Home > Pressrelease > Food and Beverages Color Fixing Agents Market size to hit $4 Bn by 2032
Food and Beverages Color Fixing Agents Market size to hit $4 Bn by 2032
- Published Date: February 10, 2023
Food and Beverages Color Fixing Agents Market size is estimated to cross USD 4 billion by 2032, according to a new research report by Global Market Insights Inc.
The report claims that the remarkable rise in fish production globally will favor the industry growth. The aquaculture sector has witnessed a massive boom over recent years attributed to the increasing consumer inclination toward blue food. Moreover, other factors, such as consistent population growth, rapid urbanization, and improving income levels, have further instigated the demand for aquaculture and fisheries.
For instance, based on a recent Blue Food study, compared to 2015, the world is expected to consume twice as much blue food comprising algae, shellfish, and fisheries caught and cultivated in salt or freshwater by 2050. The anticipated uptick in fish production to meet the burgeoning demand for seafood will propel the need for efficient food preservatives and color fixating agents to avoid spoilage. This, in addition to the noticeable improvement in fish farming practices, will create optimistic scenarios for the industry.
Potassium Nitrile Food and Beverages color fixing agents to gain traction due to extensive usage in meat industry
With respect to the product, the food and beverages color fixing agents market size from the potassium nitrite segment is poised to reach USD 650 million by 2032. The primary factor driving the expansion of the potassium nitrite market is the extensive product utilization as a color fixative in fish and meat. The integration of potassium nitrite-based food and beverages color fixing agents helps preserve meats against microbial agents such as clostridium botulinum, further bolstering their demand. Moreover, the increasing product usage in a range of dairy applications, such as maintaining the desired color of hard cheese, will propel segment gains.
Ability to contain bacterial growth to augment color fixing agents demand in poultry &
Browse key industry insights spread across 260 pages with 167 market data tables and 24 figures & charts from the report, “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), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:
fish farming practices
In terms of application, the food and beverages color fixing agents market share from the poultry & fish segment will witness over 4.8% CAGR between 2023 and 2032. Color fixing agents are increasingly employed across the meat industry to prevent botulism in fish and ensure microbial safety. It also helps kill bacteria, produces a characteristic flavor, and gives fish a pink or red color. The consistent improvement in per capita income coupled with shifting dietary preferences in major economies such as India, South Korea, and Indonesia will augment the demand for fish and poultry products.
Expanding processed food industry to drive the market growth across North America
Regionally, the North America food and beverages color fixing agents market is projected to expand at 4.5% CAGR through 2032, credited to the high per capita consumption of processed meat and the positive outlook of the beverages sector in the region. Besides, the healthy economic landscape and fast-moving lifestyle resulting in the increased uptake of processed food and beverages will further add remarkable impetus to the regional industry.
Increasing strategic exchanges to define the competitive outlook
Notable players involved in the food and beverages color fixing agents market are BASF SE, AkzoNobel N.V, Merck Group, Yara International, GFS Chemicals, Inc, Naturex, Airedale Chemical, American Elements, Sonac, and Mitsubishi Chemical Corporation. Companies in this business segment have been implementing numerous growth strategies such as partnerships, collaborations, mergers & acquisitions, and new product development to strengthen their foothold in the global market and gain access to a broader consumer base.
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