Anti-caking Agents Market Report Up to 2031
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COVID-19 Impact on Anti-Caking Agents Market
The COVID-19 pandemic has made considerable changes across the anti-caking market including changes in the consumer buying behaviour and consumer demand, disruption in the supply chain activities, and shift in the sales channels among others. As the food and beverage manufacturing plants were included in the essential services during the COVID-19 impact, the anti-caking agent industry had significantly low impact of the crisis. The initial panic caused among the consumers to restock the essential items including food led the manufacturing plants into overdrive. This also led to increase in the demand for anti-caking agents in the food processing industry. Additionally, there has been rise in the retail sales owing to the stocking up of essentials by the consumers, requiring the anti-caking agent manufacturers to target the retail players in the market. However, the distribution network across food & beverage industry is promoting the outbreak of coronavirus as the products come under essential goods and involves high human intervention. The risk of spreading coronavirus through product outputs is high and thus there strict government laws are being imposed on the industry, which impacts the anti-caking agents market.
Wide range of applications and functionalities of anti-caking agents is subjected to drive the market demand
Anti-caking agents are used to absorb water and oils in the food items so that they do not clump together that makes the food idem unusable. These are added into the products to keep them free-flowing and lump free. In growth in packaged food and frozen food is increasing at a rapid pace. The rise in demand is attributed to the increase in need to feed world population and anti-caking agents help in increasing the shelf-life of the products. Frozen food requires anti-caking agents to ensure that the food is safe for consumption. Additionally, the demand for clean label products is accelerating the development of natural anti-caking agents. Millennials and Generation Z population is concerned about the contents of products they consume and prefer to buy environment friendly and healthy products. Additionally, Millennials and Generation Z people are more likely to pay a premium price for lean label products, thereby contributing in the rising demand for natural anti-caking agents.
Increasing demand from the bakery industry
Anti-caking agents have applications in bakery industry to prevent the formation of lumps in cake preparations and for easing the packing, transportation, and flow ability. The bakery industry has experienced rise in consumption from the emerging and developing countries. The bakery industry in India is growing at a rate of 9% with it being the second largest manufacturers of biscuits after U.S. The preferences of consumers change with the time period and are strategically being handled by the bakery product manufacturers. The grab-and-go breakfast among the global bakery industry is expected to grow at a rate of 24.6% during the forecast period, which is further expected to accelerate the market growth of anti-caking agents market. Bakery industry is experiencing trends such as strong growth in niche products, drive for innovation and quality, and investments, mergers and acquisitions in the industry. The ongoing changes and positive trend in the bakery industry is boosting demand for anti-caking agents globally.
Increasing demand for cosmetics across globe
The demand for cosmetic in increasing at a higher rate and has huge potential during the forecast period. Women in U.S. spend approximately US$ 3,000 annually on cosmetics and the U.S. cosmetics industry was worth US$ 93.5Bn in 2019, which is further expected to increase at a significant rate. Global cosmetic industry is growing at 7.14%, with rise in awareness related to skincare routine among the consumers. Additionally, the increasing trend of purchase of beauty products through online channels coupled with the increasing internet penetration of internet across globe. The User-generated content (UGC) and influencer marketing are being used by premium beauty brands to create awareness among the consumers. The online distribution channel across beauty industry is accelerating the demand for cosmetics, which is further accentuating the demand for anti-caking agents in the industry.
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Increasing demand for food and feed additives
With the increasing global population, the demand for food is increasing at a rapid pace and the major demand comes from the developing countries as a result of increasing consumer disposable income. The demand for food is expected to increase to 98% by the year 2050, thereby increasing the market demand for anti-caking agents in food additives. Additionally, the changing consumer lifestyle, rising income, increased popularity of the fast-food restaurants is further propelling the demand for packaged food, which in turn is boosting the demand for food additives. Moreover, the in country like U.S. food supply is dominated by the packaged food and beverage products owing to the sedentary lifestyle of people in the nation, which is creating opportunity for anti-caking agent in packaged food industry to keep the food items lump free. In India, food processing industry is most prominent industry and has 100% FDI permit under the automatic route in the food processing industry, which further generates a demand for anti-caking agent.
Some of the companies profiled in the report include Huber Engineered Materials, PPG Industries, Inc., International Media and Cultures, Inc., Kao Corporation, Univar Solutions Inc., and Agropur Cooperative among others. In January 2018, Agropur Ingredients’ Custom Solutions introduced a turmeric-infused Capstone anti-caking agent, which is specially formulated for efficiency and affordability along with increasing the shelf life of shredded cheese. The turmeric is used improve antioxidant, antiseptic and anti-inflammatory properties of cheese.
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