April 02, 2020
As per the report titled ‘Global Food & Beverages Color Fixing Agents Market Size By Product, By Application, Industry Analysis Report, Regional, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2025’, available with Market Study Report LLC, the global food & beverages color fixing agents market is projected to cross USD 3.27 billion by the year 2025.
Increasing demand for color fixing agents in the meat industry is the fueling growth of global food and beverages color fixing agents market. Rising demand for meat products in Asia Pacific owing to booming population and rising disposable income will augment the market growth. Rising preference for these agents in the bakery industry for preserving taste and improving shelf life is another major factor propelling the growth of the market.
Growing availability of a wide array of products at affordable rate and the health benefits associated with baked products will spur the growth of bakery industry, which in turn will boost the demand for edible color fixing agents. In addition, expansion of distribution channels including supermarkets, convenience stores, retailers, and food services providers will render a positive impact o business outlook in the years to come.
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On the other hand, high production cost and stringent regulatory norms regarding the use of food & beverages color fixing agents will negatively affect the market growth. Toxic and hazardous nature of these products is the major drawback for this industry.
Elaborating on the product type, the market has been categorized into sodium nitrate, sodium nitrite, potassium nitrite, and potassium nitrate. Potassium nitrite market segment is presumed to grow significantly over the forecast timeline as it is extensively used in processing and preservation of meat.
Speaking of the application scope, meat segment held the majority share of food & beverages color fixing agents market in 2018 and is anticipated to grow rapidly during the analysis period. Rising disposable income and increasing demand for food products with high nutritional value is driving the segment growth.
As per the regional analysis, food & beverages color fixing agents market in Asia Pacific is slated to see commendable gains by the end of the forecast period, on account of increasing population in conjunction with changing lifestyle and increasing consumer expenditure across the region. Increasing preference for ready-to-eat products will further enhance the regional demand for food & beverages color fixing agents.
Major players of food & beverages color fixing agents market are Merck KGaA, AkzoNobel NV, BASF SE, America Elements, Airedale Chemical, Naturex, GFS Chemicals Inc., Sonac and Mitsubishi Chemical Corporation among others.
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