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Anti-Caking Agents Market expected to Witness a Sustainable Growth over ‘2020’
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Application of anti-caking agents is used in fertilizers, feed, road salt, cosmetics, and synthetic detergents. Use of anti-caking agent in fertilizer includes phosphorus, nitrogen, ammonium, and compound based fertilizers.
Growth of the food and beverage industry due to the rising population, rising consumer awareness about packaged food and shifting consumer preference towards convenience food, growth in disposable income are some of key reason which leads to boost the demand for anti-caking agents market over the forecast period.
The global anti-caking agents market is growing with high potential. Europe is the largest market for anti-caking agents followed by North America. Growth in food industry in North America further boosts the anti-caking agents market. Growing large population, changing lifestyle of people, inclination towards westernized eating habits, rising consumer preference towards junk food, rising awareness of benefits of packaged food and growing food & beverage industry are major reason which drive the anti-caking agents in Asia Pacific region. Growing technological developments in food and dairy industry further helps in the growth of anti-caking agents market. Asia Pacific is the fastest growing market among all regions of the world. Implementation of some regulations by European Food Safety Authority for the use of anti-caking agents, act as a market restrains for anti-caking agents market.
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Major companies operating in anti-caking agents market includes, Bogdány Petrol Ltd., Huber Engineered Materials, Evonik Industries AG, Kao Chemicals, Sasol Wax, IMAC INC, BASF, Fuji Chemicals Industries, Grain Corporation, Norkem Group, Chemipol S.A., PPG Industries, Inc., PQ Corporation and Sweetener Supply Corp.
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