A combination of increasing demand for low-fat food and the rising popularity of natural emulsifiers will drive growth in the global market for emulsifiers, say industry analysts GIA.
The new report – from Global Industry Analysts, Inc (GIA) – predicts increasing demand for emulsifiers in the global market for food, beverage, and personal care, markets’ will see a gradual increase in demand for emulsifier ingredients - with global sales reaching 2.6 million tons by 2017.
“This characteristic of making healthier products similar in taste to fat-containing versions of products has enabled emulsifiers in gaining widespread acceptance in the market,”said GIA.
However, the report, titled“Emulsifiers: A Global Strategic Business Report”, warned that despite the presence of such strong growth drivers,“a modest growth rate is predicted for the market over the analysis period,”adding that a likely slow-down in volume sales of all food products on account of the recession will balance out much of the market growth.
“Although economies worldwide are gradually recovering, the protracted impact of the downturn continues to pose challenges for several end-use industries, leading to the resultant decline or static demand for most of the emulsifier segments,”said GIA.
The report calculates an increase in the popularity of niche and premium positioned foods, such as fortified breads and confectionery – which themselves will create the need for specialty emulsifiers.
“The change in consumer demand patterns forced suppliers to develop emulsifiers that not only act as fat replacement products but also provide the same texture, flavour, structural and aerating characteristics,”said the GIA report.
It notes that although increasing demand for value-added products and consolidation within the food additive industry“is expected to create challenges for the food emulsifier market”, the development of new technologies within the industry“are expected to boost market growth in coming years.”
Food manufacturers are increasingly focusing on development of novel ingredients that are capable of reducing fat content and providing healthier food options without affecting taste or flavour. With this in mind, GIA said if believes that the use of emulsions and emulsifiers to stabilise or maintain the sensory characteristics of foods – texture, flavour, and taste – will grow in the next five years.
The report predicts that Europe and the USA, as already strong players in the global emulsifier market, will capture the majority of the new growth. However, it adds that Asia-Pacific is forecast to record the fastest annual growth rates (of around 9%) through 2017.