilizers market is interspersed with prominent manufacturers such as Archer Daniels Midland Company, DuPont, CP Kelco, Ashland Global Holdings Inc., Ingredion Inc., Nexira, Kerry Group, Glambia Nutritionals and DSM to name a few.
Their primary expansion strategies involve collaborations, acquisitions, expansion of business and product portfolios and new product releases. Lucrative opportunities are in store across the developing world, owing to rising food consumption in the wake of a rapidly growing population.
In October 2020, Archer Daniels invested a significant portion of its revenue in constructing a new state-of-the-art facility in Valencia, Spain. This expansion has been undertaken with the objective of broadening its probiotic foods business segment. This new facility represents a five-fold increase in the company’s production capacity.
In June 2020, Cargill Foods Inc., forayed into the chocolate market in India, with production scheduled to begin from mid-2021 and will initially produce 10,000 tons of chocolate compounds. Growing demand due to enhanced living standards has motivated the food giant to foray into the South Asian market.