Asia-Pacific Food Emulsifier Market - Growth, Trends and Forecast (2018 - 2023)
Asia-Pacific Food Emulsifier Market Insight
The Asia-Pacific market for food emulsifiers is projected to register an estimated CAGR of 6.7% during 2018-2023 (the forecast period). The demand for natural emulsifiers offers huge potential in the emulsifier market, for example beeswax, lanolin, lecithin, and saponin.
Increasing Penetration in the Organized Retail Sector Fueling Market Growth
The expanding processed food market and penetration of the organized retail sector are the major factors driving the emulsifier market in Asian countries. The need to ensure safety and quality of food, transportation from farm to fork, and storage are of major concern. To meet this demand, food emulsifiers are used. Further, increasing population and rising disposable income of the middle class consumers create a subsequent demand for food, and in turn, for emulsifiers.
In Asian countries, like India and China, with greater disposable incomes and busy lifestyles, demand for packaged, processed, and ready-to-eat foods is increasing. Food emulsifier manufacturers are seeing an increased demand from food manufacturers, to preserve the freshness, safety, taste, appearance, and texture of processed foods.
The requirement for clean labels, proved to be a major cost factor for food emulsifier manufacturers, in terms of raw material sourcing and production process, thus, becoming a major restraint in the industry.
Vivid Application of Emulsifiers in the Bakery & Confectionery Segment
By product type, major food manufacturers use lecithin, as it is considered to be non-toxic to humans, and it easily enhance the color, flavor, texture, and shelf life of products.
The emulsifiers find wide range of applications in the dairy and bakery & confectionery industries. The demand for natural and nutraceutical products further drives the use of emulsifiers in varied food applications.
Emerging Nations, like India and China, to Propel the Market Growth in the Region
The Australian food emulsifier market is expected to register a CAGR of 5.43% during the forecast period. However, the developing markets of Asia-Pacific, most importantly India and China, account for a higher growth rate, because of the increasing population and changing food habits.
The key players include AAK, ARCHER DANIELS MIDLAND, BASF, CARGILL INC., DUPONT, ESTELLE CHEMICALS, INGREDION INC., KERRY GROUP, LONZA GROUP, PALSGAARD, PURATO, RIKEN VITAMIN, ROYAL DSM, STEPAN amongst others.
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