The global food grade acetic acid market size is anticipated to witness significant growth in the coming years. The rising adoption of anaerobic fermentation across the food industry, coupled with the swift expansion of food industry, is anticipated to fuel the market growth. Fortune Business InsightsTM has presented this information in its upcoming report titled, “Food Grade Acetic Acid Market, 2022-2029”. Food grade acetic acid is a clear liquid with no color, and is used as a chemical agent for descaling.
The increasing application of food grade acetic acid in commercial and household application is anticipated to be a key trend flourishing in growth for the market.
COVID-19 Impact-
The unprecedented propagation of the coronavirus pandemic has suppressed the market growth to a limited extent. The shutdowns or limited operations of restaurant, food chains, and other facilities hampered the market growth due to low demand for food grade acetic acid. The fear of contracting the virus through food ordered from outside resulted in shrunken demand for the product. Nonetheless, the swift adaptation to providing hygienic food helped the market recover. The growth of the online food delivery platforms is likely to aid market growth.
Segmentation-
On the basis of application, the market is fragmented into commercial, household, and others. On the basis of type, the market is segmented into anaerobic fermentation, aerobic fermentation, and others. Geographically, the market is classified into Latin America, Europe, Asia Pacific, North America, and the Middle East & Africa.
Get a Sample PDF Brochure:
Report Coverage-
- It provides a thorough breakdown of the market’s competitive landscape.
- It highlights the latest developments occurred in the most recent years.
- It covers regional analysis across various geographies.
- It highlights various market segments- application, type, and others.
- It covers a thorough analysis of the COVID-19 pandemic’s impact on the market.
Drivers & Restraints-
Swift Expansion of Food Industry to Propel Market Growth
The improving income levels, urbanization, and establishment of new restaurant and hotel chain are expected to boost the global food grade acetic acid market growth. Food grade acetic acid is found as a food ingredient in sauces, salad dressings, marinades, mustard, milk, poultry, meat, and other various food products. Food grade acetic acid in vinegar form can be used in malt, rice, wine, and other products. It is widely used in commercial and household applications. The improving income levels, urbanization, and establishment of new restaurant and hotel chain are expected to boost the global food grade acetic acid market growth. The swift expansion of the food industry is anticipated to fortify the market growth in the coming years. Additionally, the expansion of online food delivery platforms will aid market growth in the forthcoming years.
However, the harmful impact of food grade acetic acid on human health may hinder the market’s growth.
Regional Insights-
Rapidly Expanding Food Industry to Promote Growth in Asia Pacific
Asia Pacific is projected to attain a major food grade acetic acid market share. The rapidly expanding food industry is anticipated to benefit the market’s growth.
North America is anticipated to witness substantial growth due to growing adoption of aerobic fermentation in household sector. Canada and the U.S. are expected to lead the growth in North America.
The growing adoption of anaerobic fermentation across the food industry is predicted to flourish in growth in the Middle East & Africa.
Competitive Landscape-
Key Players Take on Innovative Strategies to Expand their Businesses
The major market players emphasize production capacity expansions to cater to the growing demand for food grade acetic acid from the expanding food industry. The key players operate at international and regional levels, and focus on business expansion through mergers, acquisitions, collaborations, and other such strategies.
List of Key Market Players-
- Navin Enterprise
- Daicel Corporation
- LyondellBasell
- Celanese Corporation
- British Petroleum
- DuPont
- Eastman Chemical Company
- Wacker Chemie
- Saudi International Petrochemicals
- Mitsubishi Chemical Corporation
Inquire Before Buying Report:
https://www.fortunebusinessinsights.com/enquiry/queries/food-grade-acetic-acid-market-105246
No comments:
Post a Comment