According to the newest research study conducted by Transparency Market Research on global food stabilizer market, it is expected to exhibit a healthy CAGR of 4% over the course of the mentioned period of forecast. The revenue of the market was projected to reach a value worth US$7.63 bn by fall of 2016, whereas by the end of 2024, the market valuation will rise up to US$9.26 bn.
Process and Convenience Food Products to Fuel Market Demand
Increasing demand for convenience food is quite clearly visible across all prominent regions across the globe. With increasing number of people opting for ready to eat and processed food products and beverages, naturally, the role of food stabilizers is gaining increasing significance. For convenience food sales, it is important to have a longer shelf life, stability, and visual appeal. Thus, the companies in the sector are constantly searching for a perfect food stabilizer that will be able to fulfill all the necessary requirements and will help them reach out their consumers more effectively with improved quality. This is expected to act as a primary driving factor for the overall development of the global food stabilizer market and will continue to help in its growth over the course of the forecast period ranging from 2015 to 2024.
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At the other end of the rope is the rapidly increasing number of customers, particularly from the developed nations, that are growingly demanding organic food. Food stabilizers in these organic products to enhance their shelf life is also expected to act as a key driving factor for the overall growth of the global market.
Europe to Lead Global Market in Terms of Value
In terms of regional segmentation, there are five key regions of the global food stabilizer market. These regions are North America, Latin America, Middle East and Africa, Asia Pacific, and Europe. Of these, regional segment of Europe has always been on the forefront in terms of contributing to the overall growth of the global market. There has always been a consistent demand for food stabilizer from the region in order to maintain the shelf life and aesthetic appeal of these products in terms of look, texture, and taste. The region is projected to show a high demand for organic food where these food stabilizers will be used for improving their shelf life. Moreover, the demand for packaged and process food is also quite high in the region and is also expected to play an important role in driving the growth of the regional market in coming years. By the fall of 2024, the regional segment of Europe is projected to account for around 35% of the overall value of the global market for food stabilizer.
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On the other hand, the regional segment of North America is showing a promising rate of growth in these coming years of the forecast period. The growth is expected to be positive in terms of both organic as well as convenience food products. The region is now showing an increased demand for these stabilizers in organic food because of the growing health concerns associated with processed food. Furthermore, a large number of consumers in the region are becoming aware about the different food borne illness and diseases and that food stabilizers can aid in tackling these problems. This is also expected to help in the overall development of the market in the region.
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Some of the key companies in the global food stabilizers market include names such as BASF SE, Cargill Inc., Celanese Corporation, Chr. Hansen A/S, DuPont, JEY’S F.I. INC., Kerry Group, Koninklijke DSM N.V., and The Archer Daniels Midland Company.
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