The global food emulsifiers market is expected to reach USD 7.51 billion by 2025, according to a new report conducted by Grand View Research, Inc. Growing requirement of nutritional foodstuffs, protein-rich products, and ready-to-eat snacks in Asia Pacific is estimated to drive the demand for food ingredients, including emulsifying agents, colorants, enzymes, and sweeteners. Furthermore, the presence of a broad consumer base coupled with the robust growth of the food & beverage sector is another critical driving factor that is likely to boost product consumption.
Lecithin is one of the major product categories of the market accounting for 29.1% of the volume share in 2015. Lecithin is found in both animal and plant tissues and is utilized as an emulsification ingredient for the preparation of a wide variety of bakery & dairy products.
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Further key findings from the study suggest:
- Dairy products accounted for 9.7% revenue share in 2015 and are likely to be one of the fastest growing applications. Rising consumption of dairy products in developing nations including China, India, and Russia is predicted to influence industry growth of key dairy processing additives, including emulsifiers.
- Europe generated revenue of USD 1.36 billion in 2015 and is anticipated to witness a stable growth over the forecast period. The implementation of stringent environmental regulations coupled with clean label trends is likely to support the stable growth in Germany, France, and other countries in the region.
- Lecithin exhibits nontoxicity and has the ability to moisturize, homogenize, and stabilize the colloidal systems. Moreover, it helps in modifying the rheological properties of victuals and also enhances their shelf life. Owing to its multifunctionality, the growth of the products is anticipated to propel significantly over the next couple of years.
- Lonza Group, Cargill, Inc., Danisco A/S, Riken Vitamin Co., Ltd., Palsgaard A/S, Beldem, BASF SE, Adani Wilmar Ltd., Archer Daniels Midland Company, Solvay S.A. Lubrizol Corporation, and Stepan Company are some of the key players operating in the global market.
- The prominent market participants such as Riken Vitamins Co., Ltd. and Palsgaard A/S are focusing on the expansion of their product portfolio by significantly investing in research & development.
- In December 2016, Cargill, Inc., announced the expansion of its emulsifier product portfolio. The company introduced a new emulsifier range that is inclusive of three plant-based lecithin products that are derived from canola, sunflower, and soy plants. Through new product launch, the company aims to meet the growing consumer requirements of label-conscious and nongenetically modified foodstuffs.
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About Grand View Research:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.