Food Emulsifier Market is Expected to be Worth US$4.3 bn by 2021, Growing at a Whopping CAGR of 4.0% from 2014 to 2021
The rise in the number of food borne diseases is increasing the demand for food emulsifiers, since they maintain the overall quality and retain the fat in food products. The growing consumption of ice-creams and bakery products is also driving the demand for food emulsifiers. Manufacturers are using emulsifiers to prolong the shelf life of food products. The use of emulsifiers for avoiding enzyme attacks and preventing decomposition is another factor driving the market. According to a report published by Transparency Market Research (TMR), the global food emulsifiers market is expected to rise from US$3.2 bn in 2014 to US$4.3 bn by 2021, expanding at a CAGR of 4.0% from 2014 to 2021.
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Q. What are the strategies adopted by players to help them grow in the market?
One of the main strategies adopted by players is to undertake acquisitions in order to complement or strengthen their existing business. For instance, in November 2014, Ajinomoto Co Inc. acquired Windsor Quality Holdings, LP, a U.S.-based company that manufactures and sells frozen food. The acquisition was aimed at expanding the business of Ajinomoto Co Inc. globally, thereby enhancing its brand image. In March 2015, Chr. Hansen launched a new product, eXact NG Flavour. The company focuses on introducing new products to expand its product portfolio to penetrate newer markets.
Maintaining strong relationships with all kinds of business partners and investors is another strategy adopted by players to ensure enhanced customer satisfaction.
Q. What are the challenges hampering the growth of the food emulsifier market?
The FDA and various other organizations have set safety standards to determine whether a preservative is safe for its intended use. Stringent regulations by governments across different countries is expected to hamper the growth of the market. Moreover, a number of food emulsifiers have been banned across different parts of the world, thus restraining the growth of the market.
Another factor threatening the growth of the market is the availability of newer products at lower costs. Since the awareness about emulsifiers is poor among consumers, vendors have to develop strategies to generate awareness and increase credibility. The impact of both these restraints is currently high and is expected to remain so in the coming years.
Q. What are the opportunities in the food emulsifier market?
Increasing health concerns among the people across the globe is expected to ensure the demand for food emulsifiers in the coming years. The food emulsifier market offers immense scope for the development of an array of new products. Many companies are investing in R&D to develop products that fight against fat problems. Companies such as DSM Food Specialties and DSM Nutritional Products, the two subsidiaries of Koninklijke DSM N.V., have collaborated to develop three new digestive enzyme supplements with extra fiber, microorganisms (probiotics), or enzymes to support natural digestion.
Cargill Inc. recently inaugurated its expanded European Research and Development Centre in Vilvoorde, Belgium for the development of new ingredients in food and feed sector, personal care, and in fermentation technology.
Thus, product innovations provide ample scope of growth in the market and will ensure the demand for food emulsifiers.