Acidulants Market Size, Share And Global Trend By Product Type(Citric Acid, Lactic Acid, Malic Acid, Phosphoric Acid), By Application(Bakery & Confectionery, Beverages, Dairy Products, Meat & Poultry), and Regional Forecast, 2024-2032

The global acidulants market is anticipated to witness a crucial rise during the forecast period, owing to increasing utilization of acidulants in food processing industries, across the globe, especially in developing economies. The demand for organic acidulants is expected to grow significantly in the forthcoming years, owing to rising consumer awareness towards health benefits of organic food and food manufactured by using organic ingredients.

Key companies operating in the global acidulants market are focusing on the launch of novel and innovative products and strengthening their product portfolio in order to remain prominent in the market. Archer-Daniels-Midland Company, Cargill Incorporated, Hawkins Watts Limited, and Tate & Lyle Plc. are some of the key companies performing in the global acidulants market.

Acidulants are chemical compounds that are used as food additives to bring a tart or sharp taste in the food or beverage product, along with elongating the shelf-life of the product. Acidulants are capable of slowing down the process of microbial growth in the food. Acidulants are added to the food product due to its multi-functional properties, such as preservatives, gelling agent, flavoring agent, chelating agent, and others.

Overall growth in the food & beverage industry, especially processed food industry, due to changing consumer preferences and lifestyle is anticipated to fuel the growth of global acidulants market. Anticipated increase in the use of acidulants as a cost-effective alternative to the cold supply chain is projected to affect the market positively in the forthcoming years. Furthermore, high efficiency of food acidulants to work as a gelling and flavoring agent and to maintain acidity and pH in beverage products is expected to aid the growth of the market.

Strict regulations by food regulatory bodies such as FDA, EFSA, and others on the use of food additives is projected to hinder the growth of acidulants market during the forecast period. Furthermore, huge pricing competition in the global acidulants market is expected to restrain market growth. Chinese manufacturers are selling acidulants at comparatively very low prices.

Key Players Covered

Some of the major companies that are present in the global acidulants market are Cargill Incorporated, Archer-Daniels-Midland Company, Tate & Lyle Plc., The Unilever Group, Caremoli S.p.A., Hawkins Watts Limited, Brenntag Ingredients Inc., Purac biochem BV, Parchem Trading Ltd., and Fuerst Day Lawson Limited among the other players operating in the global acidulants market.

SEGMENTATION

By product type segment, the global acidulants market has been segmented into citric acid, lactic acid, malic acid, phosphoric acid, and others. The citric acid segment is projected to dominate the global acidulants market during the forecast period, owing to wide application of citric acid in the production of a number of food and beverage products. Easy availability and low cost of citric acid are other significant reasons for the anticipated growth of the segment during the forecast period.

On the basis of application, the global acidulants market has been segmented into bakery & confectionery, beverages, dairy products, meat & poultry, and others. Application of acidulants in beverages is expected to be growing at a significant pace, hence the segment is projected to hold the major market share during the forecast period. Increasing demand for packaged beverages and energy drinks is projected to fuel the demand for acidulants in the beverage industry to extend the shelf-life of products.

Regional Analysis

Asia Pacific is projected to dominate the global acidulants market during the forecast period, owing to the rising adoption of the product by food manufacturers to produce several processed food products. China is one of the key countries of APAC which holds a major market share in the acidulants market of the region. Increased awareness among Chinese consumers about the benefits of using food acidulants to elongate the shelf-life of food products is projected to aid the growth of the market. North America is projected to exhibit crucial growth during the forecast years, owing to increased demand and consumption of convenience food across countries, such as the US and Canada. Acidulants are used as additives in a number of convenience food products to increase their shelf-life.

Key Industry Developments

• In November 2017, BP p.l.c., a prominent energy company revealed its plans to establish a world-class acetic acid plant in Duqm.