Asia Pacific Food Acidulants Market

Asia Pacific Food Acidulants Market Size, Share & Trends Analysis Report By Application, By Type (Citric Acid, Acetic Acid, Lactic Acid, Phosphoric Acid, Malic Acid and Others), By Country and Growth Forecast, 2024 - 2031

Report Id: KBV-23385 Publication Date: July-2024 Number of Pages: 124
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Market Report Description

The Asia Pacific Food Acidulants Market would witness market growth of 5.5% CAGR during the forecast period (2024-2031). In the year 2022, the Asia Pacific market's volume surged to 2,684.1 tonnes, showcasing a growth of 16.3% (2020-2023).

Lactic acid, a prominent food acidulant, holds a crucial position in various industries owing to its diverse applications, inherent advantages, and evolving market trends. Primarily recognized for its role as a flavor enhancer, preservative, and pH regulator, lactic acid is extensively used in the food and beverage industry. It is commonly employed in dairy products such as yogurt, cheese, and sour cream, where it contributes to flavor development, texture improvement, and shelf-life extension. Therefore, the China market consumed 87.98 tonnes of lactic acid in 2023.

Asia Pacific Food Acidulants Market

The China market dominated the Asia Pacific Food Acidulants Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $850.3 Million by 2031. The Japan market is registering a CAGR of 4.9% during (2024 - 2031). Additionally, The India market would showcase a CAGR of 6.2% during (2024 - 2031).

In bakery applications, acidulants condition dough, improving its texture, elasticity, and rise. This results in baked goods with desirable characteristics such as softness, chewiness, and volume. Acidulants possess functional properties that are valuable in food processing. For example, they can act as chelating agents, binding with metal ions to prevent oxidation and discoloration in fruits and vegetables.

Several trends are reshaping the landscape of the food acidulants market, reflecting evolving consumer preferences, regulatory dynamics, and technological advancements. Decreasing the amount of sugar in food and beverage goods is popular as people become more conscious of the health dangers of excessive sugar consumption. Acidulants are vital to sugar reduction procedures because they provide tartness and acidity without adding sugar. This trend is consistent with consumers' growing preference for healthier dining options.

As the meat industry in India expands, there is a growing demand for meat processing facilities to meet consumer needs for processed and packaged meat products. According to the National Investment Promotion and Facilitation Agency, India is the eighth-largest meat producer globally. In the fiscal year 2022-2023, the country produced 9.77 million tons of meat. This marks a 5.62% increase in production compared to the 2020-2021. Additionally, the per capita availability of meat rose from 6.52 kg per year in 2020-2021 to 6.82 kg per year in 2021-2022. Likewise, as the dairy industry in China grows, there is a greater demand for dairy processing facilities to handle the production of various dairy products such as milk, yogurt, cheese, and ice cream.

 According to the State Council of the People's Republic of China, the largest dairy enterprises in China had a 2.9 percent year-on-year increase in their output in May 2022. These businesses create at least 20 million yuan ($2.99 million) in operating revenue annually, and last month, they produced over 2.76 million metric tons of dairy products. Thus, the growing dairy industry and growing meat castor in the region are driving the market's growth.

Free Valuable Insights: The Global Food Acidulants Market is Predict to reach USD 8.6 Billion by 2031, at a CAGR of 5.1%

Based on Application, the market is segmented into Beverages, Bakery & Confectionery, Dairy & Frozen Desserts, Meat Industry and Others. Based on Type, the market is segmented into Citric Acid, Acetic Acid, Lactic Acid, Phosphoric Acid, Malic Acid and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Australia, Malaysia, and Rest of Asia Pacific.

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List of Key Companies Profiled

  • Tate & Lyle Plc
  • Brenntag SE
  • Univar Solutions, Inc.
  • Archer Daniels Midland Company
  • Jungbunzlauer Suisse AG
  • Cargill, Incorporated
  • Corbion N.V.
  • Bartek Ingredients Inc. (TorQuest Partners)
  • FBC Industries Inc.
  • Hawkins Watts Limited

Asia Pacific Food Acidulants Market Report Segmentation

By Application< (Volume, Tonnes, USD Billion, 2020-2031)

  • Beverages
  • Bakery & Confectionery
  • Dairy & Frozen Desserts
  • Meat Industry
  • Others

By Type (Volume, Tonnes, USD Billion, 2020-2031)

  • Citric Acid
  • Acetic Acid
  • Lactic Acid
  • Phosphoric Acid
  • Malic Acid
  • Others

By Country (Volume, Tonnes, USD Billion, 2020-2031)

  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Malaysia
  • Rest of Asia Pacific
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