Food & Beverages Color Fixing Agents Market Size By Product (Sodium Nitrite, Sodium Nitrate, Potassium Nitrite, and Potassium Nitrate), By Application (Beverages, Meat, Poultry & Fish, Bakery, Dairy), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027

Industry Trends

Food & Beverages Color Fixing Agents Market size was valued at around USD 2.4 billion in 2020 and is set to record over 4.9% CAGR from 2021 to 2027. The increasing demand for processed meat will fuel the growth of the global market over the forecast period.
 

Color fixing agents keep the food's true essence and prevent it from losing its natural color. Food & beverages color fixing agents in meat are used to provide taste, color, and protection against microorganisms. Due of their antioxidant and antibacterial qualities, food & beverages color fixing agents are frequently employed in beverage manufacturing including non-alcoholic and alcoholic drinks.
 

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The food & beverages color fixing agents market will be chiefly driven by high growth in the food & beverages industry. The beverages and meat segments are the major applications of food & beverages color fixing agents. With increasing demand in these industries, the market is also expected to expand in the upcoming years.  
 

Increasing fish production and consumption across the globe will propel the growth of the food & beverages color fixing agents market in the near future. According to the Food & Agriculture Association (FAO), the global fish production increased to nearly 179 million tons in 2018 from around 154 million tons in 2011. This is projected to grow at a significant CAGR in the near future. This growth in fish production and consumption will fuel the product demand over the forecast period. Global fish output peaked in 2016 at around 171 million tons, with aquaculture accounting for 47% of the total production and 53% if non-food applications (such as reduction to fishmeal and fish oil) are excluded. In 2016, the overall first-sale value of fisheries and aquaculture production was anticipated to be USD 362 billion, with aquaculture production accounting for USD 232 billion.
 

The rising usage of sodium nitrite will complement the industry expansion

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Food & beverages color fixing agents market from sodium nitrite segment held the largest share of around 45% in 2020 and is projected to grow at a CAGR of over 4.7% during the forecast period due to the product's widespread availability and widespread use in the meat business. Sodium nitrite segment expansion will be fueled by the rising demand for processed meat over the assessment period. Sodium nitrite is a salt and antioxidant used in the curing of foods including bacon, ham, and hot dogs. Furthermore, the potassium nitrite segment is anticipated to grow at a CAGR of 5.4% during the forecast period. The growing product usage in the fish & poultry industry is likely to have a positive impact on the food & beverages color fixing agents’ industry statistics in the coming years.
 

The proliferating demand for the product in meat will drive the overall market forecasts

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The meat segment dominated the global food & beverages color fixing agents’ industry and is anticipated to generate revenue around USD 1.1 billion by 2027. Over the last few decades, global meat output has tripled, with a 20% growth in the last ten years. Over the forecast period, the exponential growth in meat production and consumption will fuel the demand for food & beverages color fixing agents in meat. Due to the rising meat consumption especially in China and India, the demand for food & beverages color fixing agents is expected to grow significantly during the projected period.
 

The beverage segment is anticipated to grow at a CAGR of 4.9% owing to the growing demand for flavored and healthy drinks, driving the growth of the beverages industry in the coming years. This healthy growth in the beverages industry will help the market to grow further in the next few years.
 

North America to witness a significant growth during the forecast period

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North America dominated the global food & beverages color fixing agents market owing to the large size of its food & beverages sector. In the U.S., matured bakery and expanding poultry and fish markets will stimulate product demand in the upcoming years. Furthermore, Asia Pacific is expected to grow at a CAGR of 5.2% during the assessment period. The rising population in India and China is fueling the food & beverages industry growth, boosting the demand for food & beverages color fixing agents. Food market revenue in Asia was accounted for around USD 1 trillion in 2019 and is predicted to expand at a rate of 6% in the coming years.
 

Product expansion is one of the major strategic outlooks of the overall industry

The global food & beverages color fixing agents market players are primarily focused on expanding their product portfolio. Major players are expanding their production capacities and regional presence in emerging economies. Some of the key manufacturers in food & beverages color fixing agents market include American Elements, Old Bridge Chemicals, Spectrum Chemicals, Mitsubishi Chemical Corporation, Merck KGaA, Naturex, Aldon Corporation, GFS Chemicals Inc, BASF SE, AkzoNobel NV, Sonac, Yara International, and Airedale Chemicals among others.

The Food & Beverages Color Fixing Agents Market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons & revenue in USD billion from 2017 to 2027 for the following segments:

By Product

• Sodium Nitrite
• Sodium Nitrate
• Potassium Nitrite
• Potassium Nitrate
• Others

By Application

• Beverages
• Meat
• Poultry & Fish
• Bakery
• Dairy

By Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • Indonesia
  • South Korea
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE