The global market for food emulsifier is competitive in nature and is projected to experience a healthy competition among the leading players in the near future, states a new research study by Transparency Market Research. The rising number of players estimated to enter the global food emulsifier market is expected to encourage the growth of the global food emulsifier market throughout the forecast period. Some of the leading players operating in the food emulsifier market across the globe are Ajinomoto Co., Associated British Foods Plc., CP Kelco U.S., Inc., DSM Nutritional Products AG, Sensient Technologies Corporation, Archer-Daniels-Midlands Company, Givaudan SA, Cargill Inc., BASF, and Chr. Hansen Holding A/S. The leading players in the market are predicted to focus on innovations and advancements, which are estimated to offer promising growth opportunities for the market players in the next few years.
According to the market research study by Transparency Market Research, in 2014, the global food emulsifier market was worth US$3.2 bn and is anticipated to reach a value of US$4.3 bn by the end of 2021. The market is likely to register a healthy 4.0% CAGR between 2014 and 2021.
Rising Inclination towards Low Fat Food Products to Drive North America Market
The global market for food emulsifier has been categorized on the basis of geography into the Middle East and Africa, North America, Latin America, Europe, and Asia Pacific. In the last few years, North America is projected to lead the global market and is likely to remain in the leading position throughout the forecast period. The high growth of this region can be attributed to the increasing inclination of consumers towards the low fat food products and the rising use of food emulsifier in bakery and ice cream products. In addition to this, the growing demand for food emulsifier in emerging economies are further projected to generate promising growth opportunities for the market players in the next few years. On the other hand, Asia Pacific is likely to witness high growth in the next few years.
The global food emulsifier market has been bifurcated on the basis of application into meat products, convenience foods, confectionery and bakery products, and dairy products. As per the research study, the convenience food segment is estimated to witness high growth in the global market in the next few years. Furthermore, on the basis of the share of the market, the confectionery and bakery products segment is likely to attain the leading position in the next few years. The development of the food emulsifier market and the changing eating habits are some of the major factors that are anticipated to accelerate the growth of the convenience food segment in the next few years.
Increasing Research and Development Activities to Enhance Market Growth
The rising demand for convenience food and the increasing consumption of premium products are considered as some of the key products that are estimated to encourage the growth of the global food emulsifier market throughout the forecast period. A significant rise in the research and development activities in order to introduce new products and the multifunctionality of emulsifiers are further estimated to generate potential growth opportunities for the market players in the next few years.
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On the other hand, the lack of awareness among consumers regarding e-numbers and the rising competition from alternatives, such as enzymes are expected to restrict the growth of the global market in the next few years. Moreover, the changing prices of raw materials and the infrastructural challenges in emerging economies are projected to curtail the growth of the global market in the near future. Nonetheless, the rising demand for natural sources of ingredients and the potential opportunities being offered by developing nations are predicted to encourage the growth of the global food emulsifier market in the near future.