Acidulants Market By Type (Acetic, Fumaric, Citric, Phosphoric, Lactic, Malic, Tartaric Acid), By Function (Flavor Enhancers, Microbial Control, pH Control, Preservatives), By Grade(Food, Feet), By Application, By Region - Market Forecast 2020-2030
Global Acidulants Market Outlook
The global acidulants market is expected to foray ahead at a healthy CAGR of nearly 5% over the forecast period of 2020-2030. Analyzing through the market lens, it is expected to climb up in terms of revenue to US$ 3.5 billion by the end of FY 2030.
Acidulants are chemical compounds that have several applications, such as additives to enhance the quality or taste of certain foods and beverages. Acidulants are of various types, namely, acetic acid, fumaric acid, tartaric acid, etc., each having their own respective applications.
The COVID-19 pandemic has affected the acidulants market in an important way. This is one of the markets that has seen a downfall due to the pandemic. It has extensively decreased production of almost all types of acidulants, especially feed acidulants.
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Acidulants Market Insights by Product Type
Acidulants can be segregated into a number of types, of which, the prominent ones are acetic acid, fumaric acid, citric acid, phosphoric acid, lactic acid, malic acid, and tartaric acid. Some acidulants are naturally obtained while others are chemically produced. The acetic acid segment is the leading product type occupying over 20% of the acidulants market share. With increasing demand and easy availability of acetic acid, it has become a prominent acidulant in the global acidulants market space.
Other types such as citric acid also occupy a significant position in the acidulants market, mainly due to rise in awareness of organic compounds and potentially higher demand for naturally-occurring additives as a health precaution.
Acidulants Market Insights by Function
Acidulants can be used in a variety of different functions, some of which are as a flavor enhancers, in pH control, in microbial control, as a preservative, etc. Out of these, the flavor enhancer function is the leading segment accumulating over 30% of market share. The key factor assisting this segment is exponential increase in the food and beverages industry pertaining to demand for high quality and tastier products across the globe.
The preservative segment in the acidulants market also holds a consistent share, owing to rising need for food & beverage products with higher shelf life across many key regions in the world.
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Regional Outlook of Acidulants Market
The global acidulants market is very diverse, expanding to all regions such as North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. However, due to immense rise in population and crucial demand for higher shelf life products, Asia Pacific has a dominant acidulants market share, accounting for over 40% based on revenue. On the other hand, North American will see intense growth in the market over the coming years. Europe holds a steady and considerable position in the global acidulants market.
Acidulants Market: Key Players
The acidulants market is fragmented in nature, where, top players account for over half of the market share. Products are sold by a number of multinational and regional companies, out of which, major players are BRENNTAG, ADDCON Group GmbH, Yara International ASA, Anpario PLC, BASF SE, Perstorp Holding AB, Biomin Holding GmbH, Archer Daniels Midland Company, Nutrex NV, Novus International, Inc., Tate & Lyle PLC., Batory Foods Inc., Foodchem Co. Ltd., ITPSA, Cargill Inc., Hawkins Watts Limited, and Univar Inc.
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The Analyst’s Viewpoint
“Expansion of product portfolio and acquisition of smaller players across various regions are key to healthy growth of key players in the acidulants market.”
COVID-19 Impact on Acidulants Market
The COVID-19 disease caused by coronavirus has had a significant negative impact, globally, from a business standpoint. The global acidulants market has also witnessed negative consequences due to the pandemic. Moreover, feed acidulants pertaining to animal nutrition have seen extensive adverse effects as a result of the outbreak. This is mainly because of a downfall in demand and restrictions laid out by several governments regarding the supply chain in the global acidulants market.
Acidulants Market: About the Report
Fact.MR published an exclusive forecast report on the acidulants market for 2020 and 2030. The foremost objective of this report on the acidulants market is to pitch spearhead insights on the market scenario, demand generators, and technological advancements in the acidulants market. Also, the study on the acidulants market addresses key dynamics that are expected to diversify the sales and future prominence of the acidulants market.
The report on the acidulants market begins with an executive overview, in which, product definition has been provided. The report further proceeds with the taxonomy of the acidulants market, elaborating on key segments. Also, the report outlines visionary insights on the dynamics of the acidulants market, including drivers, restraints, opportunities, trends, and pricing analysis, along with key buying factors for acidulants.
Supply chain analysis and pricing analysis of the acidulants market along with the difference between acidulants used as per application have also been included in the report, to help readers clearly understand the product framework map in the acidulants market.
Acidulants Market: Segmentation
Fact.MR has studied the acidulants market with detailed segmentation on the basis of type, function, grade, application, and key regions.
- Acetic Acid
- Fumaric Acid
- Citric Acid
- Phosphoric Acid
- Lactic Acid
- Malic Acid
- Tartaric Acid
- Flavor Enhancers
- Microbial Control
- pH Control
- Bakery & Confectionary
- Dairy Food
- Animal Nutrition
- North America
- Latin America
- Asia Pacific
- Middle East & Africa“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.”