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Latin America Food Acidulants Market Segmentation By Type (Phosphoric Acid, Fumaric Acid, Malic Acid, Citric Acid, Lactic Acid, Acetic Acid, and Others), By Application (Drinks, Dairy and Frozen Products, Confectionery, Meat Industry, Bakery, and Others), and By Region (Brazil, Mexico, Argentina) – Industry Analysis on Market Size, Growth, Share, Trends, Value, Demand and Company Analysis Forecast Report 2022 to 2027

Published: March, 2023
ID: 11082
Pages: 160
Formats: report pdf report excel report power bi report ppt

Latin America Food Acidulants Market Size Analysis 2022 - 2027:

Latin America Food Acidulants Market size is estimated to reach over USD 655 million, recording a compound annual growth rate of xx% over the foreseen period of 2020 to 2025.

Acidulants are commonly used in the baking industry to improve the shelf life of products and give them a smooth texture. The main function of acidulants is to stabilize the pH of the food product and preserve its shelf life. In addition, they function as flavor enhancers in confectionery products, gelling agents, and improve the flavor of drinks. The growing consumer interest in fresh, quality baked goods has fueled the use of acidulants due to functional advantages, including sourdough, improved taste, heat resistance, and low hygroscopicity, mold inhibition, mass conditioning, and compatibility with dairy products.

Latin America Food Acidulants Market Report Statistics:

REPORT METRIC

DETAILS

Market Size Available

2020 – 2026

Base Year

2020

Forecast Period

2022 - 2027

CAGR

X.X%

Segments Covered

By Type, and By Application

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Countries Covered

Brazil, Argentina, Mexico

Market Leaders Profiled

Bartek Ingredients, ADM, Jungbunzlauer Suisse, Caremoli, Purac Biochem, Parchem Trading, Tate & Lyle., Brenntag, Cargill, and Univar Inc

Recent Developments in Latin America Food Acidulants Market:

  1. Bartek Ingredients Inc., the world's largest producer of food-grade malic acid and fumaric acid, announced the successful completion of a 4,000 ton/year capacity increase at its malic acid production facility. Bartek, the first in a series of capital investment projects to support its growing acidulant business, is expanding capacity and capabilities to enable greater flexibility and support for its food, beverage, and confectionery; animal nutrition; and industrial customers.
  2. In October 2019, Huntsman Corporation announced that it has completed the previously announced purchase of the remaining 50% interest in Sasol's Sasol-Huntsman maleic anhydride joint venture. Huntsman now owns 100% of the entity with manufacturing assets located in Moers, Germany, and the capacity to produce 230 million pounds of maleic anhydride annually. Huntsman paid Sasol approximately $ 100 million, which includes cash acquired net of any debt and is subject to customary post-closing adjustments.
  3. TorQuest Partners announced the acquisition of Bartek Ingredients Inc., a specialty chemicals manufacturer serving the end markets of the food and beverage industry. Terms of the transaction were not disclosed. Headquartered in Stoney Creek, Ontario, Canada, Bartek is a world leader in the production and distribution of malic acid and fumaric acid, specialty products that improve flavor profiles, food safety, and food profitability.
  4. Tate & Lyle PLC, a leading global provider of food and beverage ingredients and solutions, announces that it has entered into an agreement to acquire an 85% interest in Chaodee Modified Starch Co., Ltd., a well-established manufacturer of tapioca modified food starch located in Thailand. This investment expands Tate & Lyle's presence in specialty tapioca texturizers and establishes a dedicated production facility in the main tapioca region of eastern Thailand.
  5. In 2019, Bartek Ingredients confirmed about the purchase of a 22,000 t/y reactor from MAN Energy Solutions, Germany. The reactor will increase the company's maleic anhydride capacity ahead of expected long-term growth in the global acidulants market. It also integrates Bartek's upstream raw material production with its downstream finishing capabilities.

Market Drivers and Restraints:

The Latin American food acidulants market is expected to experience a significant CAGR during the forecast period as demand for food acidulants from the food processing industry increases. The consumption of food additives has increased as they act as preservatives in food and beverages. Food acidulants act as a flavoring and gelling agents for food products, such as jams and sweets, and maintain the pH and acidity of beverages. However, strong price competition is the main concern in the Latin American food acidulant market, due to the availability of food acidulants at relatively low prices by Chinese manufacturers, which may hinder the growth of the local market during the outlook period.

Detailed Segmentation of the Latin America Food Acidulants Market:

The Latin America Food Acidulants Market has been segmented based on the type, applications, and region.

Depending on the Type: The food acidulants market is segmented into lactic acid, phosphoric acid, acetic acid, tartaric acid, citric acid, fumaric acid, and malic acid. Citric acid is extracted from citrus fruits such as lemon, orange, and grapefruit, which are commonly used in food products. Lactic acid is used to regulate the acidity of processed food products where it acts as a preservative and antioxidant. Phosphoric acid is generally accountable for the strong taste of cola drinks. Tartaric acid is originate in fruits such as grapes and bananas, it as well acts as an antioxidant and is normally used in sour-flavored sweets. Finally, malic acid is used as a flavoring agent in the acidic confectionery of an unripe fruit.

Depending on the Application: The food acidulants market is segmented into drinks, dairy and frozen products, confectionery, meat industry, bakery, and others.

Impact of COVID-19 on Latin America Food Acidulants Market:

Coronavirus has is worst impact on the food and beverage industry, including all its associated businesses like food acidulants. The temporary suspension of production units, roadblocks disrupting the supply chain and strict lockdown conditions have resulted in the declined revenue in food acidulants market. Nations in this area like Brazil have witnesses the worst strain of COVID-19, resulting in several casualties and mortalities, affecting the overall marketplace. However, with the relaxation of lockdown conditions, the market is slowly resuming to its previous levels.

Regional Insights on Latin America Food Acidulants Market:

The Latin America Food Acidulants market has been divided by geography into Mexico, Brazil, Peru, Chile, Argentina and others. The main reason for the growth of the market in these countries is the bourgeoning population. Argentina and Brazil are amongst the developing markets for food acidulants, which is attributed to increased consumption of processed foods and increased nutritional needs of consumers. The Brazilian market could experience growth within the projection period due to the increase in exports of nutritional products. Brazil is the world's largest exporter of nutritional products, such as coffee, soy, and beef. In addition, the presence of giant meat processing companies, especially BRF and JBS, will have a positive impact on product demand. Acidity regulators improve process efficiency and stabilize the quality of fermented meat, which will promote the growth of the industry in processed meat applications.

Leading Company

ADM Company had the largest share of the Latin America Food Acidulants Market in terms of sales and revenue in 2020.

Key Players Covered in the Latin America Food Acidulants Market report are:

ADM, Brenntag, Cargill, and Tate & Lyle, among others, are among the players that have a major hold in the Latin American Food Acidulants Market. Manufacturers are adopting innovative technologies to increase their profit margins in the local market.

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