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Asia Pacific Food Acidulants Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)
Asia-Pacific Food Acidulants Market is segmented by Type (Citric Acid, Phosphoric Acid, Lactic Acid and Others); by Application (Bakery, Dairy & Frozen Products, Confectionery, Meat Poultry & Sea Food Products, Beverages and Others); and by Geography
- ABOUT THIS REPORT
- Market Snapshot
- Market Overview
- Scope of the report
- Key Market Trends
- Competitive Landscape
- Major Players
- TABLE OF CONTENTS
Market Snapshot
Study Period:
2016 - 2026
Base Year:
2019
CAGR:
5.4 %
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Market Overview
The Asia-Pacific food acidulant market is expected to grow at a CAGR of 5.4% during the forecast period, 2020 to 2025.
Food Acidulants are one of the major food additives used in the food & beverage industry and are one of the fastest growing segments. The main function of the acidulants is to stabilize the pH level of the food product and preserve the product’s shelf life. Additionally, they function as gelling agents, flavor enhancers in confectionary products, and improve the taste in beverages.
Scope of the report
The Asia-Pacific food acidulants market is segmented by Type as Citric Acid, Phosphoric Acid, Lactic Acid and Others, By Application as Bakery, Dairy & Frozen Products, Confectionery, Meat Poultry & Sea Food Products, Beverages and Others, and By Geography the market is studied for China, India, Japan, Australia and Rest of Asia Pacific.
| By Product Type | |
| Citric Acid | |
| Phosphoric Acid | |
| Lactic Acid | |
| Others |
| By Application | |
| Bakery | |
| Dairy & Frozen products | |
| Confectionery | |
| Meat Poultry & Sea Food Products | |
| Beverages | |
| Others |
| By Geography | |
| China | |
| India | |
| Japan | |
| Australia | |
| Rest of Asia Pacific |
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Key Market Trends
Bakery Segment will Witness High Penetration Rate
The prospect of population increase is one of the main factor behind the growth of bakery segment in the Asia Pacific region. While bread consumption is a relatively saturated mature market in many Western countries, bread consumption in many Asian countries like that of Indonesia is in its infancy. On the other hand, over the coming years the marginal gap of wheat usage in instant noodles will be replenished by bakery products, thereby, offering significant opportunity for bakery manufacturers. This overall, opens numerous possibilites for acidulants such as citric acid and lactic acid to witness growth in this segment.
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China is expected to Lead in Acidulant Consumption
The global acidulants market in Asia Pacific is expected to maintain its dominance during the studied period. The growth is mainly relatable to the increasing adoption of acidulants by food manufacturers in the manufacturing of processed food items. Among all the countries studies across the region, China holds a significant share it terms of acidulants adoption. Consumers in China are aware of the health benefits poised by food acidulants and how they help in increasing products’ shelf-life, thereby, improvising the product application through most of the processed food segment.
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Competitive Landscape
Some of the major players operating in the Asia-Pacific food acidulant markets are, Weifang Ensign Industry Co., Ltd., ADM, Cargill, and Tate & Lyle, among others. Manufacturers are adopting innovative technologies to increase their profit margins in the market. Furthermore, the prominence of product applicability has led many players to expand their offering through mergers and acquisitions.
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Table Of Contents
1. INTRODUCTION
1.1 Study Assumptions & Market Definitions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
3.1 Market Overview
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Citric Acid
5.1.2 Phosphoric Acid
5.1.3 Lactic Acid
5.1.4 Others
5.2 By Application
5.2.1 Bakery
5.2.2 Dairy & Frozen products
5.2.3 Confectionery
5.2.4 Meat Poultry & Sea Food Products
5.2.5 Beverages
5.2.6 Others
5.3 By Geography
5.3.1 China
5.3.2 India
5.3.3 Japan
5.3.4 Australia
5.3.5 Rest of Asia Pacific
6. COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Archer Daniels Midland
6.4.2 Cargill Inc
6.4.3 Parry Enterprises India
6.4.4 Tate & Lyle
6.4.5 Weifang Ensign Industry Co. Ltd
6.4.6 Cofco Biochemical (Anhui) Co., Ltd.
6.4.7 Huangshi Xinghua Biochemical Co.Ltd
6.4.8 RZBC Group Co. Ltd.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. ANALYST VIEW ON MARKET POTENTIAL
9. DISCLAIMER
*List Not Exhaustive
** Subject to Availability
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