According to a new report published by Allied Market Research, titled, “Acidity Regulators Market by Product Type, and Application: Global Opportunity Analysis and Industry Forecast, 2022–2031,” the acidity regulators market size was valued at $5,871.30 million in 2020, and is estimated to reach $10,899.60 million by 2031, growing at a CAGR of 5.5% from 2022 to 2031.
Acidity regulators are antioxidants agents, which are being used in various food items such as pickles, potato chips, fried snacks, and many other oil-based and fat containing food products. Increase in consumption of food items containing antioxidants is attributed to growth of the acidity regulators market in upcoming years.
Acidity regulators enhance and contribute flavors in food products. Flavoring agents are used in small amount as food additives or to enhance the flavors. Flavoring agents are used in food products, which do not have the desired flavor. Flavoring agents are used in natural form and processed form in food products for human consumption which further augments the acidity regulators market growth.
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Acidity regulators are used to modify or enhance the taste of food products. Flavors are used in dairy products, beverages, and processed food. Flavors cause sensation of taste in the food products. For instance, about 50% of the citric acid is used as a flavoring agent in several beverages such as tea, soft drink, carbonated drinks, and desserts to enhance the refreshing flavor which is also the key acidity regulators market trends.
Moreover, due to the outbreak of the COVID-19 pandemic, manufacturers have seen drop in there sales. However, implementation of lockdown and curfew practices globally have affected the domestic as well as international production of acidity regulators products, which, in turn, hampers the growth of the overall market. Thus, the outbreak of COVID-19 negatively impacted the acidity regulators market in 2020, as sales of companies reduced and operations were halted.
The global acidity regulators market is segmented on the basis of product type, application, and region. Depending on product, the market is classified into citric acid, phosphoric acid, acetic acid, maleic acid, and lactic acid. On the basis of application, it is segregated into beverages; sauces, condiments, and dressings; processed food; bakery; and confectionery. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
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KEY FINDINGS OF THE STUDY
By product type, the Acidity Regulators Market Analysis includes citric acid, phosphoric acid, acetic acid, maleic acid and lactic acid. The citric acid segment dominated the global market in 2020, and is expected to retain its dominance throughout the forecast period.
On the basis of application, the beverages segment held the dominant share in 2020, and is expected to register the highest CAGR.
Region wise, Asia-Pacific accounted for highest acidity regulators market share in 2020, and is expected to grow at a significant CAGR during the forecast period.
Major companies have adopted agreement, product launch, expansion, and merger strategies to sustain the intense market competition. Key players profiled in the acidity regulators industry Archer Daniels Midland Company, Jungbunzlauer India Pvt. Ltd., Bertek Ingredient Incorporation, ATP group, Celrich Products Pvt. Ltd., Chemelco International B.V., F.B.C Industries Inc., and Fuerst Day Lawson Ltd.
Other players in the value chain include Cargill Incorporated, Kerry Group, Tate and Lyle plc, Corbion N.V., Univar, Brenntag A.G., and Innophos Holding Inc.
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