Asia pacific Food Acidulants Market-Growth, Trends and Forecast (2015-2020)
Acidulants are one of the major food additives used in Food & Beverages industry and are one of the fastest growing segments. The main function of the Acidulants is to stabilize the Ph. level the food product and preserve the product shelf life. Apart from this, they function as gelling agents, as flavor enhancers in confectionary products and improve the taste in beverages. The global Acidulants market is projected to reach $6134 million by 2020, growing at a CAGR of 7.6%. The Global food acidulants market is driven by growing processed food and beverages market and their consumption by the burgeoning middle class population. Other factors like supply chain complexities like lack of cold storage chains and also consumer demand for nutrition enabled food products seem to drive the market. The market finds restrains in the form of huge competition in pricing due large number of suppliers in the market. Chinese players, especially in citric acid, poses a high threat for Western players and hence, Regulatory checks on imports to create perfect competition like environment is still in the nascent stages in several countries. The key potential this industry sees is in the form of manufacturers adopting technologies to improve their production processes to meet the capacity requirements. The market is segmented based on type which include Citric acid, phosphoric acid, and lactic acid among others. Citric acid dominates the Acidulants market, followed by phosphoric acid. The major applications of Acidulants is seen in non-alcoholic beverages and soft drinks. Beverages are the largest segment for Acidulants followed by seasonings, condiments sauces and Processed food products. In 2015, Asia pacific led the food acidulants markets with a market share of more than 34% and is projected to reach US $2110 million by 2020 with a CAGR of 8.8%. The key reason for such high in Asia pacific countries is the burgeoning middle class. In terms of market size Asia pacific leads followed by North America and Europe. China is one of the largest players in food acidulant business followed by U.S. India, isone of the emerging markets for food Acidulants. Some of the players who have been profiled in this market are ADM, Brenntag, Cargill, Hawkin Watts, Tate& Lyle among others. Manufacturers are adopting innovative technologies to increase their profit margins in this market. Key Deliverables in the Study Market analysis for the Asia-Pacific Food Acidulants market, with region specific assessments and competition analysis. Market definition along with the identification of key drivers and restraints. Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market. Extensively researched competitive landscape section with profiles of major companies along with their market shares. Identification and analysis of the macro and micro factors that affect the Asia-Pacific Food Acidulants market. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information. A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market. Insights on the major regions in country where this industry is blooming and identification of the regions that are still untapped.