The Asia Pacific food acidulants market size is anticipated to expand at a substantial CAGR during the forecast period, 2021-2028. The growth of the market is attributed to rising of food acidulants in the food and beverage industry.
Food acidulants are food additives that are used to maintain the taste and other olfactory properties of food products. The primary capacity of the acidulants is to balance out the pH level of the food item and preserve the items timeframe of realistic usability. Common food acidulants that are used in the food and beverage industry includes citrus extract, lactic acid, acetic acid, malic acid, and phosphoric acid.
Food and beverage organizations across the globe, from bistro and café proprietors to huge food makers and retailers, had a huge impact due to COVID-19 pandemic. Social disengagement, self-separation, and confinement of the cities have constrained numerous offices to be shut in nations in Asia, the US, Europe, and the remainder of the world. Under colossal strain from customers who stock items, void racks became the new normal in grocery stores and grocery store chains.
Market Trends, Drivers, Restraints and Opportunities
- Rising purchasing power and increasing inclination toward healthy products are key factors that are positively influence the market growth during the forecast period.
- Growing demand for food acidulants in the beverage industry is estimated to fuel the market growth.
- The production of inorganic acidulants, as well as phosphoric corrosive, emanates poisonous vapors that can hurt the plant group and cause tenderness to the skin, eyes, and respiratory system and lack of proper government regulations can hamper the market growth in the coming years.
- The developing interest for acid controllers in the beverage business, primarily in seasoned water, energy and carbonated drinks can create lucrative opportunities during the forecast period.
Scope of the Report
The report on the Asia Pacific food acidulants market 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
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Details
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Report Title
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Food acidulants Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Product Types ( Citric Acid, Phosphoric Acid, Lactic Acid and Others) and Applications (Bakery, Dairy & Frozen products, Confectionery, Meat Poultry & Sea Food Products, Beverages, and Others)
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Geography Scope
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India, China, South Korea, Japan, and Rest of Asia Pacific
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Tate & Lyle; Archer Daniels Midland Company; Cargill Incorporated; Weifang Ensign Industry Co., Ltd.
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Food Acidulants Market Segment Insights
Citric acid segment is anticipated to constitute a key market share
On the basis of product types, the market is segregated into citric acid, phosphoric acid, lactic acid, and others. The citric acid segment is projected to expand at a considerable CAGR during the forecast period. It is predominantly utilized as acid controller due to its high dissolvability, acidity, and sour taste. It is basically utilized as an acid controller, utilized as enhancing and additive agent resulting in a citric acid impact on the market.
Beverages segment is estimated to account for a significant market share.
Based on applications, the Asia Pacific food acidulants market is divided into bakery, dairy & frozen products, confectionery, meat poultry & sea food products, beverages, and others. The beverages segment is estimated to account for a significant market share during the forecast period. Advancement and development in the beverage industry is propelling the market segment growth.
China to dominate the market
In terms of regions, the market is classified as India, China, South Korea, Japan, and Rest of Asia Pacific. China is expected to constitute a key share of the market during the projected period. Rising interest for convenience food is one of the main considerations cultivating the development of the market in country.
Segments
Segments Covered in the Report
The Asia Pacific food acidulants market has been segmented on the basis of
Product Types
- Citric Acid
- Phosphoric Acid
- Lactic Acid
- Others
Applications
- Bakery
- Dairy & Frozen products
- Confectionery
- Meat Poultry & Sea Food Products
- Beverages
- Others
Geography
- India
- China
- South Korea
- Japan
- Rest of Asia Pacific
Key Players
- Tate & Lyle
- Archer Daniels Midland Company
- Cargill Incorporated
- Weifang Ensign Industry Co., Ltd
Competitive Landscape
Key players competing in the global Internet of Things market are Alcatel-Lucent Enterprise; Atmel Corp.; Google Inc.; Huawei Technologies Co., Ltd.; Oracle Corp.; Accenture PLC; Amazon.com Inc.; Cisco Systems, Inc.; Hewlett-Packard Development Co. L.P.; and IBM Corp. Companies are focusing on investments in R&D sector to gain an early mover advantage. Furthermore, companies have been widely engaged in strategic partnership, merger & acquisition, new product launch, and collaborations to boost their market share and acquiring new buyers.
For instance, in June 2020, CyberX, an industrial cybersecurity platform provider was acquired by Microsoft to accelerate and secure customers IoT deployments and manage the security in existing devices. In September 2021, The University of Birmingham announced the partnership with Siemens to combine analytics technologies, Artificial Intelligence, and digital sensor. This partnership was aimed to transform their university into the smartest global campus globally. Under this partnership the University of Birmingham will deploy technology at a large scale in the university.
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