The food humectants market is estimated to witness a CAGR of 6.97% to reach US$27,891.126 million in 2024 from US$18,613.198 million in 2018. Humectants are food additives mostly used for the purpose of controlling viscosity and texture and also to retain moisture, improve softness and reduce water activity. Increasing consumer inclination towards nutritional food and functional beverages is a key factor driving the growth of the food humectants market. The growing awareness about food additives, change in lifestyle of consumers and the adoption of a healthy lifestyle is further expected to fuel up the market growth during the forecast period.
The food humectants market has been segmented on the basis of source, type, application, and geography. By source, synthetic is expected to hold a significant market share owing to the wide application of synthetic humectants in major industries such as food & beverage, cosmetics, personal care, and others. By type, sugar alcohol segment is anticipated to hold substantial share on account of high usage of sugar alcohol in bakery and other food products.
Geographically, North America region is expected to hold highest market share due to FDA approval of using humectants in food and beverage products, while Asia-Pacific is also projected to be a prominent region for the food humectants market during the forecast period owing to the rising disposable income in countries like China and India coupled with increasing demand for functional and nutritional food.
• Improving consumer lifestyle.
• Rapidly growing food and beverage industry.
• Stringent regulations
The major players profiled in the Food Humectants market include Cargill, Inc., Roquette Frères, Archer Daniels Midland, Galactic, Ingredion Incorporated, BASF SE, Corbion N.V, The DOW Chemical Company, and Barentz.
The food humectants market has been analyzed through the following segments:
• By Source
• By Type
o Sugar Alcohol
• By Application
o Bakery Products
o Functional & Nutritional Foods
• By Geography
o North America
o South America
? United Kingdom
o Middle East and Africa
? Saudi Arabia
o Asia Pacific
? South Korea