Asia Pacific Food Emulsifier Market Forecast 2019-2028
The Asia Pacific food emulsifier market is estimated to project a CAGR of 6.59%, across the forecast years of 2019 to 2028. The growing demand for confectionery and the expansion of sales operations across several countries fuel the region’s demand for food emulsifiers.
The Asia Pacific food emulsifier market growth is analyzed through China, India, Indonesia, South Korea, Japan, Thailand, Vietnam, Australia & New Zealand, and the rest of the Asia Pacific. Indonesia’s market for food emulsifiers is observing steady growth, primarily due to the rising demand for confectionery. For instance, Barry Callebaut Group, a global chocolate and cocoa products manufacturer, has commenced production in its second chocolate manufacturing plant in Rancaekek, a sub-district of Bandung. The country’s new factory aligns with the enterprise’s plant-in-plant concept, which entails integrating new production units within the customers’ proximity. Moreover, the Barry Callebaut Group has also expanded its sales operations in the Philippines and Indonesia, in addition to its sales offices in Japan, India, Thailand, Malaysia and Singapore.
On the other hand, the food emulsifiers market in South Korea is witnessing a rising demand for flavored milk substitutes and snacks. Innovative colors, shapes, and textures of long-established brands are also introduced for the country’s consumers. Moreover, new products like chewy cookies with modified starch and shaking pudding with konjac and pectin are being launched. Therefore, these factors are attributed to the region’s market growth for food emulsifiers.
Key enterprises operating in the market include, Riken Vitamin Co Ltd, BASF SE, Estelle Chemicals Pvt Ltd, Global Specialty Ingredients, Archer Daniels Midland Company, etc.
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