05 November 2020
Visiongain has published a new report on Acidity Regulators Market Report : Forecasts by Type (Citric Acid, Acetic Acid, Lactic Acid and Others), by Application (Beverages, Sauces Dressings and Condiments, Processed Foods, Others), PLUS Profiles of Leading Acidity Regulators Companies and Regional and Leading National Market Analysis, PLUS COVID-19 Recovery Scenarios.
The Global Acidity Regulators market was valued at US$ xx billion in 2020 and is projected to reach a market value of US$ xx billion by 2031. Rising awareness of microbial action impacting the quality of food coupled with the increasing awareness towards increasing shelf life of food & beverage products is expected to drive the demand for acidity regulators. Further, the growing demand for processed foods such as tofu, wafers, and noodles is also a major factor in driving the market growth.
COVID-19 Impact on Sports Nutrition Ingredients Market
As the demand for food is inelastic in nature, therefore demand for food ingredients such as acidity regulators is expected to experience a rise in demand during the pandemic and post-pandemic. However, with the stringent lockdown and lesser amount of labor supply in different countries such as China, India, Spain among others paralyzed the overall supply chain.
Rising Demand for Processed Foods
Rising demand for processed food products is a major factor driving the market of global acidity regulators. Changes in the taste and preferences of the consumers and the increasing number of working women populations are fueling the demand for processed foods. For instance, in 2019, 74.08 million women were employed in the U.S and the number is expected to rise in the coming years. Further, better processing technologies and improved packaging have also grabbed consumer attention which is also a major factor triggering the demand for processed foods.
Increase in Consumer Spending
Further increase in consumer spending is also boosting the demand for better food quality which in turn is triggering the market growth of acidity regulators. For instance, in 2019, consumer expenditure in the U.S was 63,0636 U.S dollars. Therefore, with the growth in consumer spending and inclination towards processed foods is triggering the overall market
A rise in demand for Processed Food
Rising demand for processed food in developing economies such as India China Japan is generating new opportunities for the global acidity regulators market. For instance, in India, the rising number of young population and inclination towards processed foods are major factors behind the market growth. The food processing industry is focusing upon gearing up to meet the demands of processed food by making necessary investments in the required infrastructure.
Some of the key players in the acidity regulators market include Cargill Incorporated, Corbion N.V., Tate & Lyle Plc., Archer Daniels Midland (ADM), Purac Biochem B.V., Kerry Group, Univar Brenntag A.G., and Innophos Holding Inc among others. Several companies are focusing on new product developments to grab greater customer attention. For instance, in 2019, Tate & Lyle showcased the latest ingredient innovation at Gulfood 2019. In addition to this in 2020, Cargill announced its plans to open chocolate making plant in India. The facility is expected to start in 2021 and is committed to producing 10,000 tons of chocolate compound. Therefore this is expected to generate a significant opportunity for the acidity regulators market.
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