Acidulants Market Size, Share, Analysis & Forecast | 2032
Acidulants Market Size, Share, Analysis & Forecast | 2032
Segments - Acidulants Market by Type (Citric Acid, Lactic Acid, Acetic Acid, Phosphoric Acid, Malic Acid, and Others), Application (Beverages, Dairy & Frozen Products, Bakery, Meat Industry, Confectionery, and Others), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2024 – 2032
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| Report ID :FB-6580
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| 252 Pages
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Report Description
The global acidulants market size was USD 7.5 Billion in 2023 and is likely to reach USD 13.4 Billion by 2032, expanding at a CAGR of 6.7% during 2024–2032. The market growth is attributed to the increasing demand for convenience foods.
Acidulants are substances that are used to lower the pH level of a solution or a food product, making it more acidic. They are commonly used in the food industry to enhance the flavor, texture, and shelf life of various products. Acidulants are either naturally occurring or synthetic, derived from various sources such as fruits, vegetables, and microorganisms.
The demand for acidulants is driven by several factors, including the growing demand for convenience foods, such as frozen foods, leading to an increased need for acidulants to enhance flavor and extend shelf life. Additionally, the rise of fermented foods such as yogurt, cheese, and sauerkraut has driven demand for acidulants as a natural preservative. Increasing focus on health and wellness has led to a growing demand for acidulants as a natural preservative and flavor enhancer in organic and natural products.
The trend towards healthier eating has also led to a growing demand for acidulants that help reduce the calorie and sodium content of food products. Finally, advancements in food processing technology have made it possible to produce acidulants with improved quality, purity, and shelf life, increasing their adoption in various industries.
Impact of Artificial Intelligence (AI) in Acidulants Market
Growing development of new acidulants with specific properties, such as improved flavor profiles or enhanced preservative effects, by analyzing large datasets and identifying patterns is boosting the market. Artificial intelligence aids in the discovery of new acidulants by analyzing large datasets and identifying patterns, accelerating the research and development process. Additionally, the artificial intelligence-powered predictive maintenance help in monitoring and predicting the equipment failure, reducing downtime and increasing overall efficiency in acidulant production.
Acidulants Market Dynamics
Major Drivers
Growing demand for convenience food such as frozen meals and snacks is driving the market. The demand to enhance flavor and extend shelf life of frozen food is boosting the market. Furthermore, the growing popularity of fermented foods, such as yogurt, cheese, and sauerkraut, is fueling the market.
Existing Restraints
Increasing concerns for food safety and contamination is limiting the global market. Concerns about food safety and contamination is expected to limit the use of acidulants in certain applications, particularly in the food processing industry. Furthermore, the increasing issues regarding the texture and flavor is expected to constrain the global market during the forecast period.
Emerging Opportunities
Increasing demand for plant-based products and the growing awareness of the benefits of plant-based diets are expected to drive the demand for plant-based acidulants. Moreover, the increasing the low-calorie and low-sodium products is propelling the demand for the global market.
Scope of the Acidulants Market Report
The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Acidulants Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2023 |
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Historic Data |
2017–2022 |
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Forecast Period |
2024–2032 |
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Segmentation |
Type (Citric Acid, Lactic Acid, Acetic Acid, Phosphoric Acid, Malic Acid, and Others), Application (Beverages, Dairy & Frozen Products, Bakery, Meat Industry, Confectionery, and Others) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast |
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Key Players Covered in the Report |
ADM; Archer Daniels Midland Company; Brenntag North America, Inc.; Cargill, Incorporated; Corbion N.V; Hawkins Watts Ltd.; Jungbunzlauer Suisse AG; Tate & Lyle; and Univar Solutions LLC. |
Market Segment Insights
Regional Analysis
In terms of region, the global acidulants market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific dominates the global market in 2023 owing to the growing demand for convenience foods. Moreover, the rise of the food processing industry is propelling the regional market. Furthermore, the increasing focus on health and wellness is expected to boost the regional market.
