Research Nester published a report titled “Food & Beverage Chemicals Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the food & beverage chemicals in terms of market segmentation by product type, application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global food & beverage chemicals 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, out of which, in the year 2020, the bakery segment registered a significant market share, backed by the growing utilization of food additives in bakeries and restaurants. The bakeries and restaurants use these chemicals widely owing to the need to enhance the color, taste, appearance and others.
The global food & beverage chemicals market is anticipated to grow with a notable CAGR during the forecast period 2021-2029 owing to the change in consumption preferences amongst the individuals, increasing need for different type of food products and the growing income of individuals.
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Regionally, 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, out of which, the North America food & beverage chemicals market is projected to grab the largest share on account of the presence of several key players in the region who manufacture food products requiring these chemicals. Additionally, the Europe food & beverage chemicals market is anticipated to hold the second highest share owing to the presence of a strong bakery products market in the region.
Increasing Concern for Health and the Need for Healthier Food Products
Globally, the concern for diseases amongst the individuals is increasing at a massive pace. Consumers are now more aware of what they eat and what the food product is made up of. As a result, food manufacturers are increasingly focusing on developing food products which are healthier. Manufacturing these food products require different types of chemicals, which is anticipated to drive the market growth. On the other hand, there is also a growing demand for a variety of food types amongst the consumers. Many of these varieties are typically fancy foods, which require different type of food chemicals or enhancing its taste, flavor, and color. Such factors are anticipated to drive the market growth during the forecast period.
However, concerns for the ill effects on health upon the consumption of the food chemicals when added in inappropriate amounts in food products, are anticipated to hamper the growth of the global food & beverage chemicals market during the forecast period.
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This report also provides the existing competitive scenario of some of the key players of the global food & beverage chemicals market which includes company profiling of Givaudan SA (SWX: GIVN), BASF SE (ETR: BAS), DuPont de Nemours, Inc. (NYSE: DD), Archer Daniels Midland Company (ADM) (NYSE: ADM), Spectrum Chemical Manufacturing Corp., Univar Solutions Inc. (NYSE: UNVR), Solvay (EBR: SOLB), Evonik Industries AG (ETR: EVK), Agropur Cooperative and Brenntag (ETR: BNR). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global food & beverage chemicals market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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