The food acidulants market is projected to grow from USD 3.1 billion in 2022 to USD 6.5 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 5.1% during the forecast period.
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.
Acidulants and citrates are common ingredients in food and beverages because of the specific capabilities they provide. The role of food Acidulants in the food industry is extremely diverse, ranging from pH correction and flavour improvement to the prevention of enzymatic browning in fresh foods.
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Key Takeaways
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
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.
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.
Food Acidulants Market Segmentation
Form Type
Solid Liquid
Type
Citric Acid Lactic Acid Phosphoric Acid Other Types
Function
Preservative Acidity Regulator Antimicrobial Flavor Enhancer Other Functions
Application
Bakery and Confectionery Beverages Meat Poultry and Sea Foods Sauces and Dressings Other Applications
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Key Questions Answered in the Report
How much is the Food Acidulants market current worth?
Currently Food Acidulants market is worth more than US$ 3.1 Bn.
At what CAGR is the market expected to grow?
Food Acidulants consumption is expected to grow at a CAGR of around 5.5 % during the period 2021-2031.
How was the performance in the last five years?
In terms of revenue, Food Acidulants grew at a CAGR of around 6.2% during 2016-2020
What are the key trends boosting Food Acidulants sales?
Nutritional and allergen-free characteristics of Food Acidulants, increasing demand for Food Acidulants in food and beverages markets. The supply chain disruptions have increased the usage of food acidulants.
How are market players reacting to the new developments in the market?
Market players are opting for technological advancement, new product developments, and production to increase stability at certain temperatures.
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