$2.8 Bilion Food Stabilizers (Blends & Systems) Market - Global Forecasts to 2023 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 19, 2018--The “Food Stabilizers (Blends & Systems) Market by Source (Plant, Microbial, Seaweed, Synthetic & Animal), Application (Dairy, Bakery, Confectionery, Beverages, Convenience Foods, Meat, Sauces & Dressings), Function, and Region - Global Forecasts to 2023” report has been added to ResearchAndMarkets.com’s offering.
The food stabilizers (blends & systems) market is estimated at USD 2.3 billion in 2018, and projected to grow at a CAGR of 4.0%, to reach USD 2.8 billion by 2023.
The growth of the food stabilizers (blends & systems) market is driven by the rising demand for healthier and natural food ingredients from the food industry. The key drivers for the market’s growth are the increase in consumption of processed food, the multi-functionality of food stabilizers, and the growth in the use of natural ingredients in foods, due to the increase in consumer awareness about healthy diets. The growing demand for food has resulted in an increased demand for food stabilizers.
Europe is projected to dominate the food stabilizers market during the forecast period. The growing demand for food stabilizers for bakery products, beverages, and convenience food is expected to boost the demand for food stabilizers in the region. Health awareness among consumers, along with the growing R&D on natural ingredients for food & beverages, is expected to drive the market growth in the region. International regulations and quality standards related to food additives are the key restraints of the growth of the food stabilizers (blends & systems) market.
On the basis of application, the food stabilizers (blends & systems) market was led by the dairy & dairy products segment. The increase in the consumption rate of functional food and economic development in the emerging markets of the Asia Pacific region; hence, the market for dairy & dairy products accounted for the largest share in 2017. In the food industry, the demand for dairy & dairy products is growing due to changing lifestyles and eating habits.
Based on source, the plant segment is projected to be the fastest-growing during the forecast period. This segment is rapidly growing; this is mainly due to the rise in demand for natural ingredient and increase in trend vegan food; hence, the demand for plant-sourced food stabilizers is increasing. Consumer perceives that plant-sourced food stabilizers add nutritional value to food products. Food & beverage manufacturers prefer plant-sourced food stabilizer to fulfill the consumer’s demand for natural food additives.
Asia Pacific is projected to be the fastest-growing market for the period considered for this study, due to the increase in disposable income and rise in demand for processed food, along with the growing industrial base, leading to increased demand for food stabilizers in the region. In addition, the market is driven by the growing demand for beverages in developing countries such as India, China, Japan, and Australia. The food processing industry is growing rapidly in these countries due to the increasing demand for convenience food in this region. Consumer food preferences are changing, awareness about food additives is increasing, and consumers are willing to spend more money on naturally sourced food products. All these factors are fueling the growth of food stabilizers (blends & systems) market in the Asia Pacific region.
DriversMultifunctionality of Food Stabilizers in Various Food & Beverage Products Increase in Demand for Customized Products Growth in Demand for Naturally Sourced Ingredients
RestraintsStringent International Quality Standards and Regulations Legal Framework of Food & Beverage Additives in Singapore
OpportunitiesEmerging Markets: New Growth Frontiers Increase in Investments for Research & Development to Develop New Products
ChallengesFluctuation in Prices of Raw Materials Consumer Demand for Clean Label Products and Perception of Food Labeling Thereof
IntroductionTypes of Food Ingredients Stabilizer Blends for Food Applications
Value Chain Analysis
Pest AnalysisGovernmental Regulations Economic Changes in the Global Market Directly Influence the Food Stabilizers Market Consumer Demand for Clean Label and Natural Ingredients to Drive the Market Development of Innovative Stabilizing Blend and Systems for Product Efficiency
Porter’s Five Forces Analysis
Companies MentionedADM Ashland BASF Cargill Cp Kelco Dowdupont Hydrosol GmbH & Co. Kg Ingredion Kerry Nexira Palsgaard Tate & Lyle
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Related Topics:Food Additives
INDUSTRY KEYWORD: RETAIL FOOD/BEVERAGE
SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 11/19/2018 06:07 AM/DISC: 11/19/2018 06:07 AM