The global food acidulants market is anticipated to grow at a CAGR of around 7.2% over the forecast period (2020-2026). The increasing demand for food acidulants for convenience food is projected to drive market growth over the forecast period.
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Convenience foods comprise an extensive range of products that have been entirely or partly prepared by food manufacturers rather than in the home. The changing lifestyles and increasing purchasing power of the consumers have been the major factors surging demand for convenience foods, thereby, accelerating the growth of the food acidulant industry over the forecast period.
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High preference for convenience products, particularly among middle-to-higher-income consumers, due to rising urbanization levels and busier lifestyles, is impacting the eating habits of consumers. With the rise in disposable incomes and busy lifestyles, consumers have been increasingly replacing main meals with more flexible, convenient, and light snacking options. Hence, this, in turn, is driving the growth of the market over the forecast period.
Global Food Acidulants Market – Segmentation
By Type
- Acetic Acid
- Citric Acid
- Lactic Acid
- Malic Acid
- Phosphoric Acid
- Others
By Applications
- Dairy & Frozen products
- Bakery & Confectionery
- Beverages
- Meat Products
- Others
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