FOOD STABILIZER MARKET ANALYSIS

The global food stabilizer market  was valued at US$ 9.5 Billion in 2022 and is expected to exhibit a CAGR of 6.90% and market value  is expected to reach US$ 16.2  Billion during 2023-2030.

Increasing prevalence of foodborne diseases, and rising awareness about various advantages of food stabilizers against bacteria are expected to drive food stabilizers market in Europe and North America. Moreover, increasing working population in urban areas, and growing demand for processed and ready- to- eat food in emerging economies such as India and China is expected to drive market growth.

Food stabilizer are additive materials that are applied or sprayed to preserve the texture and quality of the food. Gelatin, gaur gum, starch, cellulose, and carrageen are commonly used food stabilizers. Growing urbanization, changing lifestyle of people, increasing disposable income, and rising adoption of convenience food are the major factor for rising demand for food stabilizers.

Global Food Stabilizer Market- Driver:

Wide Application of Food Stabilizers in Dairy Products

Dairy is a highly lucrative industry due to myriad product variations including milk, cream, cheese, butter, yoghurt, ice cream, and others. High amount of nutrients and proteins act as supplementary food to regular diet, and this is expected to fuel the demand for food stabilizers market. Asia Pacific holds the dominant position the global food stabilizer market. Due to growing demand for cheese, yoghurt and functional dairy products in the region. Moreover, Gujarat Cooperative Milk Marketing Federation (GCMMF), also known as ‘Amul’ invested US$ 733.6 million in India, to establish ten new processing plants by 2020 with a capacity of 32 million liters per day. Furthermore, various food stabilizer are used in dairy products to improve shelf- life, water retention and is expected to boost the global food stabilizer market during 2023-2030.

Growing demand for processed, frozen food, bakery, and confectionery product is expected to drive the global food stabilizers market. Increasing diabetes patient, and growing health awareness are  expected to rise demand for low fat food products.

Global Food Stabilizer Market- Restraint:

Overdose of food stabilizers can hinder the market growth. For instance, overdose of ‘alginate’ as a food viscosifier  has a negative impact on pregnant women, and this is expected to be one of the key challenge for food stabilizers market. The stringent government regulations imposed by Food and Drug Administration of U.S., in April  2020, stated that gaur gum is a natural substance that is obtained from maceration of the seed of the gaur plant, and thus, it is safe and can be used in specified limit,  this is expected to boost growth of the food stabilizer market during 2023-2030.

Figure 1. Global Food Stabilizer Market, By Functionality, Year 2022

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Figure 2. Global Food stabilizers Market, By Food Types, Year 2022

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Global Food Stabilizer Market- Regional Analysis

Asia Pacific, followed by Europe and North America accounted for major share in global food stabilizer market in terms of value and volume in 2022. In 2022, Asia Pacific accounted for a market share of 29.68% in terms of value, followed by Europe with 24.55% share in terms of revenue. Ready-to-eat segment is dominant in Asia Pacific, due to rapid increase in disposable income of Asia Pacific, and adoption of convenience food in the region. Moreover, growing urbanization, and increasing working population is also propelling the growth of global food stabilizer market.

Global Food Stabilizer Market- Covid-19 Analysis:

The Covid-19 had negative effect on the market. Global food stabilizer manufacturer faced lot of consequences. Lot of manufacturing units got closed due to covid-19 which result in deceleration of the production of food stabilizer across the globe. For instance, Kerry group plc, one of the major players in industry had estimated a downfall in revenue of 6% in 2021. This led to decrease in production of food stabilizer across the globe.

Global Food Stabilizer Market Recent Development:

In August 2022, BASF a chemical manufacturer as entered into binding agreement with Lallemand Inc’s subsidiary to divest BASF Nutrilife, Nutrilife enables food suppliers produce affordable, healthy and appealing food products while contributing to more efficient use of food sources.

On February 2022, Dupont, a chemical company in U.S. announced it has entered into a definitive agreement with Celanese Corporation to divest a majority of the mobility 7 materials segment including the Engineering Polymers Business.

On November 2022, DuPont, announced the termination of the previously announced agreement to acquire the outstanding shares of Rogers Corporation, as the companies have been unable to obtain timely clearance from all the required regulations.

On February 2022, Kerry, the world’s leading Taste and Nutrition Company, has announced that it has made two significant biotechnology acquisitions that will expand its expertise, technology portfolio and manufacturing capabilities.

Global Food Stabilizer Market-Key Competitors  Major players in the global food stabilizer market include 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.