The food acidulants market is valued at US$ 2.6 billion in 2023 and is estimated to reach a value of US$ 4.5 billion by 2033, registering a CAGR of 5.4% during the forecast period.
The rising disposable income and growing demand for clean-label products and processed food are increasing the market share. Furthermore, the demand for food acidulants is fueled by the growing food industry, government initiative plans, and emerging economies. In addition, the food and beverage manufacturers are fueling the market size by increasing the production of food acidulants during the forecast period.
One of the major factors helping to boost the food acidulants market size is the growing demand for healthy nutrition, citric beverage, and preserved food among consumers. Moreover, the growing adoption of food acidulants by manufacturers is enhancing the taste of jellies, jams, cakes, and pastries.
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Adopting fumaric acid in several beverages to provide acidic flavor surges the global market expansion.
Increasing demand for beverages among consumers all around the region is contributing to maximum revenue. Hence, the manufacturers are introducing several unique products to attract consumers and are increasing market trends during the forecast period. Moreover, the adoption of citric acid for desserts, syrups, and exotic beverages is enhancing the market share. An increase in the trends of ready-to-eat food leads to the growing demand for food acidulants in the food sector.
The bakery and confectionery record a CAGR of 5.2% in the food acidulants market. The growing demand for cakes and pastries among children increases the demand for bakeries and confectionery. Increasing demand for packed food and enhanced food shelf life drives market expansion.
The powder Category is the most sought-after in Foam Segment
The powder category leads the food acidulants market by occupying a CAGR of 5.6% during the forecast period. There is a growing demand for powder foam due to its better storage, ease of use and transport. The increasing consumer preferences are bolstering the demand for powder-form food acidulants.
Growing demand for nutritional diets for animals results in the increasing adoption of powder foam. The powder foam recorded a CAGR of 4.3% in its historical period from 2017 to 2022.
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Key Takeaways:
- The food acidulants marketvaluation is expected at US$ 4.5 Bn by 2033.
- The global market is likely to increase during the forecast period witnessing a CAGR of 5.4%.
- The market in the United States is anticipated to grow at a CAGR of 3.8% through 2033.
- With a CAGR of 6.0%, the Indian market will significantly uplif during the forecast period.
- The UK market is expected to grow at a CAGR of 4.5% over the forecast period.
Who is winning?
The market is growing at a moderate pace due to the number of prominent leaders in the global market. The growing local and international companies are advancing the business with the global players. These players are strengthening their companies through unique and innovative product launches.
The growing technological advancement, research activities and adopting market strategies by prominent players are the major factors anticipated to fuel the market expansion during the forecast period.
In 2021, a US-based Company, KPS Capital Partners, acquired Tate & Lyle to expand their business in North America and Latin America.
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Food Acidulants Market by Category
By Type:
- Acetic Acid
- Fumaric Acid
- Citric Acid
- Phosphoric Acid
- Lactic Acid
- Malic Acid
- Tartaric Acid
By Foam:
- Liquid
- Powder
By Function:
- Flavor Enhancer
- Microbial Control
- pH Control
- Preservative
- Others
By Application:
- Bakery and Confectionery
- Beverages
- Dairy Food
- Animal Nutrition
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- Middle East & Africa (MEA)
About FMI
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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