Food and Beverage Chemicals Market

Food & Beverage Chemicals Market Segmentation by Product Type [Food Additives (Food Emulsifier, Flavor Enhancers, Humectants, Preservatives, Seasoning, Sweeteners, Antifoaming, Anticaking, Firming, Flour Treatment, Food Glazing Agents and Others), Sanitizers, Cleaning Agents, Technological Aids & Objects and Others] and by Application [Bakery, Beverages, Chocolate & Confectionery, Convenience Food Dairy, Fruit , Meat, Pet Food and Others] – Global Demand Analysis & Opportunity Outlook 2029

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Report ID: 1018 | Published On: Apr 05, 2022

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Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.


In The News

  • November 13th, 2020: Givaudan SA announced that it has partnered with Novozymes A/S, a leading producer of microorganisms, industrial enzymes, and biopharmaceutical ingredients. The partnership is aimed at developing innovative ingredients and technologies for their customers in the areas of food and cleaning through strategic research.
  • November 6th, 2018: BASF SE announced the launch of a sports nutrition ingredient known as PeptAlde. The bioactive peptide was designed to be used for regulating inflammation and it contained a unique set of plant-based peptides which was selected by using AI technology.

Introduction to Food & Beverage Chemicals

Chemicals are used across a wide range of end-use applications. But in the industry of edible commodities, food & beverage chemicals are used either in total or partial to reconstitute, treat or modify one or more of the raw materials which is involved in the food product, including materials during the manufacturing process, so as to enhance the durability of the food product, or to add new features to the food, such as improved colors, excellent cooking resistance, aroma and others.


Market Size and Forecast

The global food & beverage chemicals market is thriving on account of the growing demand for different type of food products, change in consumption preferences, increasing per capita income of individuals, demographic shift and change in lifestyles. The change in the preferences for food products can be attributed to the increasing focus of the consumers from products which are essential for survival to products which contribute to good health and well-being. The global food & beverage chemicals market is anticipated to grow with a notable CAGR during the forecast period 2021-2029. The market is segmented by application into bakery, beverages, chocolate & confectionery, convenience food, dairy, fruit & vegetable processing, functional foods, meat, poultry, fish, pet food and others. Among these segments, the bakery segment registered a significant market share in the year 2020 and is further anticipated to grow remarkably during the forecast period. The growth of the segment can be attributed to the growing use of food additives in bakeries and restaurants for enhancing the taste, appearance, aroma and texture of the food. Additionally, the food additives are also used in bakeries to preserve, color, emulsify or sweeten the food items, which is further anticipated to raise the demand for food chemicals, such as additives in bakeries.Global-Food-and-Beverage-Chemicals-Market

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Growth Drivers

Growing Demand for Healthier Food Products

With the growing concern for health diseases globally, consumers are opting for food products which are not only flavored and nutritious, but also are safe to consume and are affordable. In the recent years, with the growing demand for nutritional supplements, consumers are also willing to pay premium prices for such type of food products. As a result, food manufacturers are increasingly using food & beverage chemicals in an appropriate manner and quantity, so that it makes the food product very desirable amongst the consumers.

Growing Population Worldwide and the Rising Demand for Food Products

Globally, the population recorded till the year 2019 was close to 7.7 billion, according to the data by the World Bank.

The population around the world is increasing on a daily basis over the years. Backed by the increasing worldwide population, the demand for food and food products is also anticipated to grow significantly. On the other hand, with the growing population, the preference for different food products amongst the consumers is also increasing significantly. Moreover, with the availability of a wide variety of food products now-a-days, food manufacturers are also increasingly focusing on to develop food products through increasing research and development. These food products require different chemicals so as to have the exact flavor and color. Such factors are anticipated to drive the growth of the global food & beverage chemicals market during the forecast period.


Global-Food-and-Beverage-Chemicals-Market
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Restraints

Concern for the Ill Effects of Consuming Chemicals in Food Products

Although chemicals are used massively in the manufacturing of food products, using it in an inappropriate manner can cause severe health issues to the consumers. As a result, consumers habitually think food & beverage chemicals as harmful substances. Owing to such a factor, many consumers avoid food products which contain chemicals, usually in the low- and middle-income nations. Such a factor is anticipated to lower the market growth during the forecast period.


Market Segmentation

Our in-depth analysis of the global food & beverage chemicals market includes the following segments:

By Product Type

  • Food Additives
    • Food Emulsifier
    • Flavor Enhancers
    • Humectants
    • Preservatives
    • Seasoning
    • Sweeteners
    • Antifoaming Agents
    • Anticaking Agents
    • Firming Agents
    • Flour Treatment Agents
    • Food Glazing Agents
    • Others
  • Sanitizers
  • Cleaning Agents
  • Technological Aids
  • Components of Packaging Materials & Objects
  • Others

By Application

  • Bakery
  • Beverages
  • Chocolate & Confectionery
  • Convenience Food
    • Ready Meals
    • Soups
    • Sauces
    • Others
  • Dairy
  • Fruit & Vegetable Processing
  • Functional Foods
    • Food Supplements
    • Dietetic Foods
    • Others
  • Meat
  • Poultry
  • Fish
  • Pet Food
  • Others


By Region

On the basis of regional analysis, the global food & beverage chemicals market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.

Among these regions, the market in North America is anticipated to hold the largest share, backed by the presence of numerous food and beverage manufacturers in the region who produce different types of food products that require chemicals for manufacturing them. On the other hand, the market in Europe is anticipated to grow significantly, especially for the increasing consumption of bakery products in the region. The market for food & beverage chemicals in Asia Pacific is anticipated to observe a significant CAGR, backed by growing westernization in the region, along with the changing preferences for food products amongst the consumers.

The global food & beverage chemicals market is further classified on the basis of regions as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

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Top Featured Companies Dominating the Market


Key Questions Answered in the Report

1) What are the major factors driving the growth of the Food and Beverage Chemicals market?

Ans: Growing demand for healthier food products is one of the major factors driving the market growth.

2) What would be the CAGR of Food and Beverage Chemicals market over the forecast period?

Ans: The market is anticipated to attain a notable CAGR over the forecast period, i.e., 2021-2029.

5) Who are the major players dominating the Food and Beverage Chemicals market?

Ans: The market is anticipated to attain a notable CAGR over the forecast period, i.e., 2021-2029.

6) How are the company profiles selected?

Ans: The market is anticipated to attain a notable CAGR over the forecast period, i.e., 2021-2029.

7) What are the major segments in the food & beverage chemicals market?

Ans: The food & beverage chemicals market is majorly segmented by product type, application and by region.

8) What can be the significant growth indicators for the application segment in the food & beverage chemicals market?

Ans: The bakery segment, which is a sub-segment of the application segment, registered the largest market share in the year 2020, and is estimated to display significant growth during the forecast period.

8) What are the restraining factors for the market growth?

Ans: Concerns for the ill effects on health upon the consumption of the food chemicals is one of the major factors estimated to act as barriers to the growth of the market.

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