Selbyville, Delaware, Aug. 25, 2021 (GLOBE NEWSWIRE) —
The food & beverages color fixing agents market value is set to cross USD 3.4 billion by 2027, according to a new research report by Global Market Insights Inc. The expanding food & beverages industry across the globe will boost the adoption of food & beverages color fixing agents. The emerging applications of color fixing agents in the meat and poultry industry are expected to boost the overall market expansion.
Food & beverages color fixing agents industry from sodium nitrite segment accounted for around 45% volume share in 2020. The segment is majorly driven by increasing applications in the meat industry. The rapidly growing poultry industry in Asia Pacific will fuel the product demand in the near future. The poultry industry is experiencing healthy growth in numbers due to the initiative of private enterprises and minimal government intervention.
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Poultry & fish segment is set to surpass USD 500 million by 2027. According to the FAO, the global poultry production in 2018 was nearly 123 million tons and is projected to rise with a steady CAGR in the coming years. Changing diets and increasing per capita income will drive the poultry meat market in the emerging economies including India, South Korea, and Indonesia over the forecast period.
Some of the major findings in the Food & Beverages Color Fixing Agents Market report include:
- The sodium nitrite segment is projected to grow at a CAGR of over 4.7% from 2021 to 2027 owing to rising usage of sodium nitrite in the poultry and meat industry.
- Food & beverages color fixing agents are widely used in beverages, poultry & fish, meat, bakery, and dairy industries. The beverage segment is projected to grow at a CAGR of 4.9% in the coming years.
- Major industry players are primarily focused on expanding their production capacities and product portfolio in emerging countries to hold a business share in the industry.
- The market is moderately fragmented owing to the presence of small & large producers in North America and Asia Pacific due to stringent government regulations governing food safety, new entrants face a moderate risk.
Browse key industry insights spread across 260 pages with 149 market data tables & 23 figures & charts from the report, “Food & Beverages Color Fixing Agents Market Statistics, By Product (Sodium Nitrite, Sodium Nitrate, Potassium Nitrite, and Potassium Nitrate), Application (Beverages, Meat, Poultry & Fish, Bakery, Dairy), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021-2027” in detail along with the table of contents:
Europe food & beverages color fixing agents market is likely to grow at a CAGR of over 5% during the forecast period. The rise of bakery items, such as cakes, bread, biscuits, pastries, and morning goods, will be stimulated by changing consumer habits toward healthy living, which is predicted to fuel the expansion of bakery products in the European market. The positively growing dairy industry in the region will further fuel the market statistics.
The growing demand for food & beverages color fixing agents with excellent properties in various industries will positively contribute to the overall industry. Key players in the global food & beverages color fixing agents market include American Elements, Merck KGaA, Mitsubishi Chemical Corporation, BASF SE, Aldon Corporation, AkzoNobel NV, and Airedale Chemicals, among others.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.