The market in North America is projected to grow at a significant pace in the years to come owing to the large and growing food processing industry. Additionally, the increasing focus on health and wellness and increasing government regulations is expected to drive the regional market. Growing investments by major market players present in North America is expected to fuel the regional market during the forecast period. For instance,
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In 2021, a US-based investment company KPS Capital Partners, which provides industrial starches, acidulants, and many other products, acquired a majority stake holding in Tate & Lyle for USD billion 1.7. This acquisition provides KPS Capital Partners operative control over the major business of Tate & Lyle in the regions of Latin America and North America to expand its business and presence over Latin America and North America.
Segment Analysis
Type Segment Analysis
Based on type, the acidulants market is divided into citric acid, lactic acid, acetic acid, phosphoric acid, malic acid, and other. The citric acid segment held the largest share in the global market in 2023 owing to the widespread use in food and beverages. Furthermore, the growing demand for natural and organic products is expected to boost the segment during the forecast period. Citric acid is also used in the pharmaceutical industry as a buffering agent and pH adjuster in the production of various medications, propelling the segment.
The lactic acid segment is anticipated to grow at a substantial CAGR during the forecast period due to the rising demand for natural and organic products. Furthermore, the increasing use in pharmaceuticals industry as a buffering agent and pH adjuster in the production of various medications is expected to fuel the segment.
Application Segment Analysis
On the basis of application, the global market is segregated into beverages, dairy & frozen products, bakery, meat industry, confectionery, and others. The beverages segment is anticipated to register a considerable CAGR in over the predicted period due to the growing demand for natural and organic beverage. Moreover, the increasing use in energy drinks and sports drinks is expected to propel the segment during the forecast period.
The dairy & frozen products segment is projected to register a robust growth rate during the assessment years due to the widespread use in yogurt and cheese production. Furthermore, the increasing use in frozen desserts is driving the segment. Additionally, the growing demand for natural and organic dairy products is expected to boost the segment during the projection period.
Segments
The acidulants market has been segmented on the basis of
Type
- Citric Acid
- Lactic Acid
- Acetic Acid
- Phosphoric Acid
- Malic Acid
- Others
Application
- Beverages
- Dairy and Frozen Products
- Bakery
- Meat Industry
- Confectionery
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- ADM
- Archer Daniels Midland Company
- Brenntag North America, Inc.
- Cargill, Incorporated
- Corbion N.V.
- Hawkins Watts Ltd.
- Jungbunzlauer Suisse AG
- Tate & Lyle
- Univar Solutions LLC
Competitive Landscape
Key players competing in the global acidulants market are ADM; Archer Daniels Midland Company; Brenntag North America, Inc.; Cargill, Incorporated; Corbion N.V; Hawkins Watts Ltd.; Jungbunzlauer Suisse AG; Tate & Lyle; and Univar Solutions LLC.
These players utilize several development strategies, such as product launches and acquisitions, to boost their global presence. For instance,
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In March 2023, Univar Solutions LLC has been acquired by Apollo Funds, a leading private equity firm. The two companies have entered into a definitive merger agreement, which values Univar Solutions LLC at approximately USD 8.1 billion. Additionally, the transaction includes a minority investment from Abu Dhabi Investment Authority's wholly-owned subsidiary, a prominent sovereign wealth fund.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Acidulants Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Acidulants Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Acidulants Market - Supply Chain
4.5. Global Acidulants Market Forecast
4.5.1. Acidulants Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Acidulants Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Acidulants Market Absolute $ Opportunity
5. Global Acidulants Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Acidulants Market Size and Volume Forecast by Types
5.3.1. Citric Acid
5.3.2. Lactic Acid
5.3.3. Acetic Acid
5.3.4. Phosphoric Acid
5.3.5. Malic Acid
5.3.6. Others
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Acidulants Market Analysis and Forecast by Applications
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Applications
