“Global Food Acidulants Market to reach a market value of USD 8.6 Billion by 2031 growing at a CAGR of 5.1%”
The Global Food Acidulants Market size is expected to reach $8.6 billion by 2031, rising at a market growth of 5.1% CAGR during the forecast period. In the year 2023, the market attained a volume of 7,485.8 tonnes experiencing a growth of 15.9% (2020-2023).
The beverage industry in North America is seeing significant growth, particularly in segments like energy drinks, flavored waters, and functional beverages. Acidulants are essential in these products for flavor enhancement, carbonation control, and microbial stability. Consequently, the North American region would acquire nearly 30% of the total market share by 2031. Also, the US market would consume 70.5 tonnes of malic acid by 2031. The innovation in beverage formulations, including the rise of plant-based and non-alcoholic beverages, further fuels the demand for food acidulants.
More convenient eating options are in greater demand because modern lifestyles feature busier schedules. In addition, urbanization and the adoption of Western dietary patterns in emerging economies have led to an increased consumption of processed and convenience foods. In conclusion, increasing demand for processed foods is driving the food acidulants market's growth. Additionally, Concerns over food safety and the possibility of eating tainted or damaged food items are growing among consumers. Furthermore, food waste is a global challenge with significant economic, environmental, and social implications. Therefore, growing awareness of food preservation is driving the market's growth.
However, Many food acidulants are derived from agricultural commodities, such as fruits, grains, and vegetables. Seasonal variations, weather, and worldwide supply and demand dynamics are some of the factors that might affect the prices of various raw resources. Likewise, food acidulant producers often rely on imported raw materials from different regions or countries. Thus, raw materials cost and price volatility are hindering market growth.
Based on type, the food acidulants market is divided into citric acid, acetic acid, lactic acid, phosphoric acid, malic acid, and others. In 2023, the lactic acid segment witnessed a 11.5% revenue share in the food acidulants market. Lactic acid exhibits antimicrobial properties, making it an effective natural preservative in food and beverage products. It inhibits the growth of molds, harmful bacteria, and yeasts, extending the shelf life of perishable items such as dairy products, meat products, salad dressings, and sauces.
On the basis of application, the food acidulants market is segmented into beverages, bakery & confectionery, dairy & frozen desserts, meat industry, and others. In 2023, the bakery & confectionery segment attained a 26% revenue share in the food acidulants market. In terms of volume, the bakery & confectionery segment registered 2,032.2 tonnes in 2023. Acidulants are crucial in enhancing the texture and quality of bakery and confectionery products. In bakery applications, acidulants such as citric and lactic acid help condition dough, improving its elasticity, rise, and crumb structure.
Free Valuable Insights: Global Food Acidulants Market size to reach USD 8.6 Billion by 2031
Region-wise, the food acidulants market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific region witnessed 36% revenue share in the food acidulants market in 2023. This region includes some of the world's most populous countries, such as China and India. Rapid urbanization in these nations is driving changes in lifestyle and eating habits, resulting in an increased consumption of convenience and processed foods and beverages.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 5.8 Billion |
| Market size forecast in 2031 | USD 8.6 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 5.1% from 2024 to 2031 |
| Quantitative Data | Volume in Tonnes, Revenue in USD Billion, and CAGR from 2020 to 2031 | Number of Pages | 289 |
| Tables | 610 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdowns, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Type, Application, Region |
| Country scope |
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| Companies Included | Tate & Lyle Plc, Brenntag SE, Univar Solutions, Inc., Archer Daniels Midland Company, Jungbunzlauer Suisse AG, Cargill, Incorporated, Corbion N.V., Bartek Ingredients Inc. (TorQuest Partners), FBC Industries Inc. and Hawkins Watts Limited |
By Application (Volume, Tonnes, USD Billion, 2020-2031)
By Type (Volume, Tonnes, USD Billion, 2020-2031)
By Geography (Volume, Tonnes, USD Billion, 2020-2031)
This Market size is expected to reach $8.6 billion by 2031.
Increasing demand for processed foods are driving the Market in coming years, however, Cost and price volatility of raw materials restraints the growth of the Market.
Tate & Lyle Plc, Brenntag SE, Univar Solutions, Inc., Archer Daniels Midland Company, Jungbunzlauer Suisse AG, Cargill, Incorporated, Corbion N.V., Bartek Ingredients Inc. (TorQuest Partners), FBC Industries Inc. and Hawkins Watts Limited
In the year 2023, the market attained a volume of 7,485.8 tonnes experiencing a growth of 15.9% (2020-2023).
The Beverages segment led the Market by Application in 2023; thereby, achieving a market value of $3.2 Billion by 2031.
The Asia Pacific region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $3.2 Billion by 2031.
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