Newark, NJ, Feb. 11, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global food anti-caking agents market is expected to grow from USD 1.13 billion in 2020 to USD 1.52 billion by 2028, at a CAGR of 3.8% during the forecast period 2021-2028.
Certain key factors are boosting the growth of the global food anti-caking agents market. Some of them include higher demand for food items with long shelf-life & finer quality, advancing research & development activities in the food & beverages sector, increasing consumption of convenience foods, rising demand for food ingredients, and the various advantages of food anti-caking agents.
Anti-caking agents prevent agglomeration in food products by making a water-repellent layer over the particles or by taking out surplus moisture. Anti-caking agents can be dissolved in alcohol, water, or any other organic solvent. To make sure the food product is safe for consumption these agents are legally limited to one to two percent of the net product weight. Anti-caking agents are commonly found in cream powder, flour-based mixes, cocoa, coffee drinks, milk, cheese, salt, feed nutrients, baking powders, etc.
With the outbreak of a global pandemic, many have faced salary cuts and job losses. Covid-19 has become a threat to the entire world’s economy and has negatively impacted all kinds of markets, including the food anti-caking agents market. With less disposable income and broken supply chains, the market's growth is expected to slow down. Some other growth impeding factors include potential health hazards and stringent government regulations.
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Key players operating in the global food anti-caking agents market include PPG Industries, Inc., Univar Inc, Agropur Ingredients, International Media and Cultures, Inc., Sweetener Supply Corp, Evonik Industries AG, Brenntag AG, Solvay S.A., Huber Engineered Materials, and PQ Corporation, among others. To gain a significant market share in the global food anti-caking agents market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships. Evonik Industries AG and International Media and Cultures, Inc. are some of the biggest manufacturers and suppliers of food anti-caking agents in the global market.
- Solvay opened up Thailand’s largest sodium bicarbonate factory in September 2015, as the demand for high-quality goods in food items, consumer goods, and healthcare sectors were ever-increasing.
- Brenntag purchased Lionheart Chemical Enterprises (Pty) Ltd in February 2017. The acquisition helped Brenntag to improve its role in the South African chemical distribution industry. Lionheart's commodity line also sponsored Brenntag's other operations for Crest Industrial Chemical and Multisol companies in the South African region. It also helped the ability of the organization to increase its revenues.
Calcium compounds segment dominated the market and held the largest market share of 25.89% in the year 2020
Based on type, the global market has been segmented into microcrystalline cellulose, magnesium compounds, sodium compounds, calcium compounds, and others. The calcium compounds segment dominated the market and held the largest market share of 25.89% in the year 2020. The large share of this segment can be attributed to factors like its greater suitability & functionality in product formulation.
Seasonings & condiments segment dominated the market and held the largest market share of 23.3% in the year 2020
On the basis of application, the food anti-caking agents market has been divided into soups & sauces, bakery, dairy products, seasonings & condiments, and others. The seasonings & condiments segment dominated the market and held the largest market share of 23.3% in the year 2020. This is due to innovation in food items, evolving consumer tastes & preferences, and the demand to attain particular organoleptic characteristics in food items. In order to keep condiments & seasonings like spices, salt, and chili powder dry, food anti-caking agents are used in them. A variety of food anti-caking agents are found in salts such as calcium silicate, magnesium silicate, silicon dioxide, sodium aluminum silicate, calcium aluminum silicate, magnesium carbonate, and magnesium stearate.
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Regional Segment Analysis of the Food Anti-Caking Agents Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global food anti-caking agents market has been classified into North America, Europe, South America, Asia Pacific, and Middle East and Africa. The Europe region accounted for the major market share of 35.1% in the year 2020 and is anticipated to grow throughout the projected period. Conversely, various regulations established by the European Food Safety Authority to curtail the production of anti-caking agents for a certain period could impede the growth of the European zone. On the other hand, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period from 2021-2028 primarily owing to rising per capita income. Food anti-caking agents have various applications in soups & sauces, seasonings & condiments, dairy products, and bakery. The APAC market has expanding food processing, convenience food, and processed food industries. Emerging economies around the world like India, Brazil, and China are especially lucrative, considering their growth potential.
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About the report:
The global anti-caking agents market is analyzed on the basis of value (USD Billion), volume (KGS), export (KGS), and import (KGS). All the segments have been analyzed on a global, regional, and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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