Asia-Pacific Vinegar Market - Growth, Trends and Forecasts (2018 - 2023)
The Asia-Pacific vinegar market is estimated to grow at a CAGR of 6.9 % during the forecast period 2018 - 2023. The regional market is growing at an exceptionally faster pace with wide range of applications.
Changing consumer food preferences
The Asia-Pacific vinegar market growth is expected to be primarily driven by the changing consumer lifestyle and preferences. The interest toward cooking gourmet and ethnic foods have increased among many consumers prompting the sales of vinegar which can be used as one of the key ingredients.
The significant drivers for vinegar are increasing base of end-use industries and stringent environment regulations etc. Also, surge in use of wood vinegar in various applications such as agricultural practices due to improved seed germination, soil enrichment and root growth stimulation is driving the market.
Organic Vinegar Expected to Grow at a Faster Rate
The Asia-Pacific market for vinegar is segmented on the basis of product type, distribution channel and country. New types of organic vinegar such as apple cider vinegar and coconut vinegar have been introduced in the market and are gaining huge popularity. Organic vinegar is unfiltered, unheated, and contains 4.32% acidity. Organic vinegar is used as a health tonic and an antiseptic, as it is being produced from the fresh fruits or organically certified farmers. It has a certain freshness in its taste that is not found in non-organic products.
Apart from traditional vinegar flavors, there is a growing demand from consumers who are trying different cuisines and new flavors. This is encouraging the key players to launch new products. Many new products are being launched which contain no preservatives and include as many natural flavors. Also, the introduction of new flavors and ingredients in sauces and dressings will increase the demand for vinegar. China holds a major share in the Asia-Pacific vinegar market in 2016. India is expected to grow at a faster pace with the growing consumption of organic vinegar during the forecast period.
Major Players: KRAFT HEINZ COMPANY, BORGES BRANDED FOODS, FLEISCHMANN'S VINEGAR COMPANY, Inc, AUSTRALIAN VINEGAR, ACETIFICI ITALIANI MODENA, MIZKAN GROUP , SHANXI SHUITA VINEGAR, CARL KUHNE, ACETIFICIO ACETUM S.R.L, ASPALL
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