Anti-caking Agents Market Share Growing Rapidly, Recent Trends, Russia Ukraine War Impact
Posted on May 16 2022 5:59 AM
"Companies covered are Evonik Industries AG, Brenntag AG, PPG Industries, Univar Inc., Agropur Ingredients, Solvay, International Media and Cultures, Inc., Huber Engineered Materials, Sweetener Supply Corp., and many more in Anti-Caking Agents Market research report "
Recent updated research by Fortune Business Insights™ The global anti-caking agents market size is projected to experience dynamic growth in the forthcoming years due to the increasing consumption of packaged food worldwide, observes Fortune Business Insights™ in its report, titled, “Anti-caking Agents Market-2021-2028”.
Convenience foods have taken urban populations by storm. With work schedules getting increasingly hectic and to meet that hunger, people are switching toward packaged food which is ready-to-eat. Instant noodles and soups, in particular, have garnered roaring popularity, thus fueling the demand for anti-caking agents. These chemical agents are a kind of additive used for seasoning, as well as used to prevent lumps formation. Also, using it eases the process of packaging and transport of food.
List of Key Players Covered in the Anti-Caking Agents Market Report:
- Evonik Industries AG.
- Brenntag AG.
- PPG Industries
- Univar Inc.
- Agropur Ingredients
- International Media and CulturesInc..
- Huber Engineered Materials
- Sweetener Supply Corp.
The anti-caking agents market growth suffered a setback due to the severe downturn of industries and closure of groceries and supermarkets amid the COVID-19 pandemic. When the contagion broke out in March 2020, several countries announced strict lockdowns and imposed social distancing rules to contain the coronavirus' spread. As workers in the food industry were not at work, it severely impacted its production, which led to a sharp dip in revenues.
Impact of Russia-Ukraine War Implication
The Russia-Ukraine war could change the market dynamics of Europe forever. The standoff has revived the predicament situation of the Cold War and pushed Europe to the brink of a major military conflict. The Russian aggression in Ukraine has redefined the global landscape in terms of business. As the global market was recuperating from the havoc wreaked by the COVID-19 pandemic, the Russia-Ukraine war has made several industry stakeholders skeptical.
Based on the source, the anti-caking agents industry is divided into natural and synthetic. By application, the market is segmented into dairy products, seasoning, soups, sauces and fertilizers. On the basis of the end-user, the market is divided into food, agrochemicals, and feed. In terms of geography, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
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Highlights of the Report
The report contains an unmatched analysis of the anti-caking agents industry. It provides strategies to increase growth opportunities and revenue of the market. Additionally, regional analysis, mergers, acquisitions, project economics, future trends, and challenges that are affecting the growth of the market are also mentioned in the report. This report provides deep information about the market share, size, and sales and provides a comprehensive analysis of the impact of COVID-19 on the convenient food market.
Drivers and Restraints:
High Divergence in Different Industries to Fuel the Market
The global anti-caking agents market is growing dramatically owing to its increased demand in various industries, such as food & beverages, fertilizers, cosmetics, and animal feed. These are used to avoid clumping of products since they have the property to absorb moisture and repel oil and water to enter the packaging. Also, they do not degrade the food quality to which they are added. For example, calcium potassium and sodium ferrocyanide are synthetic anti-caking agents used in common salt, iodized salt, and iron-fortified salt. As prescribed by the Food Safety and Standard Authorities of India (FSSAI), these agents should not exceed their quantity by 10 mg/kg. Another anti-caking agent, magnesium myristate, is used as an opacifier. It helps to increase product adhesion to the skin. Thus, its high divergence in different industries is expected to further strengthen its demand in the upcoming years.
Asia Pacific to Lead due to Easy Availability of Raw Material
The Asia Pacific region is anticipated to hold the major share in the anti-caking agents market since the entry of many foreign players is bound to change the landscape of the anti-caking industry in China. In addition, these multinational organizations have greater advantages in terms of financial clout, R&D capability, production, and marketing in this region due to the availability of raw materials and low labor costs. However, the traditional culture of food, such as noodles and soups has a strong influence on citizens in the region and thus, it will positively promote the market.
On the other hand, the market is expected to rise significantly in North America due to the increasing consumption of bakery food. As per the American Association of Bakery, in the U.S., the bakery industry accounts for 2.1% of the total gross domestic products.
Key Players Aim to Broaden Product Portfolios by Introducing Unique Products
The global market houses several companies that are persistently striving to expand their presence and enhance their product portfolios. To do so, they are implementing strategies, such as joint ventures and new products launches. Below are two latest industry developments mentioned.
- September 2018: Evonik expanded its manufacturing unit’s capacity for the production of hydrophobic fumed silica in its Rheinfelden Center in Germany. This expansion will support those industries that are dependent on these chemicals in the region.
- August 2017: W. R. Grace & Co. acquired certain assets from Evonik Industries AG. The assets which will be acquired by Grace includes Evonik’s SIDENT, J.M. Huber Corporation’s defoamer and anti-caking product ranges under the brand name Zeofoam.
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