31 December 2018 | News | By NFS Correspondent
Zion Market Research has published a new report titled “Beverage Stabilizers Market by Type (Xanthan Gum, Carrageenan, Gum Arabic, and CMC), by Function (Stabilization, Texturization, and Viscosification), and by Application (Fruit Drinks, Dairy Products, and Soft Drinks): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017—2024”. According to the report, the global beverage stabilizers market was valued at around USD 5,896 million in 2017 and is expected to reach approximately USD 8,664 million by 2024, growing at a CAGR of around 5.6% between 2018 and 2024.
Stabilizers are compounds that help in maintaining the physical and chemical properties of beverages. They primarily stabilize water and oil emulsions and are used by beverage manufacturers to maintain the stability of end-products. The process of delivering the product to consumers after manufacturing is a time-consuming process. Hence, it is important to maintain product quality to increase its shelf life.
The major factor driving the beverage stabilizers market is the multi-functionality of beverage stabilizers. The increased functionality and performance of beverages, especially nutritional beverages, are likely to drive the demand for beverage stabilizers in the future. Moreover, the growing research and development and increased incorporation of natural ingredients in beverages are anticipated to boost the beverage stabilizers market in the estimated timeframe. However, various international food quality standards for beverage additives and the increasing cost of raw materials might hinder this market in the upcoming years.
By type, the market includes carrageenan, gum Arabic, CMC, and Xanthan Gum. Xanthan gum is anticipated to dominate the market in terms of revenue, owing to its wide range of application in the beverage industry, such as a thickener, stabilizer, emulsifier, and suspending agent. By application, the beverage stabilizers market is segmented into soft drinks, dairy products, and fruit drinks. Fruit drinks are anticipated to grow at the fastest rate in terms of revenue, due to the growing health awareness of the population. By function, the beverage stabilizers market is segmented into stabilization, texturization, and viscosification. The stabilization segment is likely to contribute a significant revenue share in the forecast time period.
North America is anticipated to show moderate growth in the beverage stabilizers market globally in the upcoming years. This can be mainly attributed to rapid growth of beverages industry, increasing R&D investments made by major market players, technological developments, changing consumer trends, robust economic growth, enhanced purchasing power of consumers, and rising population. The North American region is a major hub for nutritional supplement providers, owing to increasing awareness about healthy nutritional beverages in the region. Innovative product launches and wider availability and adaptability of beverage coupled with government support regarding beverage stabilizers usage are anticipated to fuel the beverage stabilizers market in the forecast time period. In addition, growing millennial population, rising demand for beverages by sports clubs/organizations during sports events, and increasing demand for premium beverages by consumers are anticipated to fuel the region’s beverage stabilizers market in the future.
Europe is another prominent market for beverage stabilizers, due to the increasing health consciousness among people, changing lifestyle, and inclination of consumers toward healthier dietary options. In addition, increasing obesity occurrences in the European countries is another major factor likely to drive this region’s beverage market, which, in turn, is driving the beverage stabilizers market. Growing adoption of beverages by sports players and increasing disposable income are anticipated to boost the beverage market growth, which is anticipated to boost the beverage stabilizers market in the future.
The Asia Pacific is anticipated to witness the significant growth in the beverage stabilizers market over the forecast period. Rapid urbanization, the growing impact of western food habits, and rising population are prime factors likely to boost the beverage stabilizers market in the future. In addition, the growing middle-class population with increasing disposable incomes, rising awareness regarding the importance of fitness club, and increasing attention toward active and healthy lifestyles are projected to drive the regional demand for beverages, which is anticipated to fuel the beverage stabilizers market. Moreover, innovative marketing strategies, growing investment by international players, and research and development in the beverage industry are anticipated to fuel the region’s beverage stabilizers market.
Latin America is anticipated to witness considerable growth in the beverage stabilizers market over the forecast time period, due to the region’s developing beverage industry. In addition, increasing tourism activities in Latin America is also likely to drive the beverage industry, which, in turn, is anticipated to further boost the region’s beverage stabilizers market. Moreover, substantial growth in GDP, improved economic growth, and increased investments in the food and beverage industry by international players are projected to drive this regional market in the future.
The Middle East and Africa are expected to show sluggish growth in the future, due to the slowly growing income of the region’s population and stringent government regulation regarding food stabilizers in the region.
Some key players of the beverage stabilizers market include Glanbia Nutritionals, Cargill Inc., Nexira, Dow Du Pont, Palsgaard, Kerry Group, Advanced Food Systems, Chemelco International, Ashland, and Tate & Lyle, among others.