Food & Beverages Color Fixing Agents Market size to exceed $3.4bn by 2027
Published Date: August 25, 2021 Authors: Kiran Pulidindi, Prashant Hake
Food & Beverages Color Fixing Agents Market size is forecast to exceed USD 3.4 billion by 2027, according to a new research report by Global Market Insights Inc.
Food & beverages color fixing agents are primarily utilized as food preservatives in a variety of foods including fish, poultry, meat, bakery, and dairy goods. In the coming years, the rising meat industry around the world will drive the product demand. High demand from China, fueled by rising disposable income, is expected to drive meat consumption during the assessment period. Color fixing agents for food & beverages are used to preserve meat. They give food a reddish color and a typical curing flavor while preserving it from microorganisms. They are quite popular in the meat sector because of the latter qualities, especially in the meat processing business.
Growing dairy industry in various regions across the globe will enhance the demand for food & beverages color fixing agents over the coming years. In Asia Pacific, changing dairy product consumption patterns, such as preference for cheese over butter, continue to fuel food & beverages color fixing agents market expansion. The product is used in cheese to hinder the microbial growth and enhance the flavor. Cheese takes up about one-tenth of the volume of milk, making it more portable and having a longer shelf life than milk.
Global milk output is anticipated to increase by 1.6 percent/year between 2020 and 2029, reaching 997 million tons by 2029, according to an OECD-FAO report. Furthermore, the global cheese market increased by 2.3% and reached USD 114.1 billion in 2019; thus, the increasing consumption of cheese is projected to boost the demand for food & beverages color fixing agents.
Browse key industry insights spread across 260 pages with 149 market data tables & 23 figures & charts from the report, “Food & Beverages Color Fixing Agents Market Forecasts, By Product (Sodium Nitrite, Sodium Nitrate, Potassium Nitrite, and Potassium Nitrate), Application (Beverages, Meat, Poultry & Fish, Bakery, Dairy), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021-2027” in detail along with the table of contents:
Surging application of sodium nitrate in the meat industry to boost the product demand
F&B color fixing agents market from sodium nitrate segment is projected to witness a significant CAGR during the forecast period and reach around 23.6% of market share by 2027. The product is majorly used as a food preservative in many of the food items such as meat, fish, and bakery & dairy products. The growing meat industry across the globe will propel the product demand in the coming years. The rising demand for meat, fish, and poultry in China is anticipated to drive the product demand over the forecast period.
Growing dairy industry across the globe will foster the market expansion
Food & beverages color fixing agents market from dairy segment is anticipated to record around 4.3% CAGR through 2027. The product in the dairy industry is used to maintain the desirable color and increase the product shelf life. As milk is the popular product in the dairy industry, global milk production also has a huge change in the market. The overall supply of milk in the world was around 828.5 million tons in 2018, up from 16.7 million tons in 2017, marking one of the highest growth rates since 2014.
Asia Pacific to exhibit steady growth during the forecast period
The Asia Pacific food & beverages color fixing agents market held around 27% of share in terms of revenue in 2020 and is expected to register over 5.2% CAGR between 2021 and 2027. The increasing sea-food consumption in the region owing to the inclination toward healthy and nutrient enriched food will drive the regional market statistics.
Some of the top players in the F&B 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.
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