Introduction to Food & Beverage Chemicals
Chemicals are used across a wide range of end-use applications. But in the industry of edible commodities, food & beverage chemicals are used either in total or partial to reconstitute, treat or modify one or more of the raw materials which is involved in the food product, including materials during the manufacturing process, so as to enhance the durability of the food product, or to add new features to the food, such as improved colors, excellent cooking resistance, aroma and others.
Market Size and Forecast
The global food & beverage chemicals market is thriving on account of the growing demand for different type of food products, change in consumption preferences, increasing per capita income of individuals, demographic shift and change in lifestyles. The change in the preferences for food products can be attributed to the increasing focus of the consumers from products which are essential for survival to products which contribute to good health and well-being. The global food & beverage chemicals market is anticipated to grow with a notable CAGR during the forecast period 2021-2029. The market is segmented by application into bakery, beverages, chocolate & confectionery, convenience food, dairy, fruit & vegetable processing, functional foods, meat, poultry, fish, pet food and others. Among these segments, the bakery segment registered a significant market share in the year 2020 and is further anticipated to grow remarkably during the forecast period. The growth of the segment can be attributed to the growing use of food additives in bakeries and restaurants for enhancing the taste, appearance, aroma and texture of the food. Additionally, the food additives are also used in bakeries to preserve, color, emulsify or sweeten the food items, which is further anticipated to raise the demand for food chemicals, such as additives in bakeries.
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Growth Drivers
Growing Demand for Healthier Food Products
With the growing concern for health diseases globally, consumers are opting for food products which are not only flavored and nutritious, but also are safe to consume and are affordable. In the recent years, with the growing demand for nutritional supplements, consumers are also willing to pay premium prices for such type of food products. As a result, food manufacturers are increasingly using food & beverage chemicals in an appropriate manner and quantity, so that it makes the food product very desirable amongst the consumers.
Growing Population Worldwide and the Rising Demand for Food Products
Globally, the population recorded till the year 2019 was close to 7.7 billion, according to the data by the World Bank.
The population around the world is increasing on a daily basis over the years. Backed by the increasing worldwide population, the demand for food and food products is also anticipated to grow significantly. On the other hand, with the growing population, the preference for different food products amongst the consumers is also increasing significantly. Moreover, with the availability of a wide variety of food products now-a-days, food manufacturers are also increasingly focusing on to develop food products through increasing research and development. These food products require different chemicals so as to have the exact flavor and color. Such factors are anticipated to drive the growth of the global food & beverage chemicals market during the forecast period.
Restraints
Concern for the Ill Effects of Consuming Chemicals in Food Products
Although chemicals are used massively in the manufacturing of food products, using it in an inappropriate manner can cause severe health issues to the consumers. As a result, consumers habitually think food & beverage chemicals as harmful substances. Owing to such a factor, many consumers avoid food products which contain chemicals, usually in the low- and middle-income nations. Such a factor is anticipated to lower the market growth during the forecast period.
Market Segmentation
Our in-depth analysis of the global food & beverage chemicals market includes the following segments:
By Product Type
- Food Additives
- Food Emulsifier
- Flavor Enhancers
- Humectants
- Preservatives
- Seasoning
- Sweeteners
- Antifoaming Agents
- Anticaking Agents
- Firming Agents
- Flour Treatment Agents
- Food Glazing Agents
- Others
- Sanitizers
- Cleaning Agents
- Technological Aids
- Components of Packaging Materials & Objects
- Others
By Application
- Bakery
- Beverages
- Chocolate & Confectionery
- Convenience Food
- Ready Meals
- Soups
- Sauces
- Others
- Dairy
- Fruit & Vegetable Processing
- Functional Foods
- Food Supplements
- Dietetic Foods
- Others
- Meat
- Poultry
- Fish
- Pet Food
- Others
By Region
On the basis of regional analysis, the global food & beverage chemicals market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
Among these regions, the market in North America is anticipated to hold the largest share, backed by the presence of numerous food and beverage manufacturers in the region who produce different types of food products that require chemicals for manufacturing them. On the other hand, the market in Europe is anticipated to grow significantly, especially for the increasing consumption of bakery products in the region. The market for food & beverage chemicals in Asia Pacific is anticipated to observe a significant CAGR, backed by growing westernization in the region, along with the changing preferences for food products amongst the consumers.
The global food & beverage chemicals market is further classified on the basis of regions as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Top Featured Companies Dominating the Market
- Givaudan SA
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- BASF SE
- DuPont de Nemours, Inc.
- Archer Daniels Midland Company (ADM)
- Spectrum Chemical Manufacturing Corp.
- Univar Solutions Inc.
- Solvay
- Evonik Industries AG
- Agropur Cooperative
- Brenntag
