Major players in the acidulants market are leveraging the cost benefits to food and beverage manufacturers transitioning away from conventional cold supply chains.
ROCKVILLE, MD / ACCESSWIRE / November 17, 2020 / The acidulants market is estimated to grow at a healthy CAGR of approximately 5% throughout the period of forecast between 2020 and 2030. The coronavirus pandemic is expected to moderately impact the global acidulants industry, with lockdown restrictions on trade and supply chain logistics being major, short-term concerns. The recovery of the industry is likely to be gradual towards the end of 2021, with issues in terms of animal feed applications gaining importance.
'In addition to food preservation applications, the efficacy of acidulants as flavoring agents and gelling agents to sustain pH and acidity over the long term is anticipated to aid demand in the processed food and beverage industry, supporting the growth of the market for the foreseeable future.' says the Fact.MR study.
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Acidulants Market- Key Takeaways
- Citric acid acidulant is fast-growing segment, which is reflecting strong growth on the back of demand from the convenience foods and beverages segment.
- Beverage applications account for significant revenue share owing to extensive use in ready-to-drink end products.
- Asia Pacific is a fast growing, lucrative market for acidulant manufacturers, driven by consumer health awareness and the rising demand for functional beverages in the region.
Acidulants Market- Driving Factors
- The rising use of acidulants, particularly in food processing industries in emerging economies is a major contributor.
- The introduction and rising popularity of organic acidulants will provide lucrative growth opportunities for the foreseeable future.
- Cost-benefits in increasing shelf life of end products will drive higher adoption rates in times to come.
Acidulants Market- Major Restraints
- High levels of competitiveness in the market landscape restrain profitability for players in the market.
- Strict health and safety regulations by bodies such as the FDA towards food and beverage additives will hold back market growth.
COVID-19 Impact on Acidulants Market
The ongoing coronavirus pandemic has adversely affected the global acidulant market prospects in the short-term. Reduced demand for end products from the food service industry during lockdown restrictions has been a key concern for manufacturers in the industry. Also, government restrictions on trade have also hurt supply chains.
The use of acidulants in animal feed formulations has also slumped during the pandemic owing to lockdown restraints. The market is expected to regain traction gradually towards the end of 2021, owing to the availability of viable alternatives to food and beverage producers.
Explore the global Acidulants market with 192 figures, 156 data tables, along with the table of contents of the report. You can also find detailed segmentation on https://www.factmr.com/report/5244/acidulants-market
ADDCON Group, Archer Daniels Midland Company, Anpario Plc, BASF SE, BRENNTAG, Yara International, Hawkin Watts Ltd., and Tate & Lyle Plc. are some of the more prominent players operating in the acidulants market.
While market players have invested in strategies for expansion, a number of players in the acidulants market have been faced with lawsuits over the misrepresentation of the offerings in end products.
For instance, Nestle USA is facing a class action lawsuit over the use of citric acid in products claiming to have no preservatives. Similarly, Bai Brands has been sued over the use of malic acid in its beverage offerings, which are not labeled as artificially flavored for consumers. Coca Cola has also been targeted over the use of phosphoric acid, while labeling the beverage as preservative and flavoring free.
About the Report
This study offers readers a comprehensive market forecast of the acidulants market. Global, regional and country-level analysis of the top industry trends impacting the acidulants market is covered in this Fact.MR study. The report offers insights on the acidulants market on the basis of type (acetic acid, fumaric acid, citric acid, phosphoric acid, lactic acid, malic acid, and tartaric acid), function (flavor enhancers, microbial control, pH control, and preservatives), grade (food and feed), and application (bakery & confectionery, beverages, dairy food, and animal nutrition) across five regions (North America, Latin America, Europe, Asia Pacific, and MEA).
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