6.2.2. Y-o-Y Growth Projections by Applications
6.3. Acidulants Market Size and Volume Forecast by Applications
6.3.1. Beverages
6.3.2. Dairy and Frozen Products
6.3.3. Bakery
6.3.4. Meat Industry
6.3.5. Confectionery
6.3.6. Others
6.4. Absolute $ Opportunity Assessment by Applications
6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Acidulants Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Acidulants Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Acidulants Demand Share Forecast, 2019-2026
8. North America Acidulants Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Acidulants Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Acidulants Market Size and Volume Forecast by Types
8.4.1. Citric Acid
8.4.2. Lactic Acid
8.4.3. Acetic Acid
8.4.4. Phosphoric Acid
8.4.5. Malic Acid
8.4.6. Others
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. North America Acidulants Market Size and Volume Forecast by Applications
8.7.1. Beverages
8.7.2. Dairy and Frozen Products
8.7.3. Bakery
8.7.4. Meat Industry
8.7.5. Confectionery
8.7.6. Others
8.8. Basis Point Share (BPS) Analysis by Applications
8.9. Y-o-Y Growth Projections by Applications
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Acidulants Demand Share Forecast, 2019-2026
9. Latin America Acidulants Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Acidulants Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Acidulants Market Size and Volume Forecast by Types
9.4.1. Citric Acid
9.4.2. Lactic Acid
9.4.3. Acetic Acid
9.4.4. Phosphoric Acid
9.4.5. Malic Acid
9.4.6. Others
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Latin America Acidulants Market Size and Volume Forecast by Applications
9.7.1. Beverages
9.7.2. Dairy and Frozen Products
9.7.3. Bakery
9.7.4. Meat Industry
9.7.5. Confectionery
9.7.6. Others
9.8. Basis Point Share (BPS) Analysis by Applications
9.9. Y-o-Y Growth Projections by Applications
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Acidulants Demand Share Forecast, 2019-2026
10. Europe Acidulants Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Acidulants Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Acidulants Market Size and Volume Forecast by Types
10.4.1. Citric Acid
10.4.2. Lactic Acid
10.4.3. Acetic Acid
10.4.4. Phosphoric Acid
10.4.5. Malic Acid
10.4.6. Others
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Europe Acidulants Market Size and Volume Forecast by Applications
10.7.1. Beverages
10.7.2. Dairy and Frozen Products
10.7.3. Bakery
10.7.4. Meat Industry
10.7.5. Confectionery
10.7.6. Others
10.8. Basis Point Share (BPS) Analysis by Applications
10.9. Y-o-Y Growth Projections by Applications
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Acidulants Demand Share Forecast, 2019-2026
11. Asia Pacific Acidulants Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Acidulants Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Acidulants Market Size and Volume Forecast by Types
11.4.1. Citric Acid
11.4.2. Lactic Acid
11.4.3. Acetic Acid
11.4.4. Phosphoric Acid
11.4.5. Malic Acid
11.4.6. Others
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Asia Pacific Acidulants Market Size and Volume Forecast by Applications
11.7.1. Beverages
11.7.2. Dairy and Frozen Products
11.7.3. Bakery
11.7.4. Meat Industry
11.7.5. Confectionery
11.7.6. Others
11.8. Basis Point Share (BPS) Analysis by Applications
11.9. Y-o-Y Growth Projections by Applications
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Acidulants Demand Share Forecast, 2019-2026
12. Middle East & Africa Acidulants Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Acidulants Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Acidulants Market Size and Volume Forecast by Types
12.4.1. Citric Acid
12.4.2. Lactic Acid
12.4.3. Acetic Acid
12.4.4. Phosphoric Acid
12.4.5. Malic Acid
12.4.6. Others
12.5. Basis Point Share (BPS) Analysis by Types
12.6. Y-o-Y Growth Projections by Types
12.7. Middle East & Africa Acidulants Market Size and Volume Forecast by Applications
12.7.1. Beverages
12.7.2. Dairy and Frozen Products
12.7.3. Bakery
12.7.4. Meat Industry
12.7.5. Confectionery
12.7.6. Others
12.8. Basis Point Share (BPS) Analysis by Applications
12.9. Y-o-Y Growth Projections by Applications
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Acidulants Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Acidulants Market: Market Share Analysis
13.2. Acidulants Distributors and Customers
13.3. Acidulants Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. ADM
13.4.2. Archer Daniels Midland Company
13.4.3. Brenntag North America, Inc.
13.4.4. Cargill, Incorporated
13.4.5. Corbion N.V.
13.4.6. Hawkins Watts Ltd.
13.4.7. Jungbunzlauer Suisse AG
13.4.8. Tate & Lyle
13.4.9. Univar Solutions LLC
Methodology
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