Latin America Food Anti Caking Agents Market

Latin America Food Anti Caking Agents Market Growth and Forecast (2023 - 2028):

Latin America Food Anti Caking Agents Market was worth $92.81 million in 2022 and estimated to be growing at a CAGR of 4.76%, to reach $117.1 million by 2028. The recent agreement between the Latin American nations to blend the food legislation has had a positive impact on the permissibility of food additives.

Market Overview:

Caking is the formation of cakes or lumps in the food products which cause complications while packing, transport and consumption. Anti caking agents are a type of food additives that prevent the formation of caking either by absorbing the additional moisture or dampness or by covering the particle and making them water repulsive and thus preventing the formation cakes. Some type of commonly used caking agents are silicates, acids, etc.

Drivers and Restraints:

Factors like varying lifestyles of individuals, inclining preference towards bakery, confectionary and convenience foods, growing population and increasing awareness among the manufacturers regarding complications in packaging of foods and their remedies are driving the growth of market. However, high raw material and processing costs of natural anti caking agents and strict government regulations are the factors restricting the growth of market.

Latin America Food Anti Caking Agents Market Segmentation Analysis:

Latin America Food Anti Caking Agents Market is segmented by type into Calcium Compounds, Sodium Compounds, Magnesium Compounds, Microcrystalline Cellulose and Silicon Dioxide. Based on application the market is segregated into Spice, Seasoning & Condiments, Bakery, Flavor, Beverages, Dairy, Fruits & Vegetables and Chocolates. The market for seasonings & condiments is expected to grow at a substantial rate mainly due to the change in consumer's tastes, improvements in food products, and aspiration to attain specific organoleptic properties in food products.

Region Analysis:

Geographically the Latin America Food Anti Caking Agents Market is segmented into Brazil, Mexico, Argentina, Chile and Rest of Latin America. Mexico is dominating the region’s market for Food Anti Caking agents and predicted to continue the dominance over the forecast period due to its use in many types of food products like cheese, powder formulas, bakery products and convenience foods.

Key Players in the Market:

Major Key Players in the Latin America Food Anti Caking Agents Market are

• Sasol Wax
• Fuji Chemicals Industries
• Chemipol S.A
• Huber Engineered Materials
• Agropur Ingredients
• PPG Industries Inc
• Grain Corporation
• IMAC Inc
• Evonik Industries AG
• BASF
• Norkem Group
• Kao Chemicals
• PQ Corporation
• Bogdány Petrol Ltd
• Sweetener Supply Corp