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Acidity Regulators Market Global Trends & Forecasts to 2018
Global acidity regulators market stands at $ 3.3 billion in 2012, with an estimated market size of $ 3.6 billion in 2013, which is projected to grow at 7.7% CAGR over 2013-2018 and stand at $ 5.2 billion by 2018. With a 7.7% growth rate, acidity regulators market stands to form one of the up-coming market in food additives industry.
Increasing focus on health, nutrition and food safety, emergence of value added products, increasing demand for processed foods and beverages have form to be the stimulating factors for the acidity regulators market.
A peek into the research says:
Asia-Pacific dominates the acidity regulators market, with a market share of 33% in 2012 and is expected to cover share of 35% until 2018. Developing countries like China and India contribute to a large extent to Asia-Pacific to dominate the market. North America followed Asia-Pacific with a market coverage of 29% in 2012.
Citric acid leads the market with half of the acidity regulators market share. More than 60% of citric acid goes in food and beverage industry.Phosphoric acid is the second laresgt market due to its large applications in beverage industry. There is a great worldwide demand for citric acid consumption due to its low toxicity when compared with other acidity regulators and is used mainly in the food industry. Also, increasing beverages and soft drink industry are the stimulating factors for the growth. New and increased number of applications creates market opportunity for the growth of the market.
Beverages lead the application market for acidity regulators followed by sauces, dressings and condiments. Acidity Regulators application in processed foods is the fastest growing market with a CAGR of 8.1%.Due to the increase in processed food demand, they form the third largest segment for acidity regulators application. Like wise, domestic consumption in Western countries and food service market available in Asian countries, its share is supposed to be increased.
A fierce competition provided by Chinese players, especially in case of citric acid has up to a large extent affected the Western players. A regulatory check on the imports, which is now implemented by various countries, can somehow create a healthy market for the acidulants manufacturers across the globe.
Global Acidity Regulators Market is witnessing a surge in expansions from existing as well as newly entered market players. With an increasing demand for food acidulants from emerging markets like Asia-Pacific, major market players have started expanding with strategic innovations and technological up gradations. Companies such as Cargill (U.S.) and Weifang Ensign Industry Co. (China) showed steady investments and expansion in last few years to increase their revenues.